Bitcoin (BTC) P2P Paxful has partnered with Spanish neobank Bnext to launch Mexico’s first crypto debit card.
The partnership will allow Paxful’s Mexican customers to use cryptocurrency to pay with a debit card at any national and international point of sale, and even withdraw cash from ATMs for free.
Bnext customers will also have direct access to the P2P marketplace for buying and selling cryptocurrencies. In a statement, Paxfull explained that Mexico’s “strict banking regulations” are encouraging people to focus on cryptocurrencies, and the numbers were quoted on Bitso, a cryptocurrency exchange that saw a 342% increase in Mexico’s cryptocurrency exchange volume from September 2019 to May 2020.
Ray Yusuf, CEO and co-founder of Paxful, described the partnership as an important step towards financial inclusion:
At Paxful, we are excited to join Bnext on our mission to improve financial inclusion. Together, we are working to offer the people of Mexico a secure banking alternative, making digital currency trading more accessible worldwide. with the right partners for the right reasons. ”
Bnext is the latest addition to Paxful’s list of over 300 payment methods, giving 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 were among the six countries with the most cryptocurrency users in the world.