This archive report was first published on 19 June 2020.
On June 15th, Paxful, a peer-to-peer bitcoin marketplace, announced a strategic partnership with OKEx, a world-leading cryptocurrency exchange. This collaboration aims to provide users with a convenient way to buy and sell bitcoin using over 160 fiat currencies, including the British pound, euro, Argentinian peso, Thai baht, and Indian rupee.
The partnership will integrate Paxful's Kiosk directly onto the OKEx platform, allowing users to access a wide range of payment methods, such as bank transfers, gift cards, and online wallets. This integration will enable users to match instantly with sellers that meet their trading needs and make payments via Paxful on the OKEx platform.
Crypto Ecosystem ¶
With this partnership, Paxful and OKEx aim to provide easier access to the global cryptocurrency market, particularly in regions such as Vietnam, South Africa, Russia, Indonesia, Thailand, the UK, India, Argentina, Canada, Chile, Nigeria, Kenya, Korea, Germany, France, Japan, Poland, Turkey, Ukraine, and Venezuela.
According to Ray Youssef, CEO and co-founder of Paxful, the partnership is a step towards growing the crypto community and making cryptocurrency more accessible as a real-world payment method. Jay Hao, OKEx CEO, added that the partnership will enable the two companies to reach more users in developing regions and provide them with exposure to OKEx's advanced technology and diversified product suite.
As a result of this partnership, Paxful and OKEx customers will have access to a variety of trading options, including spot, margin, and futures trading on OKEx, as well as direct access to trading on OKEx's DEX platform.
