">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Saturday, January 16, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Blockchain

Coindirect raises €1m to bring local currency trading to crypto & financial freedom across Africa & Europe

Milcah Lukhanyu by Milcah Lukhanyu
2 years ago
in Blockchain, cryptocurrencies
7 min read
0

 Coindirect, the global cryptocurrency platform, has raised €1m in an investment round led by Concentric, with participation from Blockchain.com, and MakerDAO.

The end-to-end cryptocurrency platform, founded by Donald Jackson, Jesse Hemson-Struthers, Nicholas Haralambous and Stephen Young, is one of the first of its kind to enable customers to trade cryptocurrencies like Bitcoin and Ethereum using their own local currency in the emerging markets.  

According to Nic Haralambous, COO, Coindirect: “Coindirect is on a mission to change money by building a bridge between the decentralised world of crypto and the centralised world of traditional finance. Our goal is for everybody, from a first-time buyer to a pro-investor, to easily and securely be able to buy, sell, trade and track their assets in one place. This round of funding and the key partners we have on board take us a step closer to our objective of achieving mainstream adoption of cryptocurrency in Africa and across the globe.”

The Coindirect platform allows users to buy and sell cryptocurrency using traditional local fiat currency wherever they are using their mobile device or desktop browser. It supports over 40 different cryptocurrencies at present, which is the largest offering in Africa.

Coindirect has proven its offering in the South African market, where it has acquired 40,000 registered users. The platform also caters for data-sensitive users in markets where data costs are high and coverage can be limited.

With the help of the latest round of funding, Coindirect plans to further expand across Africa and Europe, supported by partnerships with Blockchain.com,  MakerDAO and others being announced in the coming months. The business is particularly focused on bringing cryptocurrency to emerging markets, with growing demand for alternative ways of banking and engaging with money in these regions. The team believes the lull in the crypto markets provides an ideal opportunity to build the infrastructure for widespread adoption.

READ  Cellulant to scale Agrikore, it's mobile blockchain-based platform to more farmers

Alexander Mann, Investor at Concentric, commented: “Coindirect is tapping into a genuine use case for cryptocurrencies – and Bitcoin’s original purpose – which is to give citizens in countries with poor governance a chance of financial freedom. The business is in a fantastic position to expand its distribution across Africa and internationally, thanks to a stellar team with extensive entrepreneurial experience, and an understanding of how to scale early-stage ventures. With few sophisticated competitors currently challenging in this market, we’re excited to see what the future holds for the business.”

Related posts

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
0

Why do more and more people prefer using cryptocurrencies for betting?

December 14, 2020
0

Learning Cryptography and Communication Security

December 1, 2020
0

The Four Steps to Purchasing Bitcoin

November 20, 2020
0

“Maker believes the blockchain has the power to create an inclusive platform for economic empowerment,” said Rune Christensen, CEO and co-founder of MakerDAO. “Working with Coindirect to help people purchase and trade cryptocurrencies with their local currency is one step closer to providing people around the world with equal access to the global financial marketplace.”

Samuel Harrison, Managing Partner at Blockchain.com, commented: “At Blockchain, we’re committed to advancing the crypto ecosystem and providing consumers with financial utility beyond speculation. We believe the emerging markets use case for blockchain technology is compelling for both payments and also as a store of value. This is particularly true in regions with less developed payments infrastructure, high inflation, and restricted access to traditional banking services. We’re thrilled to work with Coindirect with the mission of bringing crypto to the hands of the consumer”

Readers 4,062

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

cryptocurrencies

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
0
Bitcoin

Why do more and more people prefer using cryptocurrencies for betting?

December 14, 2020
0
cryptocurrencies

Learning Cryptography and Communication Security

December 1, 2020
0
Blockchain

The Four Steps to Purchasing Bitcoin

November 20, 2020
0
Bitcoin

Bundle Hits $14 Million Monthly Trade Volume, Expands To Ghana

November 17, 2020
0
Blockchain

Provably Fair Blockchain Algorithms the New Fad in iGaming

November 14, 2020
0
Bitcoin

Paxful crypto marketplace partners with Uhuru Wallet

November 11, 2020
0
Blockchain

Top Tech CV Skills in 2020

November 9, 2020
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

realme to release more phones in 2021 to grow its smartphone market share

January 16, 2021

What You Need To Know To Manage Your Network Effectively

January 16, 2021

Baidu establishes an Intelligent electric vehicle arm to bring autonomous cars on a road near you

January 15, 2021

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: