Now customers in Tanzania would be able to process their Bitcoin payments as Kenyan Bitcoin startup BitPesa is expanding to this neighboring country. The decision has been made after about a year since its launch the last year. The mobile-friendly digital currency exchange has transformed the way money transfers are done in the African country.
All around the world talks about the success story of BitPesa have become common; the company even received attractive investments from international investors. Earlier, it raised a total of US$1.8-million from investors. The money was raised from investors by the company then used for expansion across Africa that now includes Tanzania by the company.
Talking about the latest decision to enter into Tanzania, company CEO Elizabeth Rossiello admitted that it was planned all along. Presenting her views at the Bitcoin Africa Conference in Cape Town where she highlighted the real need for Bitcoin technology to address the issues of continent’s financial services sector she admitted the role of her company was immense.
Rossiello had then said that the company that was the first on the planet to link mobile money with Bitcoin was able to cater huge number of people as around 97% of the people in Kenya use mobile money. She admitted that in Tanzania it’s even better. She calls it mobile money 2.0 where they have three key operators using it instead of one company.
She has been quoted by various publications around the world as she represents a success story how Bitcoin can help Africans get banking services using mobile technology. She admits that instead of sending Bitcoin to another bank account or Bitcoin wallet, users can actually send Bitcoin to someone’s mobile wallet using their contact number in real-time.
Universal Availability of Mobile Phones Helps Bitcoin Reach to All
It is expected that like BitPesa has been serving customers in Kenya, it will be able to deliver similar services for customers in Tanzania. With this expansion people can now make a payment to any Tanzanian mobile money number instantly from anywhere in the world. Interestingly, as transaction fee has been kept at merely 3% they will be paying less.
Nonetheless, Rossiello admits that banking infrastructure has fallen behind and money transfer services like Western Union have filled the void; however, with the Bitcoin technology and universal availability of mobile phones everyone has access to world-class infrastructures to get convenient, cheap, scalable, transfer of money.
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