Paxful To Open A Blockchain Incubator In Nigeria

By  |  May 21, 2018

Paxful announced in a press release that it would build a blockchain technology incubation hub in Lagos, Nigeria, as part of its growing investment in Africa. The incubator is likely to come up later in 2018 along with other offerings like a co-working space, mentorship, blockchain training, and networking for ICO advisors.

“Paxful is committed to fostering economic growth in Africa and helping the unbanked and underbanked gain access to the opportunities they have been denied for so long,” said Paxful CEO Ray Youssef. “The incubator is simply a starting point to help driven entrepreneurs in an industry that has shattered boundaries all over the world.”

On being appointed as the Regional Director of Africa, for the incubator, Chuta Chimezie said, “It is a privilege to work with an organization that believes in investing in countries with great potential such as Nigeria. Paxful’s initiatives have not only helped those in great need here but are also helping African entrepreneurs achieve their full potential. Paxful is using Bitcoin to do good in the world, and I am proud to become an integral part of that.”

Chimezie, who will be responsible for the operations of the incubator is a blockchain and cryptocurrency advocate. He is the founder of  Blockchain Nigeria User Group, and author of ‘Seizing Opportunities in Blockchain and Digital Currency Revolution’.

Paxful, which is an open source peer-to-peer marketplace for bitcoin and blockchain technology, enables users to buy, sell and accept bitcoin instantly. The platform claims to have  1.7 million monthly active users globally, with 300+ payment methods. Some of the most popular ways include Bank Transfer, Paypal, Western Union, Amazon Gift Cards, and iTunes Gift Cards. Its wallet is touted to function as a universal translator for money as any form of money can become any other form of money.

Cross-Border Money Transfer In Africa: Is Bitcoin The Golden Silver Bullet?

 image

As per the release, Paxful will sponsor several blockchain and crypto-focused events in Nigeria and plans to sponsor and speak at others in Ghana, Cameroon, and Kenya.

 

 

Journalism is broken in Africa


Help us build a narrative on African Business, Startups, Tech and Economy
Join us today to empower great story telling, one story at a time

Monthly Membership

$10

(billed monthly)

Access To 1 Month WT Membership

Access To Premium Newsletters For 1 Month

1 Month Access To WT's Content Archive

Access To WT's Conferences & Events

Access To All WT's Research Reports On Africa

Access To Podcasts, Video Content & Recordings

Subscribe Now
Popular

Annual Membership

$60

(billed annually)

Access To 12-Month WT Membership

Access To WT's Conferences & Events

Access To All WT's Research Reports On Africa

Access To Podcasts, Video Content & Recordings

Access To All Premium Newsletters

Unlimited Access To WT's Content Archive

Subscribe Now

If you are a Corporate or a Student, please reach out to us for subscription at [email protected]