Electroneum (ETN) has expanded its global cryptocurrency trading presence with its first South African exchange listing.
The world’s first mobile cryptocurrency listed on Artis Turba, South Africa’s newest cryptocurrency exchange, for the first time on 7 December 2018 at 06:00 UTC with BitCoin (BTC) and Ethereum (ETH) trading pairings.
“We’re hugely excited to be trading in South Africa. It’s going to be a key area for cryptocurrency in the next few years – one of the parts of the world where crypto adoption happens quickly and on a massive scale,” said Electroneum Founder and CEO Richard Ells.
“South Africans have a real, tangible desire to use cryptocurrency as a form of payment – not just as an asset that can be mined and traded – and we have a huge ETN community there that’s leading this charge.”
South Africa is a growing market for cryptocurrency. The MyBroadband 2018 Cryptocurrency Survey showed that 47 per cent of South Africans who have never owned cryptocurrency planned to become involved with either cryptocurrency or cryptocurrency mining this year.
Richard Ells continued:
“We know there’s a huge appetite for cryptocurrency in South Africa – and the feedback from our own Electroneum South African community is that the people there want crypto they can use. We can and will provide it, and very soon we’ll be providing it to more South Africans.
“We’re looking to set up ETN Ecosystems – areas where people can earn and spend ETN and businesses can use it as both extra income and additional cash flow – across the world. South Africa is an area we want to set several up in because we know our technology will help the people and help the country with its financial inclusion efforts.
“Our mobile miner and instant payment systems are ready to make a real difference to the lives of millions across the world. As we become more established in South Africa, I know they will help the people there who need it the most, and help more people understand and experience the true meaning of crypto: currency on the blockchain.”
Artis Turba’s Co-Founder and COO Nigel Peacock said:
“Artis Turba is excited to bring Electroneum to our community. We want to give South Africans access to quality cryptocurrencies that have a dedicated team with a clear vision. We have been tracking Electroneum’s progress, especially on the mobile payment front.
“A study done by the Gates Foundation and McKinsey & Company shows only 16 per cent of people living on less than $2 a day have access to formal bank accounts, access for women and people in rural areas is even lower. Digital mobile payments will improve the lives of millions of people and are ultimately inevitable. Electroneum is definitely a crypto that we want at Artis Turba.”
Electroneum (ETN) is a mobile-based cryptocurrency with an instant payment system that vendors can easily implement via a simple API. Electroneum aims to enable financial inclusion for millions of unbanked people across the world. ETN rewards users for their engagement and advocacy. This in turn acts as a catalyst to build a strong community on mobile and on the ground. ETN’s partnerships with mobile operators, vendors and freelancer services enables multiple opportunities to earn more of the currency and spend it, creating a sustainable ecosystem in territories across the globe.
ETN raised $40m from its Initial Coin Offering (ICO) in November 2017, currently has more than two million registered users and has hundreds of people testing its new instant payment software system that allows anyone to buy and sell using ETN from a smartphone.