Akoin, the cryptocurrency and Dapp ecosystem from global artist and visionary, Akon, has partnered with Atlanta-based BitMinutes, a fintech startup leveraging blockchain, to offer tokenized prepaid cellphone time that can be sold for fiat or cryptocurrency on the African continent. Speaking on the partnership, Tom Meredith, CEO, BitMinutes said:
“We’re excited to be Akoin’s first Dapp partner and use case. We beleive Akoin brings a sophisticated ecosystem to a region of the world in dire need of modernization.”
The partnership enables the Akoin platform to be used as banking and settlement system for prepaid minutes. People who don’t have bank accounts can approach the prepaid minutes vendors in their locality and convert cash into BitMinutes or Akoin. The tokens can be sent to other phones as airtime top-ups or converted to fiat currency.
So far, BitMinutes has already trained more than 100 agents in Nigeria that are service more than 1,000 people in the country. Akoin is expected to grow this operation exponentially across the continent.
Speaking on the partnership, Akoin President and Co-Founder, Jon Karas, said:
“Given Akon’s relationships with African countries and governments, integrating Akoin is considered a win by each of the political leaders. The fact that BitMinutes is already doing something amazing in Nigeria and Kenya for the unbanked is what makes this a good partnership. However, the real winner isn’t Akoin or BitMinutes, but millions of Africans who will, as Akon hopes, ‘regain control of their resources.’”
— AKON (@Akon) October 10, 2019
Akoin is a new cryptocurrency from global artist and visionary changemaker, Akon, and is the foundation of the Akoin ecosystem – a unique global venture that offers an abundance of digital and real-ife platforms and tools that create opportunity and inclusion for youth entrepreneurs by allowing consumers to learn, earn, save, and spend cryptocurrency right from their smartphone through a suite of blockchain-powered apps.
BitMinutes, is a startup fintech based in Atlanta, USA, leverages distributed digital ledgers to make purchases, money transfer, loan generation, and access to airtime minutes accessible via the blockchain. The company leverages its BitMinute (BMT) token to allow peer-to-peer value transfer to over 1.2 billion bank and mobile accounts across over 70 countries and prepaid iartime top-ups to over 4 billion mobiel accounts in over 120 countries.