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Paxful Signs New Deal To Support Nigerian Crypto Developers

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The largest P2P crypto platform in Africa, Paxful has shown its intention to support crypto innovations in Africa. According to a report by Bitcoinke.com, Paxful struck a new partnership with Human Rights Foundation, aimed at supporting and grooming Nigerian crypto and blockchain developers. 

Per the report, Paxful also donated an undisclosed sum to the foundation including Qala Fellowship, a program dedicated to discovering and nurturing local talents in Nigeria, with more focus on the blockchain and crypto sector.

Qala Fellowship also aims to help tech-inclined Nigerians build companies, contribute to the blockchain ecosystem and lastly, discover job opportunities in global blockchain firms. 

Participants of the fellowships are required to undergo a 6-month intensive course. They are provided with resources to aid their developer journey. A section of the program also provides for internships and full-time roles. 

Developers with long-standing experience are also invited in the course of the 6-month program to encourage young developers, provide them with insights on how they can improve their skills and contribute to projects, especially at hackathons. 

Highlighting the importance of the program, Paxful’s CEO, Ray Youssef stated that his firm would help the Nigerian youth make a significant impact on the global economy with Bitcoin. Youssef admitted that young Nigerians have entrepreneurship engraved in their DNA, however, they have yet been allowed to prove themselves on a global scale.  Thus, Qala Fellowship is a golden opportunity for them.

Both Human Rights Foundation and Paxful have acknowledged the wide chasm between Africa’s crypto adoption rate and the talent of young developers who are desperate to build scaling solutions across the region. In light of this, the fellowship will be bridging the gap. 

Bernard Parah, Program Lead at Qala Fellowship, believes Bitcoin holds more benefits than just price speculations and Qala is intent on exploring these benefits. Parah also doubles as CEO of Bitnob, a Lagos-based crypto exchange and application.

Paxful has shown commitment toward spearheading crypto adoption in Africa since its creation in 2015. A recent report by Chainalysis revealed that Paxful contributed to the 1200% growth in Africa’s crypto transaction volume alongside other P2P exchanges like LocalBitcoins. 

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Data Scientist, Tech Enthusiast and a Crypto Lover