Nigeria hits $1.5bn in crypto trading

Despite the country’s ban on crypto-currency trading, Nigeria has emerged as the largest market for Paxful, a global peer-to-peer fintech and crypto-currency trading platform, with an impressive volume of $1.5 billion and 1.5 million users.

Apart from Nigeria, the top four countries by volume on Paxful as of April 2021 are China, the United States of America, India, and Kenya, but over $5 billion has been traded with six million users on the platform to date.

Mr. Ray Youssef, CEO and co-founder of Paxful, told reporters that the traditional financial system is failing 99 percent of the world’s population, implying that there is no way out of income inequality for many people around the world.

“With crypto-currencies, we see an alternative, a way to rest the financial system on equality,” Youssef said.

Paxful’s mission is to provide everyone with equal access to finance, regardless of who they are or where they live, so they can control their own money and build the future they want with financial freedom.”