AAX partners with Banxa to allow users to buy crypto using fiat

AAX has partnered with Banxa, a leading global on-and-off ramp solution for Web3, to allow customers to purchase cryptocurrencies using fiat currency and vice versa.

AAX is known for being the first cryptocurrency exchange to switch to the Satoshi Standard (SATS) to drive the adoption of Bitcoin. As such, the exchange carries a commitment to make crypto adoption as easy as possible for the mainstream crypto space.

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AAX holds a solid belief in crypto even amid the current market turmoil and it is on a mission to create a crypto economy that is liberating and inclusive.

Why partner with Banxa?

As a leading global on-and-off ramp solution for Web3, Banxa enables customers to use local payment and banking options with less friction while charging fewer fees and providing better fraud protection.

Partnering with Banxa will therefore allow users to quickly and securely convert fiat to cryptocurrencies and vice versa. That means AAX users will be able to convert their cryptocurrencies into fiat and withdraw for their day-to-day use whenever they need to.

AAX users will be able to cash out in GBP, AUD, USD, and EUR

Commenting on the development, the Head of Research and Strategy at AAX, Ben Caselin, 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.”

AAX users in Brazil, Tokyo, and Korea will be able to use credit cards and direct bank transfers to purchase cryptocurrencies that range from BTC, ETH, SOL, DOT, and BNB to 49 other cryptocurrencies.