Popular peer to peer Bitcoin marketplace and universal money translator; Paxful, has entered into a partnership with East Africa’s biggest Afro-pop band; Sauti Sol. The company made it known that its partnership with the award-winning band, is part of its efforts aimed at creating more awareness in East Africa about its company and about the Cryptocurrency industry as a whole.
The news is coming after Paxful achieved 60,000 new users in Kenya, which is a significant increase from what it attained in 2019. It will also be increasing its presence in Kenya by hiring and setting up a team on ground in the country.
The partnership between Paxful and Sauti Sol will see the company be featured in Sauti Sol’s soon to be released video for their song; My Everything featuring the multiple Grammy award winning American singer and songwriter; India Arie, off the group’s 5th studio album; Midnight Train.
In addition to a number of other engaging campaign contents, a fireside chat will also be setup between Sauti Sol and the Chief Executive Officer (CEO) of Paxful; Ray Youssef. All of this geared towards boosting Paxful’s brand awareness all over the country, improving awareness and education regarding Bitcoin, alongside plans surrounding the #BuiltWithBitcoin social good initiative.
A representative of Sauti Sol; Colin Gayle stated that, “Sauti Sol is excited to partner with such an innovative company as Paxful. They have been breaking the crypto ground in Kenya and with Sauti Sol on-board, we are hoping to show more Kenyans the wonders of Bitcoin and take crypto adoption in the country to the next level. Crypto is a new industry that has so much to offer and we cannot wait to embark on this journey together with Paxful!”
The Paxful team in Kenya includes Juliana Mwangi who is the Kenya Business Development Associate, and Yvonne Kagondu who is the Kenya Community Coordinator. They both come in with an immense wealth of experience in Sales, Customer Relations, Commercial Strategies and Business Strategies that will help Paxful reach its next stage of growth and goal of becoming the Number One cryptocurrency marketplace destination for individuals in Kenya and East Africa as a whole.
The company is also looking to further facilitate the financial inclusion of the underbanked and the unbanked as well.
According to Paxful, the East African nation of Kenya, is one of the most successful cryptocurrency markets in Africa. Paxful says that it processed more than 40 million dollars (4.34 billion Kenyan Shillings) in trade volume from Kenya in 2020 alone. This signifies a steady increase in the growth of Kenya’s trade volume for cryptocurrency in the last six (6) months even with the still ongoing Coronavirus pandemic that first hit Kenya in March 2020.
The co-founder and Chief Executive Officer (CEO) of Paxful; Ray Youssef 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.”
Although its peer to peer cryptocurrency marketplace has undergone some tremendous success in Kenya, Paxful is not looking to relax or slowdown at all. The company is looking to spend a lot more time in Kenya over the next couple of years and says it setting up a team on ground in the country, is just a glimpse into the various strategies that it intends to implement in Kenya.
Paxful has provided handwashing stations in Kibera, and is currently constructing a school in Machakos County. All that is part of its #BuiltWithBitcoin social good initiative, and is proof of its dedication to Kenya and the East African region as a whole.
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