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Paxful launches crypto debit card in Mexico

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

The partnership will enable Paxful’s Mexican clients to make use of their crypto funds to pay with a debit card in any nationwide and international point-of-sale, or PoS, and even withdraw money from ATMs with out charges.

Bnext clients may even have direct entry to the P2P market to purchase and promote crypto. Paxful defined within the announcement that “strict banking rules” in Mexico are encouraging folks to give attention to cryptocurrencies, and quoted figures from crypto alternate Bitso that exposed a development of 342% within the crypto alternate’s quantity in Mexico from September 2019 to Could 2020.

Ray Youseff, CEO and co-founder of Paxful, known as the partnership a crucial step in the direction of monetary inclusion:

“At Paxful, we’re delighted to have Bnext on board in our mission to convey monetary inclusion nearer. Collectively, we work to supply a secure banking various to the Mexican inhabitants, whereas making cryptocurrency buying and selling extra accessible globally. It is about becoming a member of forces with the appropriate companions, for the appropriate causes.”

Bnext is the newest addition to Paxful’s listing of greater than 300 cost strategies, providing Mexican customers the flexibility to purchase and promote Bitcoin and Tether (USDT) on {the marketplace}.

In July, Cointelegraph Spanish reported that Colombia, Argentina, and Mexico are among the many six international locations with probably the most cryptocurrency customers on this planet.


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