Ray Youssef, chief executive officer and co-founder of Paxful, speaks during the Bitcoin 2021 conference in Miami, Florida, U.S., on Saturday, June 5, 2021
Eva Marie Uzcategui—Bloomberg/Getty Images
March 30, 2022 6:26 AM EDT

Cryptocurrencies like Bitcoin, advocates argue, make it easier for people in emerging economies to buy, spend, and move money, even without access to traditional financial infrastructure. Paxful, a peer-to-peer cryptocurrency-­exchange platform with more than 9 million users globally, is helping make that possible. Users can freely transact in crypto with anyone across the world, and the company recently launched crypto education centers in Nigeria and El Salvador with the goal of financially empowering local communities. “When used as a means of exchange, Bitcoin can bridge economies and expand opportunities for the billions of unbanked,” says CEO Ray Youssef.

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Correction, March 31

The original version of this story misstated the number of Paxful users. The company has more than 9 million users, not 6 million.

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