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TechInAfrica — An African Bitcoin startup, Bit Sika said to be approved by Twitter CEO, Jack Dorsey, has reached $1 million in transaction volume in four months of the launch.
The crypto startup began as a crypto donation platform before becoming a full-fledge payment infrastructure in Africa. The payment app allows its users in some particular countries in Africa to transfer funds across the continent seamlessly.
The startup has recently expanded its remittance services to Mauritius, Mali, Ivory Coast, Senegal, Gabon, and Cameroon.
The founder of the startup, Atsu Davoh tweeted: “Happy to say that @BitSikaAfrica has expanded to money transfer between Cameroon, Gabon, Senegal, Ivory Coast, Mali and Mauritius (alongside Ghana and Nigeria)”.
Prior to this news, Bit Sika had announced that in just two weeks of launch, the Africa-based cryptocurrency exchange processed more than $100,000 worth of transactions on the application. At the time, the CEO of Bit Sika said the total amounts included deposits, withdrawals, and transfers.
Africa is becoming the next point of crypto investment across the globe considering that there are quite a large number of unbankable people. This is making the likes of Jack Dorsey to eye Africa as another area to focus on. In fact, the CEO of Twitter said he will relocate to Africa.
Twitter and Square CEO, Jack Dorsey attended a Bitcoin meetup in Ghana. The CEO has been defending Bitcoin and even vowing to never join Facebook’s Libra initiative.
Speaking in a gathering in Nigeria, Jack told those who gathered that he came to the continent “to understand the challenges of starting a company here and figure out a way I can support.”
During his visit to Africa, Jack Dorsey thanked the CEO of Bit Sika for compiling a ‘Bitcoin Africa‘ list on Twitter where the world can get to meet those involved in cryptocurrency in the region.
Bit Sika and some other crypto firms work together to build Africa’s first Stable-Coin ($ABCD), a stable digital currency version of the Nigerian Naira without volatility. The cryptocurrency token is issued by a trusted company, $ABCD Collective.
Source: newslogical.com
