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Infinito And Paxful Partner to Accelerate Cryptocurrency Adoption Across the World

Nicholas Otieno   May 12, 2020 02:11 3 Min Read


   

Infinito, a multi-crypto wallet provider, has partnered with Paxful, peer-to-peer Bitcoin platform, with an aim to offer financial inclusion across the world. Such a partnership sets to see Paxful’s web-based Virtual Bitcoin Kiosk integrated on the Infinito wallet platform. From now, Infinito wallet users can directly buy Bitcoin at the best prices from other crypto users around the globe safely without having to pay any transaction fees. 

The new relationship means that Infinito wallet users can now seamlessly transact with any other crypto users on Paxful.

The strategic integration between Paxful and Infinito unlocks convenient payment methods for Infinito wallet users to purchase Bitcoin with more than 160 fiat currencies such as Canadian dollar (CAD), Chinese yuan, USD, GBP, and many more. Paxful supports the most in-demand payment methods such as online wallets, gift cards, domestic wire transfer, bank transfer, and many more.

To fully optimize and simplify the wallet cryptocurrency purchasing experience, customers are instantly matched with traders who are providing the best price on Paxful’s platform based on the payment method and currency chosen. Purchased funds are efficiently delivered to the buyer’s wallet address, thus removes the extra hassle of transferring funds between different platforms.

The Aim to Democratize Finance

Both Paxful and Infinito aim to penetrate Vietnam, a highly potential market with a fast-growing Bitcoin investor community of more than 6 million people. Paxful aims to expand its reach in Vietnam in terms of increased signups on its platform. In Q1 of 2020, the peer-to-peer marketplace experienced an increase in its customer base in Vietnam by 43%. The rise of signups also led to an increase in peer-to-peer trading volume by 262%.

Jack Nguyen, Infinito director, said that Paxful being the first-ever crypto wallet partner sets to provide an opportunity to have Bitcoin available to the masses in Vietnam and around the globe.   He stated that this would encourage more people to use the leading cryptocurrency.

Ray Youseff, CEO of Paxful, sees the integration as part of the need to offer and create crypto products that provide real-world solutions.

Apart from Vietnam, Paxful is seeking to create an impact on Bitcoin adoption by focusing on markets in Russia and India. The firm also targets boosting its presence in Southeast Asia and Latin America regions.

Amid the global financial crisis caused by the coronavirus epidemic, cryptocurrency and Bitcoin have been gaining significant traction as more people search for different means to diversify their different sources of income. Bitcoin ownership around the world is rising rapidly, and both Paxful and Infinito have experienced a steadily increase in the volumes of cryptocurrency purchases on their platforms, particularly from Vietnamese users.

Infinito and Paxful are now looking forward to attracting more users with a “crypto investment competition” that allows users to experience how cryptocurrency works before investing. Infinito now offers a 3% rebate for all Ethereum purchases done through the Paxful platform.

Making A Difference in Africa

Last week, Paxful launched “Africa Fund” to build its reach in Africa by using Bitcoin donations to enable the continent to overcome the current coronavirus pandemic. The fund aims to use Bitcoin donations to buy essential resources for the fight against the COVID-19 outbreak. The company believes that the world has a lot to learn from Africa about the future of the crypto economy. The firm also believes that the continent has tremendous potential and sees people of Africa as teaching the rest of the world about the true use cases of Bitcoin. According to the company, Africa presents an opportunity for greater financial inclusion of the unbanked and underbanked.

 

Image via Shutterstock


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