Paxful, Bitsika Deepen Local Payment Methods

November 4, 2020

By Adedapo Adesanya

Paxful, a global peer-to-peer crypto marketplace, has announced the addition of Bitsika to the platform, expanding its range of local payment methods in Nigeria.

The addition enables users to deposit Cedis, Naira, Dollars, CFA through the Bitsika app to facilitate easy transactions.

Speaking on the partnership, CEO and co-founder of Paxful, Mr Ray Youssef said “As an organisation that constantly devises alternatives to ensure seamless and safe transactions for our users, 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. Dollars can be held in a crypto form called BUSD. And with simplified security measures, there is no need to provide full Naira bank details, all that’s needed is a Bitsika tag.”

Bitsika was launched in 2019 to provide faster and easier payments across the globe while curbing the high costs of traditional money operators.

Backing this, Mr Atsu Davoh, CEO of Bitsika said, With Bitsika, stated that “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.”

“Say goodbye to revealing the personal info of your Mobile Money number or Naira bank details every time you do or receive a transfer. And the best part is that all internal transfers are free,” he added.

There is a growing demand for cryptocurrencies as Nigeria becomes one of the fastest-growing markets in the world. To deepen Paxful’s integration in the country’s crypto industry, the company has been recently recognized and accepted as a premium member of the Fintech Association of Nigeria.

The partnership will help Paxful become an important part of the local financial ecosystem and protect its Nigerian users better.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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