Infinito users will now be able to buy Bitcoin directly from other crypto users around the world without any transaction fees involved.
Ray Youseff, CEO of Paxful, said the integration was a way of making crypto easier to obtain and use:
“There is a growing trend in Bitcoin ownership globally. As an industry, we should work towards creating more crypto products that will be used for real-life use cases that can help accelerate mainstream real-life adoption, and not just for speculation.”
Both companies are also looking to expand their services within the Vietnamese market, which they believe is a “high potential market” with a rapidly growing Bitcoin investor community.
Jack Nguyen, director of Infinito, said:
“We’re extremely pleased to be Paxful’s first-ever crypto wallet partner to enable Bitcoin ownership for even more people all over the world and penetrate the Vietnam market.”
A “crypto investment competition” will be launched to attract newcomers to test the world of crypto before investing.
However, Youseff reveals that newcomers were already arriving as a result of the COVID-19 crisis, prompting a surge in new user sign-ups globally in March:
“Since there are many people now at home and are looking for other income opportunities, they see the benefits of crypto and peer-to-peer finance. Crypto is also solving the problem of remittance since many traditional financial services are affected during this time.”
Youseff says that along with Vietnam, Paxful is increasing efforts to target India, Russia, some countries in Latin America, and Southeast Asia.