According to a press release shared by the team at Paxful, a platform for exchanging and selling bitcoin, a crypto debit card has been launched in collaboration with BlockCard with the aim of expanding their offer internationally.
Paxful is one of the largest platforms on the African continent that allows exchanging bitcoin (BTC) with many different payment solutions: we are talking about over 300 different payment methods.
Whereas BlockCard is a platform of the Ternio group, which allows users to interact with crypto assets in a simplified way thanks to debit cards and bank accounts that can be connected, thanks to its recent partnership with VISA.
The Paxful crypto debit card
These new debit cards will first be launched on the US market and will allow American users to convert cryptocurrencies into dollars and carry out purchases with them, as well as withdraw money from traditional ATMs.
Users will have both a virtual card, so they can manage it directly from their smartphone, and a physical card, so they can use it directly in all shops and ATMs around the world, as it will work like a normal debit card.
Having access to reliable and secure financial instruments is crucial, emphasised the CEO and co-founder of Paxful, Ray Youssef:
“Access to reliable and affordable financial products is indispensable. Whether looking to invest in education, start a business, or simply manage the financial demands of everyday life, there should be a viable option for everyone across the globe. Paxful has always been dedicated to providing that option, be it to users who are in the platform as a matter of preference, or necessity”.
Surely Paxful is the best peer-to-peer platform for trading BTC, as recalled by the CEO and co-founder of Ternio, Daniel Gouldman:
“Paxful is a best in class peer to peer bitcoin marketplace, so we’re pumped up about being able to provide their customers access to the BlockCard platform. It’s going to be fun to pair together all of the strengths of Paxful with Blockcard’s global debit card and bank account capabilities. Ternio is committed to providing interoperability between cryptocurrencies and the traditional banking system”.
This partnership seems to underpin the vision of a world where banks and the traditional financial system will stand alongside each other and not as competitors, as the CEO of Paxful himself revealed in a recent interview.