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March 8, 2021

Margex, OpenMonet collaborate on decentralised cryptocurrency payment options

By Johney Amala

Cryptocurrency trading platform Margex has teamed up with OpenMonet to facilitate seamless and decentralised cryptocurrency payment options on its platform.

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OpenMonet’s Peer-to-Peer solution enables users to buy or sell cryptos almost instantly, free from high fees, unrealistic orders, or centralised entities.

It also allows no communication between buyers and sellers during the trading process, enhancing speed and convenience of crypto transactions.

As part of the tie-up, this P2P platform will be made available to all users directly on Margex.

This platform is said to automatically find the best available offers in over 150 fiat currencies and more than 400 payment methods, and offer them to the user, at a lower cost.

The partnership with OpenMonet’s is claimed to poise Margex as a front-runner in the area of cryptocurrency deposits and withdrawals, compared to other bitcoin-based trading platforms.

Moreover, OpenMonet’s simplified verification process and non-invasive limits is expected to help Margex in disrupting the cryptocurrency trading industry.

The range of payment methods available on the platform, including PayPal, credit card, and wire transfers among others, bolsters its accessibility.

Margex, which was launched last month globally, provides up to 100x leverage on all its trading pairs such as Ethereum, Bitcoin,  EOS, Litecoin, Ripple, and exclusively Yearn.finance.

The platform features an MP-Shield system that utilises artificial intelligence to automatically identify irregularities in the trade feed submitted by liquidity pools, eliminating the risk of accidental liquidations.

In January this year, US-based blockchain fintech startup PAYMYNT Financial acquired cryptocurrency payments technology company LettucePay.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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