Paxful and Infinito are partnering at a time the latter, a P2P trading platform, has seen its users in Vietnam increase by 43% in Q1, 2020
Multi-crypto wallet provider, Infinito, has partnered with peer-to-peer Bitcoin (BTC) platform Paxful, in a relationship that sees the former integrate the P2P Bitcoin trading platform’s services.
The relationship means users of Infinito Wallet can now seamlessly access and benefit from transacting with any other crypto user on Paxful.
According to the announcement made Monday, May 11, 2020, Infinito Wallet users have been provided with an opportunity to buy Bitcoin directly from other crypto users, all without incurring any transaction fees.
The deal takes into account Paxful’s Virtual Bitcoin Kiosk, a web-based tool that allows for virtual trading of BTC. This feature now seamlessly integrates with the Infinito Wallet to connect the wallet’s users with others from all over the world.
According to the press release, the partnership makes it easy for Infinito Wallet users to access several payment methods as they seek to buy BTC.
Among other payment methods, users can purchase Bitcoin using any of Paxful-supported payment methods, including, bank transfers, e-wallets, domestic wire transfers, and gift cards. In addition, users will access more than 160 fiat currencies, including GBP, USD, Chinese yuan, and Canadian dollar (CAD) among others.
Infinito Director Jack Nguyen said in a statement that being “Paxful’s first-ever crypto wallet partner” provides an opportunity to have Bitcoin available to the masses in Vietnam and around the world. According to him, this would encourage more people to use Bitcoin. He added:
“We hope that our joint efforts will bring about greater accessibility to Bitcoin for the masses, especially for people still foreign to the concept of digital assets.”
Paxful CEO, Ray Youseff, on his part believes that the integration is part of the need to create and offer crypto products that offer real-world solutions.
Paxful, which last week launched a crypto fund for Africa, is seeking to expand its reach in Vietnam on the back of a strong first quarter in terms of increased signups on its platform. In Q1 of 2020, the P2P marketplace saw its user base in the country increase by 43%. The surge in signups also led to peer-to-peer trading volume grow by 262%.
As well as Vietnam, Paxful wants to make an impact on Bitcoin adoption by focusing on markets in India and Russia. The company also targets boosting its presence in Latin America and Southeast Asia regions.
The new users joined the platform despite the ongoing COVID-19 pandemic, likely a reason for the increased adoption. Paxful and Infinito are now looking to attract more users with a “crypto investment competition” that allows the user to experience how crypto works before investing.
Infinito is offering a 3% rebate for all ETH purchases done through the Paxful platform as from today, May 11, 2020.