Peer-to-peer Bitcoin marketplace Paxful has announced it has partnered with blockchain exchange and wallet AirTM.

The move means Paxful users will now be able to fund and withdraw Bitcoin from their accounts using AirTM as a payment method.

Both organisations operate largely across Latin America where they work with emerging markets and unbanked communities.

The partnership will allow the two companies to provide a service similar to PayPal across economically-challenged communities which have been historically affected by hyperinflation and lack of banking security.

According to AirTM CEO Ruben Galindo, the introduction of a peer-to-peer platform will allow currencies to be traded for Bitcoin and introduce crypto to 300,000 new customers while opening up almost $6m in monthly transaction volume.

Possibilities

“There are many synergies between AirTM and Paxful, and we are excited to partner with them to offer more possibilities to our users and expand globally,” he said.

“Both AirTM and Paxful believe in the future of peer-to-peer finance. In efforts to aid the unbanked and those affected by hyperinflation, this partnership will allow us to join forces with Paxful under one unified voice.”

Cryptocurrency adoption in Latin America – particularly Venezuela – has risen quickly in recent months. This is something Paxful’s co-founder and CEO Ray Youssef is keen to encourage.

“As we continue our work in emerging markets, these numbers are sure to rise,” he said.

“We hope to see economic stability for the underrepresented take flight in Latin America, and want to be the ones paving the way for those freedoms.”

Who are Paxful?

Paxful is a peer-to-peer Bitcoin-led marketplace with a stated mission to provide emerging markets with a simple, fair, and secure platform for trading cryptocurrency. It aims to bring financial inclusion to the under-banked and unbanked through peer-to-peer finance. Every user gets a free digital wallet that lets them send, receive, and store Bitcoin.

Who are AirTM?

AirTM is a Mexico-based e-wallet connected to more than 300 bank and e-money systems via a peer-to-peer network and direct bank connections. Users hold their money as dollars or cryptocurrency and can send and receive funds domestically and internationally.

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.