Kubitx, the pan-African crypto currency exchange, has begun to work after the completion of beta testing. Registered in Malta trading platform has also released a “hybrid OTC wallet” that allows users to buy and sell crypto currencies, including BTC and BCH, as well as to pay the bills.
Eric Annan, Executive Director Kubitx, said that in the original exchange will be transferred the digital asset 22 in pairs with BTC, ETH, USDT and KBX and internal digital token. Some of them will be available for trading from start-up including: Ripple, Dash, and zcash for Doge.
Trading opportunities for traders
Users who plan to trade or withdraw amounts in excess of $10 000 would be subject to verification for compliance with the KYC rules. At the moment on the exchange are tested for 100 people. Starting with Nigeria, the largest market for Bitcoin in Africa, traders can exchange their crypto currency in local currency of Naira and withdraw directly to your Bank account. The following services will be deployed in the future in other countries on the continent.
“Registration for the exchange very easy and user friendly as we made the exchange very simple for regular people,” explained Annan. He also added that the speed of execution of transactions on Kubitx is 10 m/sec and the stock exchange has implemented some additional tools such as anti-market manipulation and trade monitoring to ensure compliance with regulatory requirements.”
Founded in 2017 the platform Kubitx declared itself as about “hybrid exchange digital assets”, built on the blockchain to facilitate payments on the African continent and abroad. On the stock exchange executed trade operations, processing money transfers and off-exchange transactions. As a legal entity the exchange was registered in Nigeria and Zimbabwe.
OTC hybrid wallet
Exchange Kubitx also released a “hybrid OTC wallet” designed “for mobile devices on Android”. With it, investors are able to trade, send and receive. virtual currency. They will also be able to pay bills in bitcoin or using a certain debit or credit cards. It will also support cross-border payments and remittances, including payments for purchases or tuition at school.
“OTC wallet is designed to facilitate financial integration in Africa using the technology of the blockchain,” explained the representative Kubitx.
In the future, the exchange plans to open its branches in Zimbabwe, Angola, South Africa, Ghana, and other countries after the ICO in the amount of $12.5 million.
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