Paxful, a cryptocurrency payment gateway, has launched “La Casa Del Bitcoin” in the heart of El Salvador’s capital city.
Salvadorans continue to be unaware of digital assets
Despite the fact that El Salvador was the first government to embrace Bitcoin as legal cash last year, 90 percent of the Latin American country’s residents characterize their knowledge of Bitcoin as inadequate or non-existent. Paxful has created an education center in San Salvador in collaboration with the Built with Bitcoin Foundation in an effort to raise awareness about the new financial landscape and potential.
La Casa Del Bitcoin will hold a range of events as part of its objective, including meetups, presentations, and educational seminars. Paxful’s CEO and co-founder, Ray Youssef, stated:
Education remains a vital driver of worldwide Bitcoin growth, and this new center exemplifies its significance in the development of an equitable financial system. We’re delighted to learn from the people and promote the power of Bitcoin for financial independence and equality, from the tiny merchant to the Bitcoin fan.
El Salvador’s Contribution to Bitcoin Adoption
Will Hernandez, Paxful’s Director of LATAM Growth, says that the payment provider has seen a 300 percent increase in El Salvador over the last year:
Peer-to-peer platforms are driving acceptance in emerging economies, and as a people-powered platform, we recognize the importance of education in the next wave of adoption. The center will bring education, accessibility, and opportunity to a demographic hitherto overlooked by traditional finance and demonstrate the real-world benefits of Bitcoin to emerging economies.
President Nayib Bukele declared intentions in November 2021 to build an entire city using Bitcoin-backed bonds. Yusuf Nessary, Director of Philanthropy at the Built With Bitcoin Foundation, commented on the prospects presented by El Salvador’s historic decision for both people and the country as a whole:
We are launching projects that demonstrate Bitcoin’s capacity as a charitable instrument to promote transformation and financial freedom. We are grateful for the opportunity to provide resources and continue to provide equal opportunities for the innumerable people and communities who help us carry out our mission.
