Paxful and OKEx Announce Strategic Partnership to Provide Easy Access and Liquidity to Global Communities
June 15, 2020 — Paxful, a peer-to-peer bitcoin (BTC) marketplace that aims to provide financial inclusion around the globe, announced today a strategic partnership with OKEx, a world-leading cryptocurrency exchange with high liquidity and cold storage technologies. This partnership will 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. It 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.
For more information or to access the Paxful Kiosk on OKEx, users can visit the OKEx website.
Paxful is a people-powered marketplace for money transfers with anyone, anywhere, at any time. Their mission is to empower the forgotten four billion unbanked and underbanked around the world to have control of their money using peer-to-peer transactions. The company, founded in 2015, has over 3 million customers globally who you can instantly buy and sell bitcoin with—using over 300 different payment methods.
As part of their mission Paxful also launched #BuiltWithBitcoin, a social good initiative with the goal of building 100 schools funded entirely by bitcoin all across emerging markets. Paxful was co-founded in 2015 by Ray Youssef, Chief Executive Officer, and Artur Schaback, Chief Operating Officer.
The world’s largest and most diverse cryptocurrency marketplace, OKEx is where global crypto traders, miners, and institutional investors come to manage crypto assets, enhance investment opportunities, and hedge risks. We provide spot and derivatives trading, including futures, perpetual swap, and options, of major cryptocurrencies, offering investors great flexibility in formulating their strategies to maximize gains and mitigate risks.