Paxful is a worldwide peer-to-peer network that enables anyone to make payments, conduct transactions, and transfer money using Bitcoin as a medium of exchange. Paxful was founded in 2015 by Ray Youssef and Artur Schaback with the purpose of ensuring that everyone has equitable access to banking regardless of their identity or location. Paxful is a platform used by over seven million individuals to purchase and sell Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) using approximately 400 different payment methods. The center will offer educational training and activities to increase community knowledge of the advantages of purchasing and selling Bitcoin as a medium of exchange.
Paxful’s objective is to ensure that everyone has equitable access to money regardless of their identity or location. The center will help accelerate the next wave of Bitcoin widespread acceptance by providing tools to link expanding sectors like as small merchants and local enterprises to a global network of users. Paxful co-founder and CEO Ray Youssef said, “It’s a well-known fact that Bitcoin is reshaping the financial landscape in El Salvador and beyond. Education has been a critical driver of worldwide Bitcoin growth, and this new center demonstrates its critical role in the development of an equitable financial system. From tiny merchants to Bitcoin enthusiasts, we’re delighted to learn from you and spread the word about the potential of Bitcoin for financial independence and equality.”
Will Hernandez, Paxful’s Director of LATAM Growth, said, “We experienced a more than 300 percent increase in El Salvador users last year. What we are experiencing in El Salvador is a period of transition. Peer-to-peer platforms are accelerating acceptance in developing economies, and as a people-powered platform, we recognize the critical role of education in accelerating the next wave of adoption. The center will bring education, access, and opportunity to a population hitherto disregarded by conventional banking, while also demonstrating the real-world advantages of Bitcoin in developing economies.”
Yusuf Nessary, the Built With Bitcoin Foundation’s Director of Philanthropy, said, “We’re thrilled to extend our influence by establishing a home for the Built With Bitcoin Foundation in El Salvador. The initiatives we are launching illustrate Bitcoin’s potential as a charitable instrument for promoting change and financial independence. We are appreciative for the chance to provide resources and continue to provide equal possibilities for the innumerable individuals and communities that help us carry out our goal.”
The center’s inauguration comes less than five months after El Salvador became the first nation to legalize Bitcoin as a form of payment. Classes and training will begin on February 3, 2022.