Paxful, the largest P2P crypto marketplace in Africa, has added the Uhuru Wallet as payment method onto its platform.
Uhuru Wallet, which launched in 2020, is a convenient and efficient payment method running on WhatsApp, and anchored on blockchain technology, that enables people to transact easily and intuitively.
Some of its features include:
- P2P transactions
- B2C transactions
- Escrow services
- eCommerce services
- Cash-in and cash-out options
- Bill Avon, INUKA, DSTV, lottery payments
- Airtime purchases
eCommerce, one of the fastest-growing use cases for crypto, is a key feature of Uhuru Wallet.
Customers who buy goods on eCommerce sites powered by Uhuru pay to Uhuru Wallet escrow account. Once the customer has received the goods/service and are satisfied, Uhuru Wallet makes a payment to goods providers. This could be your simple airtime purchase, or an online clothes purchase.
Some of the app’s enablers that help guarantee liquidity and security of funds include:
Uhuru Wallet is a product of BitKesh, a Zimbabwe-based crypto startup that is innovatively enabling foreign nationals in South Africa to send money to Zimbabwe.
Uhuru Wallet is built on the Stellar blockchain and holds an asset-backed digital token pegged to the South-African Rand, the uZAR.
Speaking about the partnership, Ray Youssef, CEO, Paxful, said:
“This is the perfect opportunity to partner with local talent and support the growth of the crypto community in South Africa.
By joining forces with Uhuru, we can unlock more options for our African users, many of whom are held back by restrictions of traditional financial systems, so we’re making crypto more accessible as a real-world payment method.”
~ Ray Youssef, CEO, Paxful
— Uhuruwallet (@uhuruwallet) October 28, 2020
Commenting on the new partnership, Reginald Tsvetu, Co-Founder and Business Development Officer, BitKesh, said:
“We’re thrilled to be able to partner with a leading international marketplace like Paxful. Uhuru is a product for Africans by Africans and we share Paxful’s vision of greater financial inclusion. We look forward to working with them to include more Africans in the global economy.”
~ Reginald Tsvetu, Co-Founder, BitKesh
Currently, there are over 1 million Zimbabweans living and working in South Africa. The new integration will no doubt help many of them easily send money back home via the Uhuru Wallet payment option on Paxful.
RECOMMENDED READING: Paxful Adds BitSika, A Popular West African Cash App, as a Payment Method
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