Reaching the Unbanked in Africa: BitPesa Gains Investment to Grow BitCoin Business in Africa

BitFury Group, the world’s leading Bitcoin Blockchain framework supplier and exchange preparing organization, has made an interest in BitPesa, one of Africa’s driving bitcoin installment stages.

BitPesa is an all inclusive bitcoin installment and exchanging stage that tries to give the container African mainland liberated access to the regale of the worldwide economy. “Our central goal is to make worldwide executing simpler, particularly for the individuals who keep on facing impediments to money related development,” said Valery Vavilov, CEO of BitFury. “A safe, straightforward and trusted type of trade is being made conceivable by BitPesa, and our speculation will permit us to cooperate to influence the imaginative force of the Bitcoin Blockchain for the advantage of the whole container African landmass.” The vital venture was made by BitFury’s speculation arm BitFury Capital.

Africa is seeing a rise in Bitcoin activity, with startups springing up continent-wide specialising in the cryptocurrency as digital currency offers a great way to reach the unbanked in Africa.


BitPesa allows individuals and businesses all over the world to quickly and securely send payments to and from Kenya, Nigeria, Uganda, and Tanzania. The company accepts bitcoin and exchanges it for local African currencies, which are then deposited into African bank accounts or mobile money wallets. BitPesa also sells bitcoin in Kenya, Nigeria, and Uganda, for those users who do not have access to other bitcoin exchanges.

BitPesa is licensed by the FCA as an Authorized Payment Institution, making it a more trusted solution than using informal brokers or cash agents, the traditional route in Africa for many people seeking to engage in exchange. BitPesa also uses bitcoin to exchange directly between African currency and other global currencies, reducing unnecessary and expensive dependence on using the U.S. dollar as a means of exchange.

“It has been great to have the support of the BitFury Group, who work extremely hard to build community amongst companies working with bitcoin, large and small,” said Elizabeth Rossiello, CEO of BitPesa. “Valery and his team have a long history working in frontier markets and nothing is more important to our team than an understanding and support of the work we do.”


Written by How Africa

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