[WATCH] South African Exchange, OVEX, Partners with Paxful to Provide Instant Liquidity to P2P Traders

OVEX, one of South Africa’s leading cryptocurrency exchanges, has partnered with Africa’s leading peer to peer platform, Paxful, to introduce OVEX’s ‘direct to bank’ mechanism, allowing users to instantly convert their bitcoin to fiat at the spot market price. .

With the direct transfer to the bank, users can deposit their BTC before agreeing to a locked-in conversion rate. The BTC is then converted to fiat and wired instantly on demand.

By providing the ability to easily convert crypto assets back to fiat, the people of the continent will become more confident in purchasing cryptocurrencies.

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SEE ALSO: OVEX, South Africa’s Largest OTC Crypto Office, Closes Strategic Investment in FTX, World’s Most Liquid Exchange

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Speaking of which, OVEX said:

“In areas where an increasingly tech-savvy population has little confidence in authorities and is wary of volatile national currencies, a legitimate and stable crypto alternative to fiat functions as a safe haven asset in a region of uncertainty. price is prevalent. “

– OVEX

In an exclusive interview with BitKE, Jon Ovadia, CEO of OVEX, said the company is looking to offer both ramps and ramps where Paxful customers can get as much crypto cash as they can. can get and trade on the platform seamlessly.

As part of this partnership, customers will benefit from the following benefits:

  • The instant withdrawal will reassure the growing digital currency community in Africa who want to feel that their crypto assets are liquid.
  • With OVEX’s easy-to-use features, customers who wish to cash out can agree to a locked-in conversion rate and receive a transfer instantly on demand.

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NB: Do not miss the entire exclusive interview with the CEO of OVEX which will be available soon

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RECOMMENDED READING: You must report if you have been paid in any way in crypto, says South Africa Revenue Service (SARS)

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