Paxful Partners With Spanish Neobank Bnext To Launch Its First Crypto Debit Card In Mexico
Paxful Partners With Spanish Neobank Bnext To Launch Its First Crypto Debit Card In Mexico
October 31, 2020
Paxful Partners With Spanish Neobank Bnext To Launch Its First Crypto Debit Card In Mexico
Paxful Partners With Spanish Neobank Bnext To Launch Its First Crypto Debit Card In Mexico
October 31, 2020

Paxful, the Bitcoin (BTC) P2P marketplace, has partnered with Spanish neobank Bnext to launch its first crypto debit card in Mexico.

It has been reported that the partnership will allow Paxful’s Mexican customers to use their crypto funds to pay with a debit card in any national and foreign point-of-sale (PoS) and even withdraw cash from ATMs without fees.

However, Bnext customers will also have direct access to the P2P marketplace to buy and sell crypto, as Paxful explained that “strict banking regulations” in Mexico are encouraging people to focus on cryptocurrencies and quoted figures from crypto exchange Bitso that revealed growth of 342% in the crypto exchange’s volume in Mexico from September 2019 to May 2020.

Ray Youseff, the CEO and co-founder of Paxful, called the partnership a critical step towards financial inclusion.

Youseff said:

“At Paxful, we are delighted to have Bnext on board in our mission to bring financial inclusion closer. Together, we work to offer a safe banking alternative to the Mexican population, while making cryptocurrency trading more accessible globally. It’s about joining forces with the right partners, for the right reasons.”

Likewise, Bnext is also the latest addition to Paxful’s list of more than 300 payment methods, offering Mexican users the ability to buy and sell Bitcoin and Tether (USDT) on the marketplace.

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Thus, the card itself is to be issued by Bnext, though the project is endorsed by Paxful’s P2P marketplace.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.