Paxful Boosts Financial Literacy with Educational Centre

Paxful, a global peer-to-peer fintech platform, says it has opened a new cryptocurrency educational centre in Nigeria, called ‘PaxNaija’, to boost financial literacy.

The company said in a statement that the centre, located in Wuse Central, Abuja, was established to educate, train, and inform Nigerians on the adoption of bitcoin.

It said it hoped to inform local communities of the advantages and benefits of cryptocurrency trading.

The statement said, ‘The opening of PaxNaija comes on the heels of Paxful’s growth in the country, experiencing a 57 per cent year-over-year increase in bitcoin trading volumes and an 83 per cent year-over-year increase in Nigerian users.”

It said the launch also underscored the firm’s efforts to enhance the knowledge of cryptocurrency and further drive its adoption.

Ray Youssef, Co-founder and Chief Executive Officer, Paxful, described PaxNaija as 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 is 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.”

Artur Schaback, Co-founder and Chief Operating Officer, Paxful, said, “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 fintech platform recently described Nigeria as its biggest market with about 1.5 million users in the country.