TechInAfrica – By partnering with Uhuru Wallet, Paxful adds a new payment method to its platform. Through this partnership, it is expected that South Africans will have access to the crypto economy, to make the experience easier money transfers.
The global crypto-currency comes to provide the African users the inexpensive alternative to make their personal and business transactions across the border. This occurs since the transaction fee in Sub-Saharan Africa can be sky-high.
According to Ray Youssef, CEO, and co-founder of Paxful, many Africans living outside the country face problems to send money or payment. It happens as modern money transfer operators are often expensive and time-consuming. Hence, Paxful now presents a practical and cost-effective process for its customers that offer global financial passports to them. A free market for money transfers is required to create true financial inclusion.
Acting as a ‘fiat on and off-ramp’ on the Paxful platform, which already hosts over 300 different payment options, Uhuru Wallet will enable users to buy and sell Bitcoin (BTC) and Tether (USDT).
Youseff added that the partnership is a big opportunity for them to work together with local talent and support the growth of the crypto community in South Africa.
Paxful can provide more solutions for African users by partnering with Uhuru. Paxful makes the cry crypto more accessible as a real-world payment method since there many people who are held back by restrictions of traditional financial systems.