NEW YORK, June 4, 2021 / PRNewswire / – Paxful, the leading global peer-to-peer fintech platform, today announced it will join the founders’ circle, a philanthropic group within the donation block. Through this agreement, Paxful commits to donate 1% of its annual profits to charities through the Giving Block. In addition, the CEO and co-founder of Paxful Ray youssef will join the Founder’s Circle as an individual contributor, donating at least 1% of its average annual Bitcoin holdings.
The Giving Block offers cryptocurrency donation solutions for charities, including universities and faith-based organizations. Paxful is already a proud donor on the platform and is excited to take this next step now through the Founder’s Circle.
Paxful will donate the majority of its donations to the Foundation Built with Bitcoin, a humanitarian organization dedicated to creating equitable opportunities by providing clean water, access to quality education, sustainable agriculture and humanitarian support, all fueled by cryptocurrencies. Directed by Yusuf Nessary, the Foundation’s goal is to build 100 communities and improve the physical, mental, environmental and financial health of those in need. Yusuf discovered Bitcoin through the CEO of Paxful, Ray youssef, and together they launched the Built With Bitcoin Foundation.
Paxful has already made healthy donations to the Built With Bitcoin Foundation this year, helping to build and open a school in Nigeria and a technological center in Rwanda in spring. Paxful funds will go towards the company’s annual commitment to the Founder’s Circle.
Ray youssef, CEO and Co-Founder of Paxful, said: “I am incredibly proud that Paxful is joining the ranks of Founder’s Circle. Unlocking the power of cryptocurrency in philanthropy could have a huge impact – shaping the way we view digital assets like Bitcoin and bringing more transparency and efficiency to the process. At Paxful, we’re committed to creating wealth for those who need it most, and that underscores our dedication.
Founded in 2015 and fully grown since then, Paxful is headquartered in new York with offices in Estonia, The Philippines and Russia. The team has doubled in size over the past 12 months, growing to over 400 people.
Paxful is a peer-to-peer funding platform for users to make payments, transactions, and send money by buying and selling cryptocurrency as a medium of exchange. Founded in 2015 by Ray youssef and Artur schaback, Paxful’s mission is to help everyone have equal access to funding, no matter who or where they are. Six million people use Paxful to buy and sell Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) with nearly 400 different payment methods.
Ray youssef, co-founder and CEO of Paxful, set up the Built with the Bitcoin Foundation to give people access to education and water. To date, the foundation has built four schools (two in Rwanda, one in Kenya, and one in Nigeria), several water projects and dozens of cultivated farms. He is in the process of building new schools in both Nigeria and Kenya. The Built with Bitcoin Foundation is funded by Paxful and the cryptocurrency community.
Kristina bannan, Associate Director, Public Relations, Paxful
The Foundation Built with Bitcoin
The Built With Bitcoin foundation in Nigeria in April 2021