TOKYO: A Kenyan digital payment startup BitPesa which uses blockchain technology is planning to expand operations into Pakistan and Kazakhstan.
BitPesa is an online payment platform that leverages Blockchain settlement to significantly lower the cost and increase the speed of business payments to, from and within sub-Saharan Africa.
In an interview to Nikkei Asian Review, the company’s founder and chief executive Elizabeth Rossiello said, “Most of the company’s transactions are between customers in Europe and Africa, but “now we are seeing more between Africa and Asia.”
Till March this year, 10 percent of the transactions or $24 million being handled by BitPesa included countries in Asia.
Ms Rossiello added Africa is “a huge growth market” with an expanding middle class and the need for goods such as autos and electronics.”
“For Asian companies wanting to enter the market, BitPesa is “an easy way to start. Working with a licensed company like ours would reduce your currency risks and manage your intra and external transaction,” said Ms Rossiello.
BitPesa’s CEO is interested in raising the number of companies entering new markets besides Europe and Africa.
She told Nikkei Asian Review “Our teams are good at opening markets and are able to manage requirements and do the legal groundwork, including documentation, tax clearance and import-export certificates in each country.”
