Paxful Rolled Out Mexico-based Crypto Debit Card

By Chris Torres | October 30, 2020

Bitcoin (BTC) P2P marketplace Paxful has reportedly forged an alliance with neobank Bnext from Spain, to release its first crypto debit card across Mexico. 

Specifically, the collaboration will reportedly enable the Mexico-based clients of Paxful to utilize debit card-enabled crypto funds as a means of payment, at any  national and foreign point-of-sale (PoS), as well as initiate cash withdrawal from ATMs free-of-charge. 

Bnext customers will reportedly also be able to directly access the P2P marketplace, to conduct purchasing and selling crypto. Paxful clarified that the local’s “strict banking regulations” has shifted the citizens’ attention to cryptocurrencies, with a 342% surge recorded by crypto exchange Bitso, regarding its volume in Mexico, during September last year to May this year. 

“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.” Ray Youseff, co-founder and head of Paxful, called the collaboration a crucial step to financial inclusion. 

Bnext is the newest added means of payments to Paxful 300 other already facilitated, enabling selling and purchasing of Bitcoin and Tether (USDT) across marketplaces.

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