A new collaboration between digital finance and cash settlement platform Sesacash and CryptoLocally, a peer-to-peer digital currency trading firm, hopes to solve the financial inequities in the African continent.
On April 14 through a blogpost, Sesacash announced its new deal with P2P cryptocurrency trading firm CryptoLocally aiming to provide a solution to Africa’s financial problems. The co-founder and CEO of Sesacash, Blaise Bayuo stated that the ease of access in digital currencies on the continent will enable Africans to reap the benefits of less costly and fast cross-border transactions. He said:
“Cryptocurrencies offer a cheaper and faster medium to make cross-border payments into Africa and within Africa. We expect more Africans to join the global economy and earn crypto income.”
Sesacash and CryptoLocally to enable Africa to transact in digital currencies
The biggest barrier towards mainstream adoption of virtual assets is people’s hesitancy to chop and change to the more complex cryptocurrencies world. Sesacash aims to introduce digital currency debit cards to Africa to allow people spend and manage their virtual wealth through a more familiar means. According to Bayuo:
“This will reduce the complexities involved in crypto transactions using exchanges and wallets that involve private keys. Users can spend and pay for goods and services directly from their crypto debit card.”
Afterwards, according to Bayuo, the new partnership will help create more awareness about the use of digital currencies in the corporate world. According to Bayuo, they will achieve this by explaining how cryptocurrencies can accelerate the growth of their business enterprises beyond the geographical; boundaries.
Additionally, he revealed that Sesacash is aiming at fusing a fully fledged cryptocurrency wallet into the Sesacash mobile application.
African continent is ready for digital currencies
The government, fiat cash and digital currencies do not get along well as administrations worldwide have not fully accepted the concept of cryptocurrencies. Majority of nations are still trying to ban digital currencies. Nevertheless, Sesacash and Cryptolocally aims for a blossoming future of digital currencies in the continent.
Bayuo highlighted that it is only the other day that the government of Ghana agreed to develop a central bank digital currency (CBDC). He said that the other African states are undertaking a similar challenge adding that the changing times will allow for wider acceptance of digital currencies in the world.