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Paxful Records Over 6 Million Users

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Jenna Delport
Jenna Delport
I’m a tech writer, world traveller, avocado-eater and dog lover, not always in that order.

Paxful now has more than six million users across its peer-to-peer payments platform. The fintech allows users to buy and sell cryptocurrencies, make payments and send money.

“Our mission at Paxful is to give everyone equal access to finance, no matter who they are or where they are, so they can control their own money and build the future they want with financial freedom,” says Ray Youssef, CEO of Paxful.

“The financial system is failing 99% of the world’s population; it’s disconnected and out of date. This means there’s no way out of income inequality for a lot of people in the world. With crypto-currencies, we see an alternative way to create a financial system based on equality. Hitting the $5 billion volume mark shows us we are making a difference and we’re just getting started.”

Paxful and Uhuru Wallet Join Forces to Ease Money Transfers

Paxful has partnered with Uhuru Wallet to add a new payment method to its platform. This collaboration is expected to give South Africans access to the crypto economy, making it easier to make money transfers. 

The cost of financial transactions in Sub-Saharan Africa can be sky-high. Fortunately, the global crypto-currency space is providing African users with a cheaper alternative for personal and business-related transactions across borders. 

Acting as a ‘fiat on and off-ramp’ on the Paxful platform, which already hosts over 300 different payment options, Uhuru Wallet will enable users to buy and sell Bitcoin (BTC) and Tether (USDT).

“This is the perfect opportunity to partner with local talent and support the growth of the crypto community in South Africa,” continues Youseff. 

“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.”

Edited by Jenna Delport
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