Paxful bitcoin bourse upbeat about use of cryptos in Africa

[bitcoincash]

According to bitcoin exchange Paxful, African businesses use cryptocurrencies on a rapidly increasing scale and many Africans see them as an opportunity to start a business.

Africa is the “fastest-growing customer base” of the Delaware-based exchange company, Paxful said in a statement, putting its global number of users at nearly three million.

Nigerians, Ghanaians and South Africans have so far been the most active part of its African clientele, many of them running drop-shipping firms, payment services or export-import ventures, the company said.

Deals between Africans make up a large proportion of transactions on Paxful’s platform, and Nigerians, Kenyans, Ghanaians and South Africans among leaders in the company’s intra-African trade, according to Paxful.

“While African entrepreneurs continue to face many lingering challenges, we have seen first-hand on our platform how the opportunity to use technology and innovate can achieve greater financial inclusion as well as socio-economic development and job creation,” said Paxful CEO and co-founder Ray Youseff.

The Paxful statement mentioned that digitisation had been high on the agenda of the World Economic Forum on Africa in Cape Town last month.