Africa-Focused Bitcoin Platform Paxful Suspends Operations
- Paxful’s clients can move their funds to alternative wallets
- Platform’s trade volumes over $4 billion since launch in 2015
The Paxful website.
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Paxful, an Africa-focused Bitcoin trading platform, is indefinitely suspending its operations, the company’s co-founder, Ray Youssef, said in a statement, citing a staffing crisis and growing regulatory challenges.
Customers will be able to retrieve their funds from the Paxful wallet, he said. The peer-to-peer Bitcoin platform, whose trading volumes were more than $4 billion since launching in 2015, was popular with users in countries including Nigeria and Ghana.