We recently covered how Paxful partnered with fintech startup Uhuru Wallet to include the new payment method onto its platform. In new developments, Paxful, just added Bit Sika, a digital currency platform operating in Ghana and Nigeria. The new partnership will expand the diversity of local payments in Nigeria. users can deposit cedis, dollars, Naira, and CFA through their platform to facilitate easy transactions.
Ray Youssef, the co-founder and CEO of Paxful spoke on a partnership saying, “we’re excited to add Bitsika as a payment option to the platform. With this partnership, users don’t have to worry about the restrictions on the US dollars imposed by African banks.“
Bitsika was launched in 2019 in an attempt to facilitate fast and easier payments worldwide while checking on the costs of traditional money operators.
Atsu Davoh, the CEO of BitSika said, “With Bitsika you can load up money in a particular currency (say Cedis, Naira, USD, etc). Once done, you can now anonymously and instantly send the money to anyone who has a Bitsika cashtag, without fail.“
Nigeria is one of the fastest-growing crypto markets on the planet. In December 2018, Bit Sika received investment from Microtraction. In a blog post share, Microtraction explained their decision to invest in Bit Sika.