- OVEX announces its partnership with Paxful.
- Paxful’s customers can now expect the ‘Direct Transfer Bank’ mechanism from OVEX.
- Through this, liquidity will be enhanced, benefitting the African crypto community.
The South African-based crypto exchange platform, OVEX, known for its specialized OTC (over-the-counter) trading, reported its recent partnership with one of the leading peer-to-peer fintech platforms Paxful.
Jonathan Ovadia, CEO of OVEX stated,
We’re excited to enter this relationship with Paxful, who have become renowned for their ability to attract new users into the space.
With the rise of cryptocurrency, more people get enticed into investing in this space. However, before venturing into this market, liquidity is an important factor to consider. For countries with an increasingly curious, but novice, appetite for crypto, it is vital to have a legit and trustworthy crypto exchange to turn cryptos, like Bitcoin, into fiat money effortlessly.
In Africa, OVEX is one of the crypto exchanges responsible for this kind of service. OVEX promotes and encourages common individuals to use digital currencies and is dedicated to improving the efficiency of Africa’s crypto market.
Through the collaboration of OVEX and Paxful, the two companies’ combined services will provide more opportunities for customers to deposit and trade their cryptocurrencies easily.
As Ray Youssef, CEO and Co-founder of Paxful mentioned,
This service underscores Paxful’s mission to give everyone equal access to finance–and we will continue to make our users the central tenet of our business.
In this venture, OVEX’s “Direct Transfer to Bank” mechanism will allow the users of Paxful to smoothly convert their digital assets into fiat money and wire it to their accounts immediately upon request.
Furthermore, this underscores the two companies’ objectives—motivate more people to join the crypto market and break the barriers of financial exclusion.