The partnership between the two entities will make it easier for users to purchase cryptocurrencies with fiat currencies.
Banxa, the leading global on-and-off ramp solution for Web3, announced on Wednesday that it has partnered with AAX, the institutional-grade cryptocurrency exchange.
The partnership will see AAX customers being able to purchase cryptocurrencies with fiat currencies and vice versa using Banxa.
While commenting on this latest partnership, Ben Caselin, Head of Research and Strategy with AAX, said;
“Partnering with Banxa to offer more options around the on and off-ramps into crypto and strengthen crypto-to-fiat liquidity is a crucial part of AAX’s expansion work, especially as we engage the mainstream and enter new market frontiers.”
Banxa said its customers could enjoy the highest conversion and lowest fees on AAX for the broadest range of currencies and payment methods using credit cards and direct bank transfers in Tokyo, Korea and Brazil.
At the moment, AAX users can use Banxa to purchase BTC, ETH, SOL, DOT, BNB and 49 other cryptocurrencies using local fiat payment options. The available fiat currencies for cashing out of cryptocurrencies include GBP, AUD, USD, and EUR.
Banxa added that its partnership with AAX can help break down the barriers to customers accessing the crypto markets worldwide.
AAX is the first cryptocurrency exchange to switch to the Satoshi Standard (SATS) to drive bitcoin adoption. Despite the current bear market, AAX remains committed to building and creating an inclusive and liberating economy.
AAX also claims to be the first exchange to be powered by LSEG Technology, offering high-yield savings packages, 200+ spot pairs, deeply liquid futures markets, regular discounts on major tokens and a range of on- and off-ramp products.
Banxa, on the other hand, is a platform that allows customers to utilise local fiat payment and banking options with less friction, fewer fees, and better fraud protection.
Furthermore, its users can quickly and securely convert fiat currency to cryptocurrencies and back again.