Banxa's Partners with AAX to Allow Purchase of Crypto with Fiat and Vice Versa

On-and-off ramp Web3 solution Banxa's new partnership with cryptocurrency exchange AAX now allows customers to purchase crypto with fiat and vice versa.

"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," said Ben Caselin, Head of Research and Strategy with AAX.

AAX was one of the first crypto exchanges to switch to the Satoshi Standard (SATS) to drive bitcoin adoption. 

The SATS was created after heavy demand from the crypto community for an alternative unit. Satoshis or SATS are the smallest units of cryptocurrency bitcoin (BTC), and 1 BTC is equal to 100,000,000 SATS.

Through Banxa, customers can utilize local payment and banking options with less friction, fewer fees, and better fraud protection.

The partnership will also help Banxa customers to benefit from 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. 

Furthermore, customers can use Banxa on AAX with BTC, ETH, SOL, DOT, BNB & 49 other cryptocurrencies and local payment options.

However, currencies available for cashing out of crypto at this time include GBP, AUD, USD, and EUR.