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Partnership between Paxful and OKEx to increase liquidity
Partnership between Paxful and OKEx to increase liquidity
Blockchain

Partnership between Paxful and OKEx to increase liquidity

By Amelia Tomasicchio - 15 Jun 2020

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Paxful has entered into a partnership with OkEx to provide more liquidity to the exchange so that users can have access to more payment methods for buying bitcoin.

Paxful is a marketplace for buying bitcoin in a peer to peer mode, similar to Localbitcoins. 

This integration will allow OkEx users to access over 160 fiat currencies when buying BTC, such as the British pound, Argentine peso, Indian rupee and much more. In addition, exchange users will be able to use bank transfers, gift cards and online wallets when purchasing cryptocurrencies.

“At Paxful, one of our goals is to help grow the crypto community. We 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,” said Ray Youssef, CEO and co-founder of Paxful.

In December, Paxful also partnered with Binance to improve the conversion from fiat money to crypto.

More trading options on Paxful

Moreover, users of the Paxful marketplace will have several trading options, such as spot and margin, and will benefit from a number of trading tools such as futures, options and derivatives.

“We’re delighted to partner with Paxful and share very similar goals about onboarding more people to cryptocurrency. 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,” said Jay Hao, CEO of OKEx.

The benefits of this partnership are extended to citizens around the world, including Vietnam, South Africa, Russia, Indonesia, Thailand, UK, India, Argentina, Canada, Chile, Nigeria, Kenya, Korea, Germany, France, Japan, Poland, Turkey, Ukraine and Venezuela. 

At the end of 2019, OkEx had expressed its intention to create OkChain as its proprietary blockchain, which was launched on May 25th

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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