Denis Opudo
Golix is the leading cryptocurrency exchange platform in Zimbabwe. The startup has partnered with Blockstarters from South Africa. The partnership will help it put up its services in South Africa. Blockstarters is crypto/blockchain hub and incubator located in South Africa. The South African market is known to be an economically stable market. It is a market where any venture will like to operate at. The move is part of Golix’s goal to expand to various markets across Africa within a short time.
Blockstarters helps startups firms in overcoming challenges that might make them not to reach their full potential. It does this by offering them a conducive environment. This is an environment that contains possible capital ventures and blockchain fields. It is so challenging for many startups to enter new markets for the first time ever. But Blockstarters will give Golix a chance to get into South African market cryptocurrencies space and meet the like-minded firms without any difficulties. Golix had only two offices in Harare the Zimbabwean capital. The offices have a total of 22 staff as the business continues to expand.
This was a great development according to Yeukai Kusangaya the startup’s Product Manager. The crypto & blockchain hub and incubator will offer Golix a better platform to learn more. For the whole period, the hub will offer directions to Golix. This will help it reduce the high cost of exploring such new markets. Kusangaya also says that South African market is the best place to be for the startup given its interest in cryptocurrency. According to Kreaan Singh the co-founder of Blockstarters, the startup was created to bring the best out of crypto & blockchain industry. The main aim was to help startup have a gradual growth and be an inspiration to each other to develop innovative solutions for the continent. The best way to do that is by bringing everyone to the same table.
South Africa is now home to more than three million Zimbabweans. The individuals take millions back to their country every year. Currently, Golix does not use the Rand (ZAR). Therefore partnering with the hub might make it introduce the currency. Zimbabwean government does not openly allow the use of cryptocurrency. This is quite different with South Africa that has given it a proactive approach. A report in February 2018 stated that Central Bank of South Africa was on the verge of carrying out a feasibility research of blockchain technology in the country. The move will help raise the public confidence in cryptocurrency.
