Paxful which is a peer-to-peer crypto marketplace has just expanded its charitable program in Africa as well. It has been announced by the platform on May 04 that the firm is launching ‘Africa Fund’ in order to expand its charity initiative in Africa.
In this fund, the donations will be done through Bitcoin. This initiative is to provide the people essential resources for their daily needs in order to combat the COVID-19 crisis.
Paxful to start the fund with $15,000
As per the announcement made by Paxful, Africa has been badly hit by this virus and the cases are increasing rapidly. Through the fundraising, Paxful is aiming to acquire all the food packages and proper Personal Protective Equipment (PPE). It will also provide groceries and sanitization tools to all those who are at a high-risk.
It has also been specified that Paxful will start the fund with $15,000 and will invite all other donations in BTC. Ray Youseff, CEO of Paxful has said that this #BuiltWithBitcoin fund will be there to provide help to all those who are fighting to deal with the virus in Africa. Along with this, it will also promote the crypto industry especially Bitcoin as it has acted as a positive force amid this crisis.
Cryptocurrency emerging as a reliable alternative
Amid this coronavirus crisis, cryptocurrency has emerged as a reliable alternative among all. A lot of charity initiatives have been carried forward amid this crisis. The CEO of Paxful has said that not only Africa, but it will also be expanding its services across other regions also.
Earlier in the previous month, it has been seen that the Italian Red Cross has reached its goal of $10,000 within four weeks. Through this funding, it has built up many medical posts for COVID-19 across the country. The whole crypto community across the world is coming together during this time of crisis.
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