Crypto Marketplace Paxful Integrates With Cryptocurrency Exchange OKEx

News | June 15, 2020 By:

Peer-to-peer (P2P) bitcoin marketplace Paxful has announced a strategic partnership with OKEx, a cryptocurrency exchange with high liquidity and cold storage technologies.

As part of the partnership, Paxfu Kiosk will be integrated directly onto the OKEx platform, for new and existing OKEx users. The integration will reportedly provide 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 payment methods which include bank transfer, gift cards, online wallets, domestic wire transfer, and many more.

The partnership will also enable users 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. The overall goal of the partnership is to integrate over 100 million users and allow 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,” said Ray Youssef, CEO, and co-founder of Paxful. “AWe 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.”

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,” said Jay Hao, OKEx CEO. “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.”