P2P marketplace Paxful recently announced a new partnership with Mexican bank Bnext.
The two have teamed up to provide Mexicans with a crypto debit card and make it easier to access and use coins.
Mexicans can now use the card for payments at any PoS terminal or withdraw cash from ATMs free of charge.
Paxful, a well-known P2P marketplace from Bitcoin, recently announced its partnership with a Spanish neobank, Bnext. Thanks to this alliance, the two will be able to introduce a crypto-debit card in Mexico.
Paxful and Bnext launch a crypto-debit card
As far as is known, this partnership will enable Paxful’s Mexican customers to use their digital coins to finance the card and pay at any PoS terminal in and outside Mexico. They will also be able to withdraw cash from ATMs free of charge.
In addition, Bnext customers will be able to access the crypto-P2P marketplace directly and buy and sell coins at any time.
Paxful’s announcement further states that Mexico has fairly strict banking laws that encourage people to rely even more on cryptography. Many have therefore actually found their way into the crypto industry, and so numbers from various crypto exchanges, such as Bitso, have seen a massive increase in recent years.
Bitso, in particular, reported a 342% growth in trade volume in Mexico between September 2019 and May 2020.
A reliable banking alternative for Mexico
Paxful co-founder and CEO Ray Youseff commented on the partnership with Bnext, calling it a significant step towards financial integration. He said Paxful is delighted to be working with the bank, which will help bring financial integration one step closer to reality.
The two want to work together to provide a secure banking alternative for the people of Mexico, and in the meantime, make cryptographic trade and use more accessible on a global scale.
Of course, Bnext is only the latest addition to Paxful, which currently offers over 300 different payment methods. No matter what type of payment method users prefer, Paxful has probably already enabled it.
Now Bnext users will be able to buy and sell Bitcoin and Tether quickly and easily, and since Mexico is one of the six countries that use crypto currencies most often in the world, this opportunity will not go unused.