Paxful, Africa’s largest P2P bitcoin marketplace, has said that it registered over 60, 000 new users on its platform in Kenya, a significant increase from 2019.
At the same time, the company said it processed over $40 million in trade volumes in the country in 2020 which was also a steady increase from the previous year.
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In a blog post, Ray Youssef, CEO, Paxful, said:
“We have been resilient despite tough operating conditions as COVID-19 has dealt a huge blow to many people in Kenya and across the globe.
Paxful is committed to reaching as many people as possible to help them better understand the opportunities presented by the crypto-economy. With this in mind, we have a new team in Kenya that will continue to learn from our Kenyan users and provide them with the best education and support.”
– CEO, Paxful
The company, which recently said its global volume had increased by nearly 31% in 2020, hopes to grow its footprint further in Kenya with various initiatives, most notably, building a school in Kenya under its #BuiltWithBitcoin initiative that seeks to build over 100 schools on the African continent.
The company has also partnered with Sauti Sol – a popular African music boy band – to bring more awareness about cryptocurrencies in the country.
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RECOMMENDED READING: We have Processed a Total of $280 Million in Africa so far on Binance P2P Since March 2020, says Binance
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