Global peer-to-peer (P2P) cryptocurrency marketplace Paxful has announced a strategic partnership with Bithumb Global, South Korea’s premier digital currency exchange. This collaboration aligns with both platforms’ mission to advance financial inclusion worldwide by leveraging their combined resources and user bases.
Key Highlights of the Partnership
- Bithumb Global’s Market Dominance: With 8 million registered users, 1 million mobile app users, and a cumulative transaction volume exceeding $1 trillion, Bithumb Global is a powerhouse in the Asian crypto market.
- Paxful’s Role: Acts as a fiat-to-crypto gateway, offering Bithumb customers access to 300+ payment methods for purchasing cryptocurrencies.
- Shared Vision: Both companies prioritize scalability, adoption, and real-world utility for digital currencies.
South Korea’s Crypto Landscape
South Korea is a critical hub for cryptocurrency innovation, characterized by:
- High adoption rates among its tech-savvy population.
- Progressive regulatory developments, including the Bank of Korea’s pilot for a central bank digital currency (CBDC).
- A thriving ecosystem of exchanges and blockchain projects.
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Statements from Leadership
Javier Sim, Co-Founder and Managing Director of Bithumb Global:
"This partnership with Paxful enhances our users’ access to secure, efficient fiat-to-crypto solutions, marking a pivotal step in our global expansion strategy."
Ray Youssef, Co-Founder and CEO of Paxful:
"Joining forces with Bithumb Global accelerates our goal of breaking down financial barriers and fostering a borderless digital economy."
Promotional Giveaway
To celebrate the partnership, Paxful and Bithumb Global launched a 5,000 USDT giveaway for users participating in kiosk trades until October 31, 2020.
FAQs
1. How does Paxful’s integration benefit Bithumb Global users?
Paxful provides a seamless fiat on-ramp, enabling users to buy crypto via 300+ payment options, including bank transfers, e-wallets, and gift cards.
2. What makes South Korea a key market for cryptocurrencies?
The country’s advanced tech infrastructure, high crypto adoption, and supportive regulatory pilots (e.g., digital won) position it as a global leader.
3. Are there fees for using Paxful’s services via Bithumb?
Standard transaction fees apply based on Paxful’s P2P marketplace model. Users should review both platforms’ fee structures.
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About the Companies
Paxful
- Founded in 2015, Paxful serves 4.5 million users worldwide.
- Supports trading of Bitcoin (BTC) and Tether (USDT).
- Initiatives like #BuiltWithBitcoin fund schools in emerging markets.
Bithumb Global
- A top-tier exchange offering Spot and Margin Trading for major cryptocurrencies (BTC, ETH, XRP, etc.).
- Part of the Bithumb family, a dominant force in Asia’s crypto scene.
For media inquiries:
Nina Paragoso
[email protected]