[PRESS RELEASE: AUGUST 10, 2020]
BitMinutes, a monetary companies expertise firm leveraging blockchain and pre-paid minutes tokenization to offer monetary inclusion to the worldwide shopper, introduced in the present day that it has added a characteristic to its utility that may make it straightforward for Nigerians to buy Bitcoin (BTC) in addition to US {Dollars}.
This performance is at the moment solely out there solely in Nigeria.
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In a little bit over two years in Nigeria, BitMinutes has created a Trusted Agent Community (TAN) of retailers that settle for the Nigerian BitMinutes for items and companies in addition to exchange Nigerian BitMinutes for native foreign money. That community spans greater than 1,300 TAN brokers, serving greater than 7,000 residents.
The most recent characteristic will permit account holders to simply buy BTC of US {Dollars}, utilizing Nigerian BitMinutes, from their telephone or laptop.
Talking concerning the new characteristic, Tom Meredith, CEO, BitMinutes, stated:
“The Nigerian BitMinute is a stable coin that can be used as a currency in Nigeria. We believe adding this feature will further solidify our foothold in Nigeria, and further position to expanding our existing operations in other countries on the continent, such as Kenya.”
The aforementioned announcement comes on the heels of final month’s huge information that Prime Belief, LLC, a extremely revered U.S.-based Belief and Custody agency, has partnered with the mother or father firm of BitMinutes to develop the TAN idea in america.
About BitMinutes
BitMinutes Inc. is a startup fintech firm, based within the U.S. BitMinutes tokens (BMTs) are exchangeable into common pay as you go airtime minutes. Pay as you go minutes are already traded informally as foreign money inside nation cell networks, out there to billions of cell phone homeowners.
BitMinutes’ tokens additionally permit peer-to-peer value switch to thousands and thousands of bank and cell accounts throughout 70 contracted nations and pay as you go airtime top-ups to over four billion cell accounts in over 120 nations. Extra importantly, BitMinutes plans to facilitate the growth of micro-credit lending in communities the place lending is uncommon and too costly for many particular person debtors. BitMinutes’ possession and transactional information will set up a brand new kind of shopper credit score rating for rising market shoppers who at the moment wrestle with restricted entry to capital and a scarcity of conventional banking companies. As well as, BitMinutes will create funds platforms in nations the place it launches to facilitate cell funds much like the M-Pesa platform which has achieved success in Kenya, however which has not but been broadly adopted in different nations.
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