Jack Dorsey has always been smitten by Africa. Although he is the CEO of Twitter, he also invests and “endorses” cryptocurrency service providers.
One of the companies carrying his approval is Bit Sika.
The Success of Bit Sika so Far
This remittance provider in Africa has seen the light of day several months ago.
This week, it reached over $1 million in transactions.
While those figures are not unique, the company uses a different business model.
It only provides services in both Ghana and Nigeria.
These are two crucial regions for mobile money solutions, particularly where remittances are concerned.
The company also supports the sending and receiving of multiple cryptocurrencies, alongside fiat currencies.
In fact, most of its business model focuses on cryptocurrencies.
They are easier to send to others, cheaper, and often a lot faster.
Even the Bit Sika fiat-to-fiat remittance is fully backed by cryptocurrency processes.
For such a company to achieve this level of traction is nothing short of amazing.
While most users might not know that Bit Sika uses cryptocurrencies, it allows them to benefit directly.
The company now look to take its business to the next level
Entering other markets is crucial for Bit Sika.
The company primarily targets French-speaking African nations, including Senegal, Mali, and Ivory Coast.
A solid approach, as cryptocurrencies remain a superior form of money by default.