ModulTrade creates a foundation for the launch of ModulTrade blockchain based smart-contract platform (MT WALLET and MT MARKET) in the African continent after signing agreements with leading financial & logistic organizations and meeting with an Ambassador of the Russian Federation, Vladimir Baikov.
Logistics company SIMAT, and SERFIN, one of the key players in financial services and a representative of Western Union in Côte d’Ivoire and Burkina Faso, will both benefit from using ModulTrade products; ModulTrade Market and the ModulTrade Wallet, working on the ModulTrade blockchain currency, MTRc.
The move into Africa marks a pivotal change in a market where there are more smartphone users than those with bank accounts. One of the key benefits ModulTrade provides is taking the full trade cycle online. Trade can now be executed through smartphones, tablets or desktop, with smart-contracts ensuring trusted transactions between both buyer and seller.
SIMAT will benefit from the ModulTrade Market’s capability of cross-market trading, and the delivery of goods around the world. This partnership will open the doors for MSMEs who have before struggled to export and import through traditional trade flows.
The partnership with SERFIN will see ModulTrade’s Wallet added to 800 outlets as a choice for money transfer and payment, and the ModulTrade Market a secure trade platform for SEFIN’s clients – the MSMEs.
The partnerships have been welcomed by Russian Ambassador Vladimir Baikov, who agrees with the need for a new platform like ModulTrade to allow easier and safer cross-border trade and transactions for the African market.
Further to SERFIN and SIMAT, discussions are in place with other businesses, of which partnerships will be announced in due course. Current partnerships will commence with a pilot from July.