SAFCOIN among "140 FinTech startups to watch"
By TEAM SAFCOIN • May 13, 2021
This week SAFCOIN had the profound fortune of being named in The Baobab Network’s “140 #FinTech start-ups to watch in South Africa 2021.” – an accolade which certainly testifies to our mission as a pioneering force, driving crypto and e-commerce on the African frontier. SAFCOIN received this honour among a plethora of other reputable Fintech startups in the country.
With Baobab Insights focussed on providing expository data and analysis on Africa’s Venture Capital Markets, the recognition is timely and does well to further cement our burgeoning prowess ahead of our upcoming IEO on 26 May 2021, where we will be the first African POW Scrypt Algorithm cryptocurrency to be listed on International Exchanges.
An Initial Exchange Offering (IEO) is conducted on the platform of a cryptocurrency exchange, and is administered by a crypto exchange on behalf of the startup seeking to raise project funds with its newly-issued tokens.
In the IEO, SAFCOIN will be listed on P2PB2B exchange, as well as Catex Exchange, which currently holds a place in the top 100 exchanges in the world. P2PB2B is a crypto asset exchange located in the United Kingdom, with a trade volume of $603.61-million over the last 24-hours at the time of writing.
Catex on the other hand, is a crypto asset exchange located in China, boasting a trade volume of $137.43-million per day.
Hosting an IEO provides SAFCOIN an exciting opportunity for expansion into international crypto markets; increasing market liquidity and decentralization. Of the two, decentralization is a particularly desired characteristic since this very quality is what makes a cryptocurrency more trustworthy. With decentralization considered an absolute, as in a cryptocurrency is either completely decentralized or completely centralized - our upcoming IEO stands to enable significant inroads in our pursuit of decentralization.
User-patterns and data statistics previously indicated that Africa had the second-highest adoption of cryptocurrencies worldwide, with the bulk of growth concentrated amongst youth populations. Crypto makes allowances for transacting across borders, streamlining payment processes and although volatile, are more powerful than other depreciating local fiat currencies – allowing Africans to trade outside of their local economies. By extension, it is then reasonable to deduce that cryptocurrencies are somewhat tailored to the African context, and is a territory that must absolutely be ventured and expedited with full intent. This is territory we, at SAFCOIN, intend to penetrate, and our beckoning IEO and international exchange listings will undoubtedly aid in facilitating that penetration.
Another noteworthy aspect in our extensive portfolio is the myriad of services accessible via our platforms, some of which are still in fervent development. At SAFCOIN, we pride ourselves in the fierce pursuit of our mission to provide users with the holistic crypto and e-commerce experience through our SAFCOIN eco-system, ranging from functions that facilitate crypto transactions, all the way through to providing a platform for job stimulus. These include our curated platforms, namely:
- SAFCOIN Mobile Wallet, which is at the core of the SAFCOIN Eco-system, which allows users to be synced across all SAFCOIN platforms within in our eco-system
- SAFPay Payment Gateway, a crypto-to-crypto payment gateway that facilitates instant crypto payments for popular cryptocurrencies and third-party wallets integration
- Cryptovalley.africa, an international online shopping platform, supporting multiple vendors, aimed at growing local businesses
- Mobijobs.africa – A crypto-powered freelance marketplace which caters for the cash out options local users utilize daily, making earning on a global scale possible, and cashouts both cheaper and faster.
- SAFCOIN Rewards connects African e-commerce AND brick-and-mortar businesses to a network of customers locally and worldwide.
Our eco-system has enabled us to cover significant ground in service provision, in both ethical and confidential fashion, prizing the protection of user information alongside the provision of a user-friendly interface on all platforms. Naturally, the next step for SAFCOIN is expansion into world markets – this IEO stands to be groundbreaking for SAFCOIN. Our recognition on a national scale is but testament to our dedication to consistent growth. In 2021, SAFCOIN to the moon!