Paxful Launches COVID-19 Relief Fund

Paxful, a peer-to-peer Bitcoin exchange with over 300 payment methods, is helping out against COVID-19 by launching a COVID Relief Fund.

This is a fund set up specifically for Africa, and follows the exchange’s #BuiltWithBitcoin charity initiative, a press release from the group notes.

That overarching goal is for the platform to build 100 schools, wells, and gardens funded entirely by Bitcoin. This Africa fund, however, is an extension made necessary due to the coronavirus spread.

Now, Paxful will contribute to food packs, Personal Protective Equipment, and more, alongside bringing groceries and handwashing stations to those affected by COVID.

Others are joining this fund, of course, but Paxful will start it off with a $15K donation.

An excerpt from the release:

“With this initial injection of funds, they will focus on the biggest issues facing Africa right now which include access to food, water, and medical supplies. Paxful will provide 8,400 meals across South Africa facilitated by GROW Educare Centres and 6,100 masks for frontline workers in the Kibera slums of Kenya by SHOFCO.”

Speaking on the matter is Ray Youssef, the CEO and Co-Founder of the exchange:

“Paxful was the first to really look at Africa and see the opportunity to make a difference through bitcoin. The Africa Fund is just the latest in what will be an ongoing effort to provide relief and serve these resilient communities we grew within their time of need.”

Paxful was recently in the news for offering gold transactions.

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