Paxful processed Ksh.4.4 Billion on the Kenyan Crypto market in 2020 and has partnered with Sauti Sol to create more awareness

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Global peer-to-peer (P2P) Bitcoin marketplace, Paxful, has partnered with Sauti Sol, in a bid to create more awareness around Paxful and the crypto industry in East Africa. The agreement will see the company be featured in Sauti Sol’s upcoming video for their song ‘My Everything’ with multi-grammy award winner India Arie, from their latest album Midnight Train. Through this, and other campaign contents such as a fireside chat with Paxful’s CEO; Sauti Sol and Paxful seek to further increase their nationwide brand awareness, education on bitcoin, and activities around the #BuiltWithBitcoin social good initiative.

“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!” says Sauti Sol representative, Colin Gayle.

To celebrate the collaboration, Sauti Sol will be tuning in with Paxful CEO Ray Youssef to discuss all things crypto and show you the true potential of Bitcoin and Paxful. Join them on the 23rd of December at 8pm Kenyan time live on Facebook or Twitter.

The partnership with Sauti Sol comes in the wake of Paxful hiring a new local team in Kenya as part of its growth strategy focused on being the crypto marketplace of choice in the country. Yvonne Kagondu, Kenya? Community Coordinator, and Juliana Mwangi, Kenya Business Development Associate, brings a wealth of experience in customer relations, sales, commercial and business strategies aiming to help the company reach the next phase of growth. The company’s vision is driven by facilitating financial inclusion of the unbanked and underbanked. 

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Paxful marks Kenya as one of the most successful crypto markets in Africa, reporting that the company processed over $40 million (over Ksh.4.4 Billion) in trade volume in the country in 2020; a steady increase in trade volume growth in the last six months despite the onset of COVID-19 in Kenya in March 2020. 

Ray Youssef, CEO, and co-founder of Paxful 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.”

Paxful also registered over 60,000 new users in Kenya in 2020, a significant increase from last year. While the peer-to-peer marketplace has enjoyed tremendous success in Kenya, the company is not entirely complacent. Paxful’s leaders intend to spend a lot more time in Kenya over the next few years. The new local team is just a glimpse of some of the strategies that Paxful has in store as part of its growth. 

As part of its #BuiltWithBitcoin social good initiative, the company is building a school in Machakos County and provided handwashing stations in Kibera, highlighting its dedication to the region.

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