Milestone: Paxful Hits $5 Billion & Has More Than More Than Six Million Users

 

 

Paxful, a leading peer-to-peer (P2P) Bitcoin (BTC) marketplace, announced on Tuesday its platform now has more than $5 billion has been traded to date on its platform and that it now has over six million users.

Founded in 2015, Paxful describes itself as a leading peer-to-peer powered cryptocurrency marketplace and a universal money translator. The company’s mission is social justice through financial freedom worldwide.

“By offering a platform with over 300 financial networks that empower both merchants and buyers alike, we have created opportunities for millions across the globe who don’t have access to traditional banking services.”

Speaking about the milestone, Ray Youssef, CEO at Paxful, stated:

“Our mission at Paxful is to give everyone equal access to finance no matter who they are or where they are so they can control their own money and build the future they want with financial freedom. The financial system is failing 99% of the world’s population; it’s disconnected and out of date. This means there’s no way out of income inequality for a lot of people in the world. With cryptocurrencies, we see an alternative: a way to create a financial system based on equality. Hitting the $5 billion volume mark shows us that we are making a difference and we’re just getting started.”

Paxful also reported that has seen over 15% growth on average monthly volume compared to 2020 and expects this to continue and increase as the year continues. As of April 2021, the top 5 countries by volume on Paxful are NigeriaChina, the U.S., India, and Kenya.

The milestones come just a couple of weeks after a recent post on Raidforums, a marketplace for purchasing and selling stolen data, claimed that it has the personal details from millions of users on Paxful, However, Paxful‘s management stated that the claims are false because all of the platform’s users’ private information has not been leaked and user funds are safe as well.  Youssef addressed these issues as well.

“1 btc for millions of users? We get this leak spam all the time. Always fake. No user data leaked. However still confirming if some employee data was leaked from 3rd party payroll site. Stay tuned. All identities safu!”

 

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