Paxful, a peer-to-peer crypto platform, says it is committed to setting up Bitcoin educational centres in key markets where it operates in a bid to address the knowledge gap and strengthen the drive for financial inclusion.
The company had in 2021 launched the PaxNaija Educational Centre in Abuja, Nigeria, to educate, train and inform Nigerians on the adoption of Bitcoin and digital currencies.
According to a statement, financial literacy is a key component of economic growth and development in any country.
It said, “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 per cent of adults are financially literate, while 74 per cent lack the understanding of basic financial concepts.”
Bitcoin can pave the way for a brighter financial future, but developing nations need greater access to resources that highlight its value, according to Paxful.
The company said the educational centres would 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.
The Chief Executive Officer and Co-Founder, Paxful, Ray Youssef, said, “Education continues to be a key driver of global Bitcoin adoption and these new centres represents their 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.”
– Punch