Sauti Sol and Paxful get into a partnership to make more Kenyans know about Bitcoins

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paxful
  • 6 months ago
  • Posted: December 21, 2020 at 6:06 pm

A few years ago bitcoins made headlines globally when the cryptocurrency’s price spiked more than a thousand fold, and then it fell almost flat footed. The volatility of the cryptocurrency together with its decentralized nature, its ability to assist illegal markets, and the endless concerns it continues to draw from authorities given its competition with fiat currencies, has enabled it to only become a darling among many, but also influence the creation and adoption of other cryptocurrencies. Heck, even a TV Series namely Startup has been made thanks to its influence.

But in as much as everyone today probably know about Bitcoins and related terminologies such as Blockchain, Cryptocurrency, Mining, and probably have a rough idea of how much 1BTC exchanges for per dollar (1BTC = 23,107.60 USD as of this writing), very few Kenyans if at all actually own or trade in bitcoins.

But the fact that very few Kenyans take bitcoins seriously is about to change thanks to Paxful’s partnership with Sauti Sol. Paxful, being a people-powered marketplace for money transfers with anyone, anywhere, at any time, has made strides in the last few years to champion bitcoins in the East African markets. Just this year, Paxful hired a new local team in Kenya as part of its growth strategy focused on being the crypto marketplace of choice in the country. One of the hired are Yvonne Kagondu, Kenya Community Coordinator, and Juliana Mwangi, Kenya Business Development Associate, who bring 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 is looking forward to harnessing the popularity of Sauti Sol in which Sauti Sol will help bring awareness about bitcoins to their fan base. “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!” said Sauti Sol representative, Colin Gayle.

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.”

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