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Paxful is opening new financial education centers to promote financial literacy.
Financial literacy is a key component of economic growth and development in any country. While emerging markets are leading in Bitcoin adoption, there is still a wide knowledge gap on the opportunities Bitcoin can offer for financial freedom. According to S&P’s Global Financial Literacy Survey, African countries score low in terms of financial literacy compared to the rest of the world. Narrowing in on Nigeria, the survey shows that only 26% of adults are financially literate, while 74% lack the understanding of basic financial concepts.
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At its core, financial inclusion begins and ends with education. Bitcoin can pave the way for a brighter financial future, but developing nations need greater access to resources that highlight its value.
For leading global peer-to-peer platform Paxful, financial education is at the forefront of their mission. To address the knowledge gap and strengthen the drive for financial inclusion, Paxful has committed to setting up Bitcoin Educational Centers in key markets where it operates. In 2021, the company launched the PaxNaija Educational Center in Nigeria at Wuse Central, Abuja to educate, train and inform Nigerians on the adoption of Bitcoin and digital currencies.
Four months later, the P2P platform launches another educational center, “La Casa Del Bitcoin” – this time in the heart of El Salvador. The center will provide free educational training and events to grow awareness around the benefits of buying and selling Bitcoin as a means of exchange, while contributing to efforts to boost financial inclusion in the region. La Casa Del Bitcoin will also be home to the Built With Bitcoin Foundation offices, a not-for-profit dedicated to creating equitable opportunity by providing clean water, access to quality education, sustainable farming, and humanitarian support – all powered by Bitcoin and cryptocurrencies.
According to Ray Youssef, CEO, and co-founder of Paxful, “Bitcoin is shaping the future of finance in El Salvador and beyond. Education continues to be a key driver of global Bitcoin adoption and this new center represents its importance to the creation of an inclusive financial system. We’re excited to learn from the people and share the power of Bitcoin for freedom and equal financial access.”
