Malta-based leading cryptocurrency exchange OKEx has announced a strategic partnership with leading peer-to-peer bitcoin marketplace Paxful to provide its users access to more payments methods and trading tools.
OKEx announced the news in press release published on Monday, June 15th. According to the announcement, through this partnership OKEx and Paxful can serve 100 million users.
This partnership will see Paxful Kiosk, a robust fiat on-ramp tool for digital exchanges to help their customers fund their accounts with bitcoin, integrated directly on the OKEx platform to allow new and existing users to benefit from a wide variety of payment options and advanced trading tools.
Now the OKEx user can buy Bitcoin with 167 supported fiat currencies including the Turkish lira, the Indian rupee, the Argentine peso, and the Great Britain Pound using convenient local payment methods supported by Paxful platform.
Paxful, founded in 2015, is a leading P2P Bitcoin marketplace based in New York. The platform currently serves over 3 million customers globally who can buy Bitcoin easily from sellers with over 300 payments methods including PayPal, bank transfer, Payoneer, Skrill, Google Pay, Western Union, KaKaoPay, Yandex.Money, iTunes gift card, M-Pesa, Mercado Pago, UPI Transfer, etc.
Ray Youssef, co-founder and CEO of Paxful, about the partnership, stated:
“At Paxful, one of our goals is to help grow the crypto community. We admire OKEx’s work and know that our values and strategy are aligned. With this partnership, we hope to continue to build up the ecosystem together and make crypto more accessible as a real-world payment method.”
In return, Paxful users will have access to sophisticated trading options, such as spot, margin, and futures trading on the OKEx platform. They will also be able to reach other derivative markets, such as option trading, through OKEx DEX, a decentralized exchanged based on OKEx commercial public blockchain OKChain.
As Crypto Economy reported, OKEx launched the testnet version of its commercial public blockchain OKChain in April 2020, and then the next testnet version in May. OKEx hasn’t still announced a mainnet launch date for OKChain.
Jay Hao, CEO of OKEx, about the latest partnership, commented:
“We’re extremely enthusiastic about our partnership with Paxful as one of the most widely used and respected peer-to-peer BTC marketplaces. We’re firm believers in collaboration at OKEx and understand that we must work together to onboard more people to cryptocurrency. No one should work as an isolated island. The benefits of this partnership are huge both for Paxful and OKEx users. Together, we can reach and give more options to at least 100 million users.”
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