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Bitcoin (BTC) P2P market Paxful partnered with Spanish neobank Bnext to launch its first crypto debit card in Mexico.
The partnership will allow Paxful’s Mexican customers to use their crypto funds to pay with a debit card at any domestic and foreign point of sale, or PoS, and even withdraw cash from ATMs without fees.
Bnext clients will also have direct access to the P2P market to buy and sell cryptocurrencies. Paxful explained in the announcement that “strict banking regulations” in Mexico are encouraging people to focus on cryptocurrencies and cited data from cryptocurrency exchange Bitso which revealed 342% growth in the volume of cryptocurrency trading in Mexico. from September 2019 to May 2020.
Ray Youseff, CEO and co-founder of Paxful, called the partnership a fundamental step towards financial inclusion:
“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, making cryptocurrency trading more accessible globally. It’s about joining forces with the right partners, for the right reasons. “
Bnext is the latest addition to Paxful’s list of over 300 payment methods, offering Mexican users the ability to buy and sell Bitcoin and Tether (USDT) on the market.
In July, Cointelegraph Spanish reported that Colombia, Argentina and Mexico are among the six countries with the largest number of cryptocurrency users in the world.
