Cryptocurrency companies have tried their best to ensure that adoption is spread across regions and that no place is left untapped. The African market has been seen as a hotbed for developments in the digital space because of the ways fiat currency has let down the native citizens.
In the latest announcement, Richard Ells, the Chief Executive Officer of Electroneum, a popular cryptocurrency wallet and cryptocurrency organization, revealed that the company was launching top-up services in Nigeria, Uganda, and Tanzania using the ETN token.
The CEO stated:
“We are pleased to announce the launch in these three African nations, where we see a clear opportunity to enable Electroneum users to top up mobile airtime through a third-party provider of the major mobile network operators. This is yet another step in our strategy to drive mass adoption.”
The top-up feature will enable users to recharge mobile services such as Airtel, Africell, Telecom, and MTN in Uganda. Citizens of Nigeria will be able to access their 9Mobile, Airtel, MTN and Glo Mobile accounts while users in Tanzania will be able to top-up their Airtel, Smart, Tigo, Vodacom, Zantel, and Halotel accounts using Electroneum.
Ells pointed out that there were over 100,000 KYC based users in Africa, with Nigeria being the most significant contributor. The country had 30,000 plus subscribers to the platform, a statistic that displayed the change in sentiments of people towards digital assets. Electroneum’s CEO added:
“What we are seeing is a digital revolution. Earlier we saw mass adoption in Brazil with more than $30,000 worth of transactions occurring on our platform. We are confident that we will continue seeing that sort of growth in the future too.”
Users have opined that Electroneum’s one tap recharge option stands out as the most attractive factor of the application. In a continent of largely unbanked people, the convenience and simplicity provided by non-mainstream entities act as a breath of fresh air.
In Nigeria, 60 percent of all adults do not have a bank account, while the number rises to 77 percent in Uganda and a staggering 81 percent in Tanzania. These numbers show that despite Electroneum’s noticeable movement in the African market, there is still a long way to go to ensure all the citizens have easy access to services.
Electroneum Nigeria, a Twitter user stated:
“Long awaited, it’s here. My work starts. Let go on letting people know about ETN.”
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