In this week’s news roundup, you’ll read about Crypsense Digital Group being selected to participate in Draper VeChain’s Web 3 accelerator programme, Stitch’s partnership with Easy Crypto to make purchasing cryptocurrencies in South Africa easy, Yellow Card’s new service knowns as Yellow Pay, and more.
Kenyan Startup Selected for the Draper VeChain Web 3 Accelerator Programme
Crypsense Digital Group, a Kenyan-based digital assets building and management platform, has been selected to participate in the Draper VeChain Web 3 accelerator programme that will give the startup access to mentorship and support.
The startup is a brainchild of The Africa Blockchain Centre, one of the startups at Adanian Labs – a venture studio that aims to establish, nurture, and scale 300 impact-driven tech startups across Africa. Crypsense Digital Group offers end-to-end solutions for the institutional adoption of blockchain and crypto assets in Africa.
“This is an amazing opportunity to accelerate Web 3 adoption in Africa through the programme and partnerships. We have so much untapped talent and potential within our continent in blockchain and Web 3. I am excited for Africa and I can’t wait to see where this opportunity takes us. We understand the potential that blockchain has in solving some of the challenges that are facing Africa and we believe that we can use our disruptive nature as a continent to create value for ourselves through the adoption of the technology,” said Alice Anangi, the Co-Founder and CEO of Crypsense Digital Group.
The 12-week programme is usually delivered globally to high-growth blockchain companies and is run by Draper University – a leading pre-accelerator and incubator in Silicon Valley that fosters growth of high-potential technology startups. The programme will provide the selected blockchain and Web 3 startups with the needed support to get all the industry mentorship and support necessary to scale their impactful solutions across the world.
Easy Crypto Announces Partnership with Stitch to Make Purchasing Crypto in South Africa Easy
Easy Crypto, a crypto exchange, has announced that it has partnered with Stitch, an instant EFT payments and financial data API for Africa, to enable its users in South Africa to purchase digital assets on the platform in minutes as well as to securely top up their wallets.
The partnership is expected to grow the accessibility of digital currencies to the general masses in the Southern African country. Customers will be able to securely link their bank account to the Easy Crypto platform and top up their wallets via Stitch’s instant EFT in just one click when they wish to buy crypto assets. Besides faster processing times, users will be able to process payments over the weekends, thus eliminating operational delays caused by traditional banks due to weekend closures.
Speaking on the partnership, Stitch Chief Executive Officer, Kiaan Pillay said, “At Stitch, we know that in the assets space, timing is critical. Through our LinkPay method, Easy Crypto customers can enjoy a secure, seamless, and fast payments experience whenever they buy crypto – without needing to wait through the weekend, and with far fewer instances of fraud. We’re excited to work with the Easy Crypto team to enable greater accessibility to the growing crypto assets space in South Africa.”
Yellow Card Launches Yellow Pay to Help Simplify Money Transfers
Yellow Card, a Nigerian crypto exchange, has launched a new feature dubbed Yellow Pay that will make it easier for users to transfer money between different countries in Africa.
The new service is also expected to open up the African continent to more investment opportunities, business grants, and access to credit, according to its Operations Director, Oparinde Babatunde. Yellow Pay was created to make it easier for users to send and receive money between African countries, as it’s often easier to send money from an African country to the United States than to send it to a neighbouring African country.
Speaking of the Yellow Pay launch, Babatunde said, “Yellow Pay simplifies money transfer between African countries by building a solution that understands the way Africans already interact with financial products. We’ve managed to simplify it further by reducing costs and waiting time of remittance across the continent drastically compared to traditional money transfer rails. With Yellow Pay, Africans can send money across borders using their phones.”
Although Yellow Pay is not a money remittance or foreign currency exchange service but an advanced crypto exchange product, it will utilize Yellow Card’s crypto exchange platform to complete the customer transactions in USDT. Transactions made via Yellow Pay will be instant and cheaper thanks to the use of blockchain technology.
Binance Appoints New Country Head in South Africa
Binance has announced the appointment of Hannes Wessels as its Country Head of South Africa.
Speaking of the appointment, the firm said that the move will help it further its ambitions to drive and grow its business operations in South Africa as it remains at the forefront of driving crypto adoption and blockchain education in the African continent.
Wessels brings with him over ten years of experience in the traditional finance sector and is the previous Head of Global Banking for South Africa at HSBC. He is expected to lead the development of business strategies and drive strategic initiatives for Binance in South Africa.
“I am excited to join Binance at a time when crypto adoption is still in its infancy in South Africa and look forward to playing a leading role in Binance’s growth strategy in South Africa,” said Wessels about his new appointment.
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