Peer-to-peer bitcoin (BTC) marketplace, Paxful on Friday announced a strategic partnership with OKEx, a cryptocurrency exchange with high liquidity and cold storage technologies.
The partnership seeks to integrate the Paxfu Kiosk directly onto the OKEx platform, for new and existing OKEx users.
The strategic integration between OKEx and Paxful provides convenient payment methods for OKEx users to buy bitcoin (BTC) with over 160 fiat currencies including GB pounds, euros, Argentinian pesos, Thai baht, Indian rupee, and more.
The partnership will also allow for OKEx users to seamlessly utilize Paxful’s most in-demand payment methods which include bank transfer, gift cards, online wallets, domestic wire transfer, and many more.
Users will also get the ability to match instantly with sellers that meet the criteria of their trading needs based on currency and payment method and make payments via Paxful on the OKEx platform. Overall, this partnership will integrate over 100 million users allowing them the freedom to utilize the opportunities both OKEx and Paxful have to offer.
“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,” said Ray Youssef, CEO, and co-founder of Paxful.
In addition to the initial integration of the two platforms, Paxful customers will also be granted access to a variety of trading options, such as spot, margin, and futures trading on OKEx as well as direct access to trading on OKEx. Paxful customers will also be able to take part in options trading via OKEx’s DEX platform OKEx DEX, opening up a variety of new possibilities within the derivatives market that have not been available to Paxful users until now.
“We’re delighted to partner with Paxful and share very similar goals about onboarding more people to cryptocurrency. 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,” said Jay Hao, OKEx CEO.
As a result of this partnership, Paxful and OKEx hope to provide easier access to the global cryptocurrency market specifically in the regions of Vietnam, South Africa, Russia, Indonesia, Thailand, UK, India, Argentina, Canada, Chile, Nigeria, Kenya, Korea, Germany, France, Japan, Poland, Turkey, Ukraine, and Venezuela.
Both platforms have entered in this partnership to serve their users by providing on-ramps to the different platforms and increased functionality, and hope to grow the overall ecosystem and help expand different geographic and service markets.
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