Residents of Mexico are about to have greater access to their cryptocurrency. Paxful has announced that it will introduce a new crypto debit card in partnership with a Spanish bank. The card is expected to be available before the end of the year, and it features an absence of fees for ATM withdrawals.

Paxful is already a popular service for those in Mexico who buy, sell, and invest in cryptocurrency. The company is teaming up with Bnext, a Spanish neobank to offer the Mexican crypto debit card.

The announcement states that individuals will be able to use the card to pay for goods and services at both physical and online retailers. In addition to POS transactions, the card can also be used at ATM machines to withdraw funds. Paxful has stated that there will be no fees for ATM transactions.

Paxful has already proven itself to be a useful financial service for those living and working in Mexico. It offers 300 individual payment methods. Paxful also makes it possible for users to buy, sell, and trade Bitcoin and Tether. The CEO of Paxful states that he hopes the addition of the crypto debit card will help to make cryptocurrency more accessible to individuals in Mexico and throughout the world.

"(Paxful) works to offer a safe banking alternative to the Mexican population," Ray Youseff said. Youseff stressed how important it is for partnerships to drive the acceptance of cryptocurrency on a global scale.

Having the participation of Bnext helps to further legitimize the use of crypto at a time when many governments are becoming more open to digital currency. Bnext brings the critical infrastructure needed to launch such a partnership. The bank's participation may encourage those who are new to Bitcoin to get involved with crypto for the very first time.