A team of all-round professionals have come up with a project that will provide a hybrid Crypto Exchange to serve emerging markets starting with Africa. KuBitX which is the name of the exchange project aims at providing services which are unavailable in most exchanges today. KuBitX was a project that started in 2017 and has team members with excellent track records from leading companies such as Dell, Huawei Technologies, MTN and others.
Before comercing with the project the KuBitX team noticed that the African population of about 1.2 billion people has about 60% potential users of blockchain and cryptocurrencies. This makes the African market a key target for cryptocurrency adoption. KuBitX is hoping to provide an exchange platform where all crypto assets and traditional financial services such as Payment Service Provision (PSP), trade financing, remittances, fiat-crypto deposits and withdrawals can be accessed.
The team is almost ready with the project as the KuBitX platform is already at 80% completion and the MVP trade engine is fully functional. Users can perform over 10m transactions per second and its trade engine has a near-zero latency (about 40 – 50 nanoseconds).
KuBitX is already appointing global ambassadors. The Ambassador Initiative is the game changer they are bringing to the industry. This means that they are going to be penetrating grassroots communities. The initiative will also help the exchange to mobilize, and initiate, on-board and support users across the globe. So the growth of the exchange user base will be purely organic growth and the utility of their token will also increase.
KiBitX plans on starting a private round of Token Generation Events. The KBX token is already being used in Zimbabwe as the exchange had partnered with a bank in the southern African country. The bank plans to use it for their over two million customers for all their digital transactional activities.
What do you think about KiBitX? Share your opinion with us in the comment section below.
Image credit: Pixabay
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