Bitcoin firm in Kenya registers over 60, 000 New Users in 2020, says Paxful

The largest bitcoin marketplace in Africa, Paxful has registered over sixty thousand new users, a significant rise from the previous year 2019 on the platform in Kenya, according to a report by BitcoinKE.

Paxful at the same time has reportedly said that the company has processed over $40 million in its business in 2020, a comparative hike that from 2019.

As said by the CEO of Paxful, Ray Youssef in a blog post; "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."

With an increase of 31% in 2020, the company is looking to grow its business footprint in the country. Paxful is reportedly looking to extend its business through various initiatives, focusing mainly on building a school in the country under its 'built with bitcoin' initiative hoping to laid down over 100 schools in the continent.

To bring awareness about cryptocurrencies the country has partnered with African music boy band, Sauti Sol, as per the report.