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Primer, the unified infrastructure for global payments and commerce, has announced its strategic partnership with Banxa, a leading crypto infrastructure provider, to break down barriers to crypto adoption.

Banxa dominates the global market share in fiat-to-crypto on and off-ramp solutions, supporting centralised and decentralised exchanges like Trust Wallet, Metamask, and Bitcoin.com to drive participation in the crypto and Web3 ecosystem.

The collaboration with Primer enables Banxa to consolidate payments services to gain unique insights while testing and optimising performance. Leveraging Primer’s infrastructure, Banxa has access to new and backup payment services worldwide, introducing resiliency for recovering failed payments.

The announcement was made at Money20/20 Asia, held this year in Bangkok, Thailand, in the heart of Southeast Asia, a region that has emerged as a global powerhouse in cryptocurrency adoption.

Primer and Banxa to Usher in Crypto Era

According to the 2023 Global Crypto Adoption Index, Southeast Asia has the highest rate of cryptocurrency adoption globally with countries like Singapore, Malaysia, Thailand, Indonesia, the Philippines, and Vietnam experiencing a significant increase in cryptocurrency use and acceptance in recent years.

Banxa’s Head of Payments, Greg Rikkhachai, said of the partnership: “The results have been immediate and overwhelmingly positive, and our customers have taken notice as well. We can see the value this partnership is delivering through higher authorisation rates, a wider choice of payment methods, and the ability to optimise the cost of managing payments. Collaborating with Primer provides us with a comprehensive solution, flexibility for customization, and room for innovation.”

Kailash Madan, Head of Global Sales at Primer, added, “In recent years, Asia Pacific has emerged as a dynamic hub for crypto and Web3 adoption. Banxa’s infrastructure has been a critical enabler of this growth, and we are honored they have chosen to partner with Primer to further enhance accessibility to crypto payments in the region. We’re excited to innovate and contribute to a seamless and hyper-digital commerce landscape together.”

Primer and Banxa will continue to explore collaboration opportunities aimed at transforming global commerce, unlocking the full potential of digital assets to deliver enhanced value for businesses.

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