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Paxful rolls out a Bitcoin education center in El Salvador

on Feb 4, 2022
  • According to Paxful, this establishment aims to offer free and accessible learning opportunities.
  • Paxful’s CEO, Ray Youssef, claims education is vital to the global adoption of BTC.
  • Before this, El Salvador rejected the IMF’s call to stop using BTC as legal tender.

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Paxful, a leading peer-to-peer (P2P) crypto trading platform, has opened an education and training center that focuses on Bitcoin (BTC/USD) in the heart of El Salvador. The firm unveiled this news via a blog post on February 2, noting that the center is dubbed La Casa Del Bitcoin. Reportedly, this center seeks to offer free and accessible learning opportunities around BTC to help boost financial inclusion.

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According to the blog post, this establishment also seeks to foster the next wave of BTC’s mass adoption. On top of this, it aims to offer growing sectors like merchants and local businesses tools to connect with a global community of users.

Commenting on this development, Paxful co-founder and CEO Ray Youssef said,

It’s no secret that Bitcoin is shaping the future of finance in El Salvador and beyond.

He added that education is a key driver of global BTC adoption and that La Casa Del Bitcoin symbolizes its significance in creating an inclusive financial system. Youssef further noted that Paxful is keen on learning from different people in the BTC ecosystem, seeing as this is how it manages to share how BTC offers freedom and equal financial access.

P2P platforms will drive the next wave BTC adoption

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According to Will Hernandez, the Director of LATAM Growth at Paxful, the platform saw 300% growth in El Salvador in 2021. He pointed out that the country is undergoing a transformation, in which P2P platforms are fostering crypto adoption. Explaining why Paxful launched La Casa Del Bitcoin, he said Paxful acknowledges that education is crucial to driving the next wave of adoption.

Hernandez further noted that the education center would offer education, accessibility, and opportunity to a population that traditional finance has ignored. He added that it would demonstrate the real-world benefits of Bitcoin to emerging markets.

Yusuf Nessary, Director of Philanthropy at Built With Bitcoin Foundation, remarked,

We’re excited to build a home for the Built With Bitcoin Foundation in El Salvador and expand our impact. The projects that we are launching demonstrate the power of Bitcoin as a philanthropic tool to aid change and further financial freedom.

He added that the foundation was grateful for getting a chance to deliver resources and continue building equitable opportunities for countless people and opportunities who help its mission come to life.

This news comes after El Salvador rejected the International Monetary Fund’s (IMF) recommendation to drop BTC as legal tender. The country’s Treasury Minister, Alejandro Zelaya, said El Salvador would not take instructions from any international organization, adding that the decision to embrace BTC as legal tender is an issue of sovereignty.

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