Paxful, a Bitcoin trading platform that facilitates peer-to-peer transactions, today announced that it has partnered with BitMart to create a joint venture. BitMart is a cryptocurrency trading platform serving over 600,000 customers globally, hence, the partnership is a way for the two companies to scale their operations and improve the liquidity offered to their customers.
The joint venture will enable BitMart clients to make payments through Paxful without leaving the BitMart platform. The partnership will allow BitMart to enter into the high growth peer-to-peer crypto transactions niche, which is a financial movement that is gaining momentum.
Paxful users will also benefit from the partnership by getting direct access to a larger number of tradeable instruments given BitMart’s 180 tradeable pairs. The joint venture will also position BitMart strategically as a major exchange that also operates within the peer-to-peer niche giving P2P users access to the global financial system.
CEO and co-founder of Paxful, Ray Youssef commented:
We’re excited to integrate with BitMart in efforts to bring more trading options to emerging markets. It has always been our mission to provide financial freedom worldwide and we see this as the next big step in the financial revolution.
Sheldon Xia, Founder & CEO of BitMart, said:
BitMart has always been a mission to offer convenient and secure financial services in the crypto market. An integration with a revolutionary company such as Paxful allows us to bring digital asset trading to those who would otherwise not have had the access. With this partnership, investors will now have direct access to multiple payment approaches including bank transfers, gift cards, debit/credit cards, and cash deposits, lowering the barriers to entry for new adopters of digital currency investment.