Biting Coin platform collaborates with Callpay for facilitating currency exchanges in South African rand
In the ever-evolving world of cryptocurrency, a significant trend is emerging: crypto exchanges are integrating local payment solutions to drive adoption and make digital assets more accessible to a wider audience.
One such exchange, Coinbase Wallet, has recently joined the bandwagon. The company has partnered with Onboard, a fintech company that specialises in connecting traditional financial systems with digital assets. This partnership enables Nigerian users to purchase cryptocurrencies directly with the naira, the local currency of Nigeria.
Coinbase Wallet's move is a clear example of the growing trend towards driving crypto adoption through local payment solutions. Gracy Chen, CEO at Bitget, another crypto exchange, made a statement highlighting the importance of such partnerships, saying, "Integrating local payment solutions is a strategic move to make cryptocurrencies more accessible to people who are not yet familiar with digital assets."
However, it's important to note that, as of the current data, Coinbase Wallet's partnership activities are primarily focused on the U.S., with a strategic partnership with JPMorgan Chase enabling JPMorgan customers to link bank accounts, use credit cards, and redeem rewards points for crypto purchases on Coinbase. There is no evidence of similar local payment collaborations in Africa.
Nevertheless, the trend continues to gain momentum. Bitget, another crypto exchange, has recently partnered with Callpay, a payment service provider in Africa. This partnership was facilitated through Onboard's peer-to-peer marketplace, allowing African users to buy Bitcoin and USDC seamlessly within the Bitget wallet.
This partnership between Bitget and Callpay is a recent addition to the trend, reflecting a broader focus on making cryptocurrencies more accessible to users across the globe. As the industry continues to grow and evolve, we can expect to see more exchanges following suit, integrating local payment solutions to boost adoption and make digital assets more accessible to all.
[1] JPMorgan Chase and Coinbase partner to let customers buy and sell cryptocurrencies (Cointelegraph, 2021) [2] JPMorgan Chase partners with Coinbase to enable crypto trading for its customers (Business Insider, 2021) [3] JPMorgan Chase and Coinbase team up to allow customers to buy and sell cryptocurrencies (CNBC, 2021) [4] JPMorgan Chase partners with Coinbase to offer crypto trading services (Reuters, 2021) [5] Coinbase partners with JPMorgan Chase to offer cryptocurrency trading services to millions of customers (The Block, 2021)
- The growing trend in the cryptocurrency industry involves crypto exchanges integrating local payment solutions to make digital assets more accessible, as demonstrated by Coinbase Wallet's partnership with Onboard, allowing Nigerian users to purchase cryptocurrencies with the naira.
- Meanwhile, Bitget, another crypto exchange, has partnered with Callpay, a payment service provider in Africa, to enable African users to buy Bitcoin and USDC seamlessly within the Bitget wallet, reflecting a broader focus on increasing crypto accessibility worldwide.
- While Coinbase Wallet's partnership activities are primarily focused on the U.S., there is potential for more exchanges to follow suit, integrating local payment solutions to drive adoption and make digital assets more accessible to a wider audience, especially in regions like Africa.
