Vietnam-based multi-crypto wallet Infinito has partnered with Paxful,
a BTC marketplace that aims to provide financial inclusion around the
globe, to provide its users with a feeless and peer-to-peer way to buy
Bitcoin with 167 fiat currencies and over 300 payment methods. The
most in-demand payment methods supported by Paxful are bank transfer,
gift cards, online wallets, and domestic wire transfer.
Infinito Wallet users can now directly purchase Bitcoin from other
crypto users around the world without having to pay any transaction
fees thanks to the seamless integration of Paxful’s web-based Virtual
Bitcoin Kiosk. The platform is also offering a limited-time 3% rebate
in ETH for all purchases made via Paxful service on the wallet. Both
Infinito and Paxful are looking to penetrate Vietnam, a market with a
rapidly growing Bitcoin investor community of 6 million people and
counting.
Jack Nguyen, Director of Infinito, said: “We’re extremely pleased to
be Paxful’s first-ever crypto wallet partner to enable Bitcoin
ownership for even more people all over the world and penetrate the
Vietnam market. This shared vision between Paxful and Infinito for a
simple, fair, and secure economy for all empowered by cryptocurrencies
has driven us to build a safe and accessible platform to purchase
Bitcoin. We hope that our joint efforts will bring about greater
accessibility to Bitcoin for the masses, especially for people still
foreign to the concept of digital assets.”
Ray Youssef, CEO, and co-founder of Paxful, commented: “As we continue
our work in emerging markets, this unique partnership with Infinito
aims to bring bitcoin to the masses and promote the usability of
cryptocurrency. Together, we enable people everywhere to directly
purchase Bitcoin at the best prices without having to pay any
transaction fees. We’re excited to see how this will drive financial
access and more opportunities for people worldwide.”
Amidst the global financial crisis caused by the Covid-19 pandemic,
both Infinito and Paxful claim to have observed sharp increases in
crypto purchasing volume on their respective platforms, especially
from Vietnamese users. In Q1 of 2020, Paxful saw over a 43% increase
in new user signups in Vietnam compared to Q4 of 2019, with a massive
262% increase in trading volume. Vietnamese seller volume also grew by
69% while the volume of buyers rose by more than 115% on the platform,
both with bank transfer as the leading payment method. Similarly,
Infinito has reported a colossal 710% increase in buying amount from
January to February 2020 for Vietnamese users alone and over 107%
increase for global users.
Paxful was founded in 2015 in New York. The platform has recently
introduced an improved Security Deposit System that uses the vendor’s
trade history, responsiveness, and overall trade success in
calculation. This strengthens the safety measures and should make
trading more affordable.
