BitMart Exchange, a digital asset trading platform, has partnered with peer-to-peer payment provider Paxful to expand access to cryptocurrency trading through decentralized financial tools.
The collaboration enables users to utilize bank transfers, gift cards, debit/credit cards, and cash deposits for digital asset transactions, according to the announcement.
Sheldon Xia, founder and CEO of BitMart, stated, "BitMart’s mission is to offer convenient financial service in the crypto market." The platform previously integrated credit/debit card deposits via EU-regulated financial institution Simplex, aiming to reduce entry barriers for new cryptocurrency investors.
Paxful, which facilitates direct Bitcoin transactions between users, provides over 300 payment methods for digital asset purchases. The platform also offers free digital wallets for storing and transferring Bitcoin, with a focus on financial inclusion for underbanked populations.
Ray Youssef, CEO and co-founder of Paxful, emphasized, "We’re excited to integrate with BitMart in efforts to bring more trading options to emerging markets." The partnership leverages Paxful’s technology to serve BitMart’s global user base of 600,000 individuals.
BitMart Exchange has also launched a credit/debit card deposit service through Simplex, an EU-authorized financial institution.
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