Peer-to-peer bitcoin marketplace Paxful has entered into a partnership with The White Company, blockchain & cryptocurrency-focused products developer, to deliver the benefits of global payments to emerging markets, states the official press release that was shared with iHodl.
According to the announcement, the partnership will allow Paxful customers to exchange their bitcoin (EXANTE: BTC.EXANTE) into Visa or MasterCard prepaid cards in 10 fiat currencies (USD, GBP, EUR, INR, AUD, CAD, JPY, HKD, CNY, BRL).
The two entities hope to provide an alternative to those with limited banking options, notes the announcement.
Elizabeth White, the CEO & Founder of The White Company says the partnership with Paxful will enable millions to access the digital economy through the simple and efficient technology that powers Paxful’s peer-to-peer marketplace.
"Together we can bring all the benefits of banking without the high costs to developing countries and the unbanked, as well as promote the usability of cryptocurrency worldwide," she added.
Both companies acknowledge that one of the biggest challenges in emerging markets such as Africa, Southeast Asia or South America, is that many people don’t have access to traditional banking systems.
Earlier, Paxful entered into a partnership with AirTM to expand its services into Latin American markets.
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