Paxful, a leading peer-to-peer (P2P) cryptocurrency marketplace is going to allow Kenyan users to trade digital currencies. As reported by Africa Business Communities on the 10th of December, Paxful has formed a strategic partnership with the Kenyan borderless peer-to-peer remittance network BitLipa. This strategic partnership will let Kenyan users access the trading of two famous digital assets on the trading marketplace of the Paxful exchange.
Kenyans can buy and sell Bitcoin (BTC) and Tether (USDT)
As per the report, the Paxful crypto exchange will let users in Kenya to buy or sell two very famous digital currencies. These are Bitcoin (BTC), the world’s largest cryptocurrency in terms of market cap and Tether (USDT), the largest stablecoin in the world. Users of BitLipa will also be able to access the trading of these two digital coins. They can make deposits directly from the BitLipa app. Moreover, the app of BitLipa will act as a “fiat currency on-ramp” to the platform of the Paxful exchange.
Users will be able to enjoy a secure and speedy transaction infrastructure through this collaboration. Both of these companies aim to provide easier and faster payments all across Africa.
Also read:Currently, the cryptocurrency service is available in Kenya. However, it is expected to be expanded across other regions as well. Nairobi-based remittance network BitLipa aims at expanding its footprints all across Africa and the Middle East by the mid of year 2021. Commenting on this, the Co-Founder and Chief Executive Officer (CEO) said that currently estimated 60 percent of the population of Africa is unbanked and their main focus is to reach this unbanked population.
Adding more to it, he said that he views the leading digital currency Bitcoin as a good investment asset and a better medium of exchange. “This partnership gives mobile money users across Africa access to the greatest financial revolution of our time. We’re thrilled to have Paxful onboard with us in providing more fiat-to-crypto options to our users,” he added.
The Co-Founder and Chief Executive Officer of Paxful Ray Youssef also said that they are feeling proud to join forces with BitLipa. He said, “we hope to open new opportunities for our users, especially during the COVID-19 pandemic, when financial confidence is most needed. We will continue to make crypto more accessible as a real-world payment method.”
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