OKEx, which describes itself as the world’s largest futures cryptocurrency exchange, and P2P trading platform Paxful have joined hands to offer crypto traders access to numerous new payment options.
Starting immediately, Paxful’s web-based Virtual Bitcoin Kiosk will be integrated and directly available on the OKEx platform for new and existing users.
The integration will now allow OKEx users to utilize Paxful’s peer-to-peer trading network directly to purchase BTC with 160 various fiat currencies into their accounts. The list of supported currencies includes Russian Ruble (RUB), Vietnamese Dong (VND), Indonesian Rupiah (IDR), Nigerian Naira (NGN), Colombian Peso (COP), British Pound (GBP), Mexican Peso (MXN), Canadian Dollar (CAD), Euro (EUR), and Argentine Peso (ARS).
In other words, Paxful is now another OKEx fiat gateway partner, joining the list of similar providers that offer fiat-to-cryptocurrency on-ramps through diverse payment methods. OKEx, which claimed over $2.3 billion of crypto trading volumes in the last 24 hours, already allows buying of bitcoin via these partners.
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However, Paxful’s support of hundreds of payment methods is the key differentiator, particularly in countries that apply restrictive banking rules. In such nations, residents of this country can use gift cards to buy bitcoin via Paxful to fund their OKEx accounts.
“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.
Paxful’s Virtual Bitcoin Kiosk grants users the ability to match instantly with sellers that meet the criteria of their trading needs based on currency and payment method. The company’s customers will also benefit from its collaboration with OKEx as they will be granted access to a variety of trading options, such as spot, margin, and futures on OKEx, as well as direct access to options trading via OKEx’s DEX platform.
“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.