Paxful to Roll Out Crypto Debit Card for US Customers

The peer-to-peer digital asset marketplace is launching a Visa card, starting in the U.S. market.

AccessTimeIconNov 2, 2020 at 2:18 p.m. UTC
Updated May 9, 2023 at 3:13 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Peer-to-peer digital asset marketplace Paxful is launching a crypto debit card.

The Visa card enables users to convert cryptocurrencies to U.S. dollars at time of purchase and comes via partnership with cryptocurrency fintech platform BlockCard.

  • Paxful CEO Proposes New Peer-to-Peer Electronic Market System; Bitdeer Stock Slumps Nearly 30% in Trading Debut
    01:21
    Paxful CEO Proposes New Peer-to-Peer Electronic Market System; Bitdeer Stock Slumps Nearly 30% in Trading Debut
  • Paxful CEO Addresses Peer-to-Peer Bitcoin Exchange Suspending Its Operations
    10:59
    Paxful CEO Addresses Peer-to-Peer Bitcoin Exchange Suspending Its Operations
  • Peer-to-Peer Bitcoin Exchange Paxful Is Suspending its Marketplace
    06:35
    Peer-to-Peer Bitcoin Exchange Paxful Is Suspending its Marketplace
  • Stablecoins Explained: 3 Things You Need to Know
    02:58
    Stablecoins Explained: 3 Things You Need to Know
  • Users will be able to make payments and withdraw funds at over 45 million merchants and ATM locations worldwide, according to a press statement. At launch, the card is available to U.S. users only, but will expand to other regions going forward, Paxful said Monday.

    The partnership is touted as plugging a hole in traditional banking that has left as many as 1.7 billion unbanked, according to the latest figures by the World Bank. Meanwhile, in the U.S. 25% of households are either unbanked or underbanked, according to a 2017 survey by the Federal Deposit Insurance Corporation.

    “Access to reliable and affordable financial products is indispensable,” Paxful CEO and co-founder Ray Youssef said. 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."

    The debit card will be issued virtually while users await a physical card to be mailed to them via Blockcard's service. A minimum balance of $10 will be required.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.