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Paxful launches a cryptocurrency debit card in Mexico

October 29, 2020

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

The association enables Paxful’s Mexican customers to pay with their cryptocurrency funds using a debit card at any national and foreign point of sale.or PoS and withdraw cash from ATMs without any fees.

Bnext customers also have direct access to the P2P market to buy and sell cryptocurrency funds.. Paxful stated in the announcement that “strict banking regulations” in Mexico are encouraging people to focus on cryptocurrencies, citing numbers from Bitso cryptocurrency exchange that showed Mexico’s cryptocurrency exchange volume grew 342% from September 2019 to May 2020 .

Paxful launches a cryptocurrency debit card in Mexico
Paxful launches a cryptocurrency debit card in Mexico

Ray Youseff, CEO and Co-Founder of Paxful, assessed the partnership as a critical step towards financial inclusion::

“At Paxful, we are excited to have Bnext on board in our mission to bring financial inclusion closer. Together we are working to offer the Mexican population a secure banking alternative and at the same time to make trading in cryptocurrencies more accessible worldwide. It’s about teaming up with the right partners for the right reasons. “

Bnext is the latest addition to Paxful’s list of over 300 payment methodsand offers Mexican users the opportunity to buy and sell Bitcoin and Tether (USDT) in the market.

In July Cointelegraph en Español reported on it Colombia, Argentina and Mexico are among the six countries with the most cryptocurrency users in the world.