Paxful, the leading global peer-to-peer fintech platform, recently opened PaxNaija, a new cryptocurrency educational centre in Nigeria. The opening event had representation from the public and private sectors, cryptocurrency market players as well as Paxful users. The office currently employs 10 people and has a square footage of 1,78sq meters.
The centre, located in Wuse Central, Abuja, was established to educate, train, and inform Nigerians on the adoption of Bitcoin and cryptocurrency. Paxful’s hope is to inform local communities of the advantages and benefits of cryptocurrency trading.
The opening of PaxNaija comes on the heels of Paxful’s growth in the country, experiencing a 57% year-over-year increase in Bitcoin trading volumes and an 83% year-over-year increase in Nigerian users. The launch also underscores the company’s efforts to enhance the knowledge of cryptocurrency and further drive its adoption.
Ray Youssef, co-founder and CEO of Paxful stated that PaxNaija is a testament to Paxful’s commitment to financially empower Nigerians by educating them on the opportunities of cryptocurrency. Youssef said, “there’s no denying it – Nigeria is leading the way in Bitcoin adoption – but it’s vital that businesses fan that adoption. During our recent trip to Nigeria, we also saw a strong and growing interest among Nigerian Youth around digital currency. The energy of people getting their first Bitcoin at PaxNaija reminded me of the first days at Paxful. We follow energy and this is where mainstream adoption will start and create mass momentum. We’re thrilled to offer PaxNaija as a haven for Bitcoin and cryptocurrency education and opportunity.”
He continues, “as an organization that seeks to transform the lives of many young people, we have created a platform that is safe and easy to use. But beyond that, we owe a service to the industry. It’s our mission to not only teach users on the benefits of Bitcoin but to educate lawmakers on how crypto can be used to support their economy.” This statement is supported by Youssef’s recent call for increased collaboration among Nigerian cryptocurrency players during his visit earlier this year at a Stakeholders Forum, organized by Paxful.”
Artur Schaback, co-founder and COO of Paxful shared this sentiment, stating, “Paxful’s goal is to highlight the real value and untapped potential of cryptocurrency. And to do that, it’s vital for us to be on the ground, working alongside cryptocurrency beginners and enthusiasts. They are our best allies in onboarding the next wave of Bitcoin users.”
The leading global peer-to-peer fintech platform, also disclosed recently that Nigeria is its biggest market with about 1.5 million users in the country.