Paxful, leading peer-to-peer marketplace for the sale and purchase of bitcoin and Giftcards has partnered with BlockCard to offer a cryptocurrency debit card to its users. The debit card will enable Paxful users to convert cryptocurrencies to USD, make purchases, get a checking account and withdraw funds from any ATM globally.
BlockCard is a financial technology platform developed by Ternio.
According to Paxful, “the partnership aims to fill a gap in the traditional financial system that has left many without access to essential banking products.”
Paxful users through BlockCard will have a virtual card issued to them while a physical card is mailed to them. The Card has a minimum limit of $10 which is the minimum trade limit on the peer to peer platform. The Card can be used across the globe at major places where credit cards are accepted.
Speaking on the partnership, Ray Youssef, CEO of Paxful said “Access to reliable and affordable financial products is indispensable.”
He continued on saying: “Whether looking to invest in education, start a business, or simply manage the financial demands of everyday life, there should be a viable option for everyone across the globe. Paxful has always been dedicated to providing that option, be it to users who are in the platform as a matter of preference, or necessity.”
According to the statement issued by Paxful, BlockCard will provide dedicated technical customer service and all-in-one services on its Mobile App.
The CEO and founder of Ternio, Daniel Gouldman, said the firm is committed to providing interoperability between cryptocurrencies and traditional banking system.
In his words, Paxful is a “best in class peer to peer bitcoin marketplace, so we’re pumped up about being able to provide their customers access to the BlockCard platform,” (and) It’s going to be fun to pair together all of the strengths of Paxful with Blockcard’s global debit card and bank account capabilities.”
The Card is currently available only to US Users but there’s global expansion in development. Users can order their Paxful Card at https://debitcard.paxful.com