back Back

Paxful & Cointral partner to provide easy crypto access & liquidity in Turkey

By Pavithra R

October 14, 2020

  • Cointral
  • Paxful
  • Turkey

Paxful, global peer-to-peer bitcoin marketplace has announced that the company has partnered with Cointral, a cryptocurrency trading platform and cash payment points in Turkey.

Crypto assets are gaining huge momentum among Turks. Surveys report finds that nearly 20% of Turks have owned or used crypto assets. Following the recent devaluation of the local currency Lira, the government has decided to focus on blockchain adoption as part of its economic roadmap, including a proposal to design a Central bank digital currency (CBDC) based on blockchain technology. This enthusiasm for crypto adoption is specifically beneficial to cryptocurrency marketplaces like Paxful.

“We’ve seen steady growth in Turkey for the past few months and it’s only fitting that we put more effort into the market. We are excited to partner with Cointral in bringing an easy fiat-to-cryptocurrency on-ramp and provide diverse payment methods for buying crypto to their user base,” said Ray Youssef, CEO, and co-founder of Paxful.

Under the partnership, Cointral platform will integrate web-based Paxful Kiosk giving its users access to diverse payment methods. The integration enables Cointral customers to choose from a variety of payments and currencies, making crypto purchases seamless in the global market. 

“In addition to our goal to maximize the quality of our operations in Turkey, we plan to pursue our objective of being a pioneer in the use of cryptocurrencies in the world with global partnerships. We are pleased to offer a professional variety of payment methods to our users with our partnership with Paxful,” said Ugur Hakan Cakan, Cointral Chairman of the Board and CEO.

Recently, P2P bitcoin marketplace Paxful added Tether (USDT) to its platform.

Founded in 2015, Paxful is a people-powered marketplace for money transfers with anyone, anywhere, at any time. The company’s mission is to empower the forgotten 4bn unbanked and underbanked around the world to have control of their money using peer-to-peer transactions. According to company data, Paxful has hit 4.5 mn registered wallets, reached 4.6 bn USD in trading volume, and reduced dispute levels to under 1%.

Previous Article

October 14, 2020

Thunes appoints veteran business development executive Tamer El-Emary as COO

Read More
Next Article

October 14, 2020

Top 5 FinTech funding rounds in September 2020 (UK & Europe version)

Read More

IBSi Daily News Analysis

South East Asia

February 28, 2024


FinTech penetration in Southeast Asia will double by 2027, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Klarpay launches Exclusive Accounts designed for Entrepreneurs

Read More


Nexi & Woo to expand payment choices for e-commerce merchants

Read More


Uncapped teams up with Yapily to scale funding for businesses

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023