Paxful sees massive potential for crypto adoption in the country and aims to expand its local footprint
Known for its abundance of payment methods and mission for financial inclusion, global peer-to-peer cryptocurrency marketplace Paxful joins forces with Cointral, a cryptocurrency trading platform and cash payment points in Turkey. The partnership will integrate the web-based Paxful Kiosk onto the Cointral platform giving its users access to diverse payment methods that Paxful presents. From bank transfers to gift cards, Cointral customers can choose from a variety of payments and currencies, making crypto purchases a truly seamless experience in the global market.
A survey reports that nearly 20% of Turks have used or owned crypto assets. Following the recent devaluation of the local currency, Lira, the government decided to focus on blockchain adoption as part of its economic roadmap, including a proposal to design a Central bank digital currency based on blockchain technology. The country’s enthusiasm for crypto adoption is particularly beneficial to cryptocurrency marketplaces like Paxful, as Turkey sees a growing need for digital currencies.
“We’ve seen steady growth in Turkey for the past few months and it’s only fitting that we put more effort into the market. We are excited to partner with Cointral in bringing an easy fiat-to-cryptocurrency on-ramp and provide diverse payment methods for buying crypto to their user base,” said Ray Youssef, CEO, and co-founder of Paxful.
“In addition to our goal to maximize the quality of our operations in Turkey, we plan to pursue our objective of being a pioneer in the use of cryptocurrencies in the world with global partnerships. We are pleased to offer a professional variety of payment methods to our users with our partnership with Paxful,” said Ugur Hakan Cakan, Cointral Chairman of the Board and CEO.
Paxful is a platform that allows users to buy and sell Bitcoin and other cryptocurrencies with more than 300 payment options. In addition to the crypto-currency trading, Cointral offers a wide array of services with features such as OTC for high-volume operations, P2P, a first in Turkey, quick-swap, and cash purchases.
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