Digital asset trading platform bit mart Deepened collaboration with virtual currency payment infrastructure providers Bansha Build an ecosystem for BMX, BitMart's native token.
BitMart and Banxa will jointly launch a fiat-to-BMX purchasing service for users around the world, the companies announced on Tuesday (April 2). press release.
“This initiative aims to provide users with more efficient and convenient BMX trading services and will further expand BMX liquidity,” the release states.
With this project, the two companies are building on a relationship established in March 2023, according to the release.
Since then, BitMart has leveraged Banxa's licensed and registered credentials and diverse payment methods to provide localized payment services globally, the release states. This feature allows users to acquire cryptocurrencies conveniently, quickly, and at low cost.
With the Banxa integration, BitMart will enable users in 160 countries and territories to purchase BMX and 150 other cryptocurrencies using more than 30 fiat currencies, according to the release.
According to the release, the expanded partnership will allow BitMart users to more conveniently exchange fiat currency for BMX. BMX holders can receive discounts on trading fees on BitMart's platform and participate in other activities on the platform.
According to the release, more than 800,000 users of the BitMart platform currently own a BMX.
“The BMX ecosystem takes another big step forward with the launch of seamless BMX purchasing services through Banxa,” the release states. “As BitMart’s native token, BMX is gradually expanding its token liquidity and playing a more central role in the ecosystem’s infrastructure, including wallets and DEXs.”
BitMart was ranked #9 on PYMNTS as of January 31st. Virtual currency app provider rankingrank these app Based on number of downloads, average monthly users, and other factors.
At the time, BitMart's app score was 50 out of 100, an increase of 3 points from the previous time.
Banxa acts as a gateway into and out of Web3, combating possible fraud when converting fiat to cryptocurrencies, says Banxa Holdings CEO holger allians He told PYMNTS in an interview published in June 2022.
“These gateways, these intersections between the physical world and the world of digital assets, that’s where we can truly fight fraud,” Arians said.
