Cape Town, 6 December 2022 – Today, neobank Be Mobile Africa has announced the launch of its cryptocurrency payments gateway which will enable businesses and merchants in Africa to accept and make payments with Bitcoin (BTC) and other cryptocurrencies such as Ethereum (ETH), as well as USD stablecoins such as USDC and USDT.
Customers will be able to automatically convert incoming crypto payments in ZAR, USD or EUR or have the option to keep crypto with Be Mobile Africa providing full custody. “International payments have always been a pain point for African SMEs. Sending or receiving money from customers outside of one’s country is expensive and often takes days.” says CEO Dr. Cédric Jeannot. We are seeing an increase in the number of African SMEs transacting with clients outside of their own domestic market including other African countries. This new payment gateway is a game changer” he added.
The new cryptocurrency payment gateway will offer SMEs fees up to 10 times cheaper than traditional banks and real-time transactions. “It’s important to remember that for a multitude of reasons, Africa is one of the fastest-growing crypto markets in the world. Many African businesses don’t have access to the same tools that are available in western market and are therefore leapfrogging to crypto when it comes to payments. This is especially true in countries where the values of local currencies are losing value – using crypto to preserve wealth in unfavourable economic conditions.” says Dr. Jeannot.
About Be Mobile Africa
Be Mobile Africa is a neobank that provides affordable banking services to individuals and businesses across 30 countries in Africa. In March 2022, Be Mobile Africa was the subject of a Harvard Business School case study.