Paxful, a global peer-to-peer bitcoin technology company, announced on Thursday it is set to build a blockchain technology incubation hub in Lagos, Nigeria, as part of its growing investment in Africa. The company reported that it has appointed Chuta Chimezie as Regional Director of Africa. He will be responsible for conducting business operations, facilitating local and international brand awareness, creating educational content on behalf of Paxful, recruiting and overseeing the incubator’s day-to-day operations. Speaking about the new hub, Paxful CEO, Ray Youssef, stated:
“Paxful is committed to fostering economic growth in Africa and helping the unbanked and underbanked gain access to the opportunities they have been denied for so long. The incubator is simply a starting point to help driven entrepreneurs in an industry that has shattered boundaries all over the world.”
Chimezie then commented:
“It is a privilege to work with an organization that believes in investing in countries with great potential such as Nigeria. Paxful’s initiatives have not only helped those in great need here, but are also helping African entrepreneurs achieve their full potential. Paxful is using Bitcoin to do good in the world, and I am proud to become an integral part of that.”
Founded in 2015, Paxful’s mission is to give customers a simple, fair, and secure platform for trading. It has built a global peer-to-peer payment logistics platform and describes itself as an online wallet and universal translator for money. Paxful added that the hub will launch in Fall 2018 and provide a co-working space and services including mentorship, corporate and individual blockchain training, and networking for ICO advisors.