Peer-to-peer bitcoin marketplace Paxful has joined forces with OKEx, one of the world’s largest and most diverse cryptocurrency spot and derivatives exchanges.
The strategic partnership will offer several payment methods for new and existing OKEx users to buy bitcoin with over 160 fiat currencies through Paxful’s Kiosk.
Users will have access to in-demand payment methods such as bank transfer, gift cards, online wallets, and many more.
Overall, the partnership will integrate over 100-million users, allowing them the freedom to utilize Paxful’s existing infrastructure and payment options while enjoying the benefits of OKEx’s advanced technology and diversified product suite.
“To help grow the crypto community, industry businesses are increasingly collaborating to uplift each other in providing more options for their users,” says Ray Youssef, CEO and co-founder of Paxful. “We admire OKEx’s work and know that our values and strategy are aligned.
“With this partnership, not only do we open new opportunities for customers on both platforms and increase functionality, but we jointly contribute towards strengthening the overall ecosystem and help make crypto more accessible as a real-world payment method by expanding to different geographic markets.”
As a result of the new integration, Paxful and OKEx provide easier access to the global cryptocurrency market specifically in the regions of South Africa, and Nigeria, but also in Kenya, Vietnam, Russia, Indonesia, Thailand, UK, India, Argentina, Canada, Chile, Korea, Germany, France, Japan, Poland, Turkey, Ukraine, and Venezuela.
“We’re delighted to partner with Paxful and share very similar goals about onboarding more people to cryptocurrency,” Jay Hao, CEO of OKEx. “Through this partnership, we can reach more users in developing regions using Paxful’s existing infrastructure and payment options and give them exposure to the benefits of OKEx’s advanced technology and diversified product suite. This is a great step forward for us and the crypto space in general.”
With an unbanked population of more than 60%, Africa is a major focus for both Paxful and OKEx.