Facebook Twitter Instagram
    Facebook Twitter Instagram
    Business Times
    Button
    Business Times
    Home»Corporate»Paxful Announces Strategic Partnership with BitLipa
    Corporate

    Paxful Announces Strategic Partnership with BitLipa

    ParmenasBy ParmenasDecember 11, 2020Updated:December 11, 2020No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Nairobi, Kenya, December 10, 2020 – Global peer-to-peer (P2P) Crypto marketplace, Paxful, has joined forces with BitLipa, a Kenyan borderless peer-to-peer remittance network, expanding their variety of over 300 payment methods on the platform. Paxful and BitLipa work towards the common goal of financial inclusivity and bringing hands-on financial solutions to the people.

    Acting as a fiat on-ramp to the Paxful platform, BitLipa users can now buy and sell Bitcoin (BTC) and Tether (USDT) with direct deposits from the BitLipa app. The collaboration also gives users a secure and speedy transaction infrastructure thus providing faster and easier payments across Africa and abroad, while curbing the high costs of traditional money operators. Both companies pride themselves in a secure and efficient tech stack, timely dispute settlement, and 24-7 customer support. 

    Ray Youssef, CEO, and co-founder of Paxful said: “We are proud to partner with BitLipa as we share the same vision and passion for the crypto economy in Africa. 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.”

    Currently, BitLipa is spearheading expansion plans to scale up in Kenya, Uganda, Tanzania, Rwanda, and Ghana. The peer-to-peer remittance network aims to integrate all of Africa and Middle East mobile money networks by mid next year.

    Apollo Omer, CEO, and co-founder of BitLipa said: “Through the partnership, we are focused on reaching an estimated 60% of the African population that is unbanked, and equipping them with the right financial tools. I see Bitcoin as a medium of exchange and a sound investment asset, and 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.”

    Currently,  the majority of Kenyans use Bitlipa as the primary access to Bitcoin, which they then sell on Paxful at a higher margin. At present, 45 percent of the active users of Paxful are from Africa, demonstrating the platform’s success on the continent. In Kenya, Paxful trade volumes are significantly higher than usual, reaching over 108 million KES in trading volume in November 2020, highlighting the appetite for crypto in the country; Kenya’s crypto space is approaching new heights. 

    Share this:

    • Tweet
    • WhatsApp
    • Telegram
    • More

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Parmenas
    • Website
    • Facebook
    • Twitter

    Not everyone is good at web content creation and some people would rather toss a match on the whole thing and walk away. Parmenas LOVES working with words to create the most impact on the ideal customers. You know, the people who will turn into loyal customers for as long as your business is up and running. Here's how he can solve your predicament: He will create and publish content on your site that your readers will want to read...but not the same rehashed stuff that all of your competitors have already bludgeoned to death. Improve the effectiveness of your website so that it becomes your best salesperson on the floor for you 24 hours a day WITHOUT calling in sick or needing employee benefits/wages/training.

    Related Posts

    Safaricom Partners With vivo Smartphone To List New 4G Devices in Kenya

    May 12, 2022

    Safaricom Confirms Commercial Launch In Ethiopia As Revenue Hits Ksh281 Billion

    May 12, 2022

    Zoho Unifies Marketing Operations With Zoho Marketing Plus

    May 10, 2022

    Leave A Reply Cancel Reply

    Ad
    Here’s The Latest
    • How To Establish A Connection With Your Domestic Worker
    • New-style Traveller Centres Launch In Naivasha, With First Regional Electric Vehicle Charging
    • Naivas Opens Its 84th Branch In Kayole, Naivasha
    • Superior Homes Launches Reward Program For Investors
    • ESG set to drive Real Estate Sector Forward – EAPI Summit
    Buy the Latest POS Software
    • ConnectionHow To Establish A Connection With Your Domestic Worker
    • Naivasha Safari CentreNew-style Traveller Centres Launch In Naivasha, With First Regional Electric Vehicle Charging
    • Naivas SupermarketNaivas Opens Its 84th Branch In Kayole, Naivasha
    • Superior HomesSuperior Homes Launches Reward Program For Investors
    • Absa ESGESG set to drive Real Estate Sector Forward – EAPI Summit
    • AbsaAbsa Bank Kenya earns Global Recognition
    • DStvEnhancing Business in Pubs with Variety Sports
    • (no title) Post 7460
    • Mount Kenya University (MKU) Pro-Chancellor Dr Vincent Gaitho.MKU Pro-chancelor Pleads For Peace During Polls
    • Felix Tshisekedi President of the Democratic Republic of Congo (right) receives a memento from Prof. Isaac Macharia, Equity Group Board Chairman (left) and Dr. James Mwangi Equity Group Managing Director and CEO (center).Opportunities To Explore In The Vast DRC Market
    • Y15s SafaricomSafaricom Partners With vivo Smartphone To List New 4G Devices in Kenya
    • Safaricom CEO Peter NdegwaSafaricom Confirms Commercial Launch In Ethiopia As Revenue Hits Ksh281 Billion
    • PrudentialPrudential Kenya Signs Ksh10 Million Partnership To Provide Free Education To Disadvantaged Students
    • ZohoZoho Unifies Marketing Operations With Zoho Marketing Plus
    • Cold Season5 Tips To Help You Prepare For The Cold Season
    • Banking FraudBankers, Payments Firms And Retailers In Drive To Reduce Consumer Exposure To Fraud
    • Congratulations! Deputy President William Ruto Secures His First Win in Nairobi
    • dstv kenya self serviceDStv’s New Package Offers Lifeline To Hotel Industry
    • The promotion targeted Kenyans living and working in the USA. PHOTO| Justus KisavaAMG Realtors Unveils Winner Of Five-acre Piece Of Land In Bamba Shamba Promotion
    • Paul Icharia Kepfic Vice chairmanUS Pension Schemes Direct Over Ksh58 Billion to Africa
    Facebook Twitter Instagram Pinterest
    © 2022 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.