Paxful introduces crypto debit card in Mexico. Bitcoin (BTC) P2P marketplace Paxful has joined forces with Spanish neobank Bnext, launching its first crypto debit card in Mexico. With the partnership, Paxful’s Mexican customers will now be able to use their crypto funds to pay with a debit card in any national and foreign point-of-sale, or PoS, and even withdraw cash from ATMs without fees.
Bnext customers will also have direct access to the P2P marketplace to buy and sell crypto. Paxful explained in the announcement that “strict banking regulations” in Mexico are encouraging people to focus on cryptocurrencies, and quoted figures from crypto exchange Bitso that revealed a growth of 342% in the crypto exchange’s volume in Mexico from September 2019 to May 2020.
Ray Youseff, CEO and co-founder of Paxful, called the partnership a critical step towards financial inclusion “At Paxful, we are delighted to have Bnext on board in our mission to bring financial inclusion closer. Together, we work to offer a safe banking alternative to the Mexican population, while making cryptocurrency trading more accessible globally. It’s about joining forces with the right partners, for the right reasons.”
Bnext is the newest addition to Paxful’s list of more than 300 payment methods. The firm offers Mexican users the opportunity to buy and sell Bitcoin and Tether (USDT) on the marketplace.
[image: Jorge Aguilar]