Crypto trading platform BitMart[1] has announced the integration of peer-to-peer (P2P) bitcoin marketplace Paxful[2] onto its exchange as the two companies look to increase liquidity and scalability, they said on Thursday.
The integration will allow users to make payments via Paxful on the BitMat platform. Customers of BitMart will have more payment options to choose from, while Paxful’s customers will gain direct access to the digital asset trading platform and over 180 additional trading pairs.
The two companies said the goal of this collaboration is to provide customers with a broader range of functionalities and opportunities.
“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,” said Sheldon Xia, founder and CEO of BitMart.
Launched in 2017, BitMart is a crypto-to-crypto trading platform headquartered in the Cayman Islands with branch offices in China, South Korea and the US. The company claims more than 600,000 customers worldwide and over US$70 million in daily trading volume[3].
“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,” Xia added.
Paxful is a P2P marketplace that allows users to buy bitcoin directly from other people. It’s a listing service like Craigslist where sellers list their ads to sell bitcoins and select the payment methods they wish to accept, whether that’s PayPal, debit cards, bank transfers or even gift cards.
Buyers can search for deals based on their preferred payment method. Once payment is made, the bitcoins are released
