Paxful says it is making international payments more accessible and more affordable for Nigerians using modern DeFi technology
Leading peer-to-peer bitcoin marketplace, Paxful, has said it is making international payments more accessible and more affordable for Nigerians using modern DeFi technology.
Last weekend, at the fully virtual BLOCKDeFi-2020 conference, CPO and co-founder of Paxful Artur Schaback said, “We are helping people to make all kinds of payments, especially international transfers, with ease. Due to Naira’s devaluation at the beginning of August 2020, business operations in Nigeria with the rest of the world have been compromised.
What did Paxful say
Our peer-to-peer marketplace offers various solutions to help with a weak currency. With over 300 payment methods, anyone can take advantage of crypto payments. For instance, using gift cards or mobile top-ups helps to speed up international transfers. You won’t have to waste hours. Besides that, currencies around the world may be regulated by capital controls. When you can’t send dollars abroad, bitcoin comes to your aid.”
Paxful aims to educate people about the opportunities that Crypto presents in terms of wealth preservation and growth, with faster, safer, and more affordable transactions. According to Schaback, “Our goal with DeFi is to show people how we can help them save money, and make it cheaper for them to borrow.” Taking a look at market trends and opportunities, he pointed out that, “Two years ago was the ICO boom, but now DeFi is the next big thing.”
What distinguishes Paxful from other marketplaces is a large user base that allows for liquidity enabling the best prices to buy or sell bitcoin or tether with any payment method. “We have an easy-to-use Paxful mobile app, we are building Pay with Paxful for merchants, and our Peer program is a massive success in Africa,” he added.
Schaback highlights Paxful’s social impact in Africa as the company strives to improve lives for the unbanked and underbanked by offering access to reliable financial services. Paxful’s #builtwithbitcoin initiative has a goal of building 100 sustainable schools across emerging markets. With three schools already completed in Rwanda and Kenya, Paxful is taking off with their fourth school in Nigeria, marking their first charitable move in the country.
Artur’s presentation at the conference revolved around the two topics: “The future of Defi in the Emerging World” and “How Paxful is leading the charge in Africa.”