African Fintechs collaborate to interlink mobile money and digital assets
SECDEX and KOINON jointly foster B2C & B2B payments convergence & digital assets exchange
Seychelles, Nairobi 14th April 2021. The Seychelles-based Securities, Commodities and Derivatives Exchange (SECDEX), and KOINON, the global Digital Coin and Token based payment platform, are pleased to announce a collaboration to foster the intersection of African B2C and B2B payments and dynamic asset conversion between fiat currencies, cryptocurrencies and a broader range of digital assets. This initiative comes at a key time in the mobile payments industry growth as evidenced by Mastercard’s recent $100million investment in Africa’s Airtel which focuses on mobile payments and financial inclusion.
This latest partnership combines KOINON’s cryptocurrency digital payment coins (KOIN) and Stablecoins, plus their retail and payments expertise, products and technology with SECDEX’s digital exchange, digital custody and broader digital capital markets services. Integrating the KOINON and SECDEX API’s enables the KOINON mobile app and the KOIN Pay wallets to interface with SECDEX Digital Custodian, which can then be accessed by SECDEX Marketplace and SECDEX Exchange.
The partnership is fostering cross border distribution of new African opportunities to a broad range of clients encompassing payments facilitation, payments processing, remittances and dynamic asset conversion (the automatic swap of one digital asset received in payment, to another asset or to fiat currency, via live quotes) on SECDEX Marketplace or SECDEX Exchange.
KOIN is listed on the SECDEX Marketplace, where participants can swap between cryptocurrencies, fiat currencies — initially USD — and KOIN as well as action wallet to wallet KOIN transfers. SECDEX has already transacted block trades on its platform at US$0.40 per KOIN for market participants. The two companies are working together to bring liquidity providers into the ecosystem supplemented by retail and institutional users, in addition to the development of pan-African stablecoins.
Hirander Misra, Chairman of SECDEX Group said, “Interfacing digital payments with digital exchanges will ensure efficient dynamic asset conversion and will open up wider financial access to the participants that adopt this initiative.” He added, “Delivering multiple opportunities for users, retailers, merchants, payments operators, exchanges and institutions will be a key factor in driving emerging markets growth and financial inclusion.”
KOINON is also bridging the gap between the current environment, where POS merchant processing systems accept cash and credit/debit cards, and the future environment where offline and online merchants will be seamlessly equipped to accept all relevant payment methods.
Matthew Mecke, Founder of KOINON said, “We are excited to foster African opportunities to harness mass market users, and aggregate and match these with institutional activity underpinned by a well-designed compliance construct to ensure robust KYC/ AML.” He added, “We have seen that providing innovative payments, using stablecoins and reducing friction in fiat transfers is a significant development that attracts large scale users.”
SECDEX and KOINON are also in discussions with several African Governments regarding opportunities for account-based Central Bank Digital Currency (CBDC) development and how CBDC is linked into the wider ecosystem to ensure the circulation of money and cash flows. The firms are also looking at collective synergies and opportunities with Decentralized Finance (DeFI) by way of their combined technological capabilities.
The SECDEX market infrastructure ecosystem comprises a regulated exchange (offering traditional and digital assets), central counterparty clearing house (CCP), central securities depository with registry, digital custodian and crypto marketplace. KOINON delivers digital payment platform solutions for both consumer payees as well as merchants and was set up to enable fast, low-cost, and scalable digital payments and remittances.
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The Realization Group
Tel: +44 (0)7974 937 970
The Seychelles-based Securities, Commodities and Derivatives Exchange (“SECDEX”) is a market infrastructure ecosystem located in the Seychelles. It is a multi-asset hybrid exchange combining the benefits of a digital exchange with those of a traditional exchange. It focuses on securities, debt, spot commodities and derivatives contracts in traditional and digital tokenised form.
The Group consists of:
- SECDEX Exchange Limited (“SECDEX Exchange”), which is authorised and licensed by the Seychelles FSA to operate a regulated securities exchange with multi-asset capabilities, which include derivatives and digital assets.
- SECDEX Clearing Limited (“SECDEX Clearing”), which is authorised and licensed by the Seychelles FSA to operate a regulated central counterparty (CCP) clearing house to clear trades executed on SECDEX Exchange.
- SECDEX Depository Limited (“SECDEX Depository”), which is authorised and licensed by the Seychelles FSA to operate as a regulated central securities depository and registry for securities listed on SECDEX Exchange.
- SECDEX Digital Custodian Limited (“SECDEX Digital Custodian” or “SDC”), which is authorised and regulated under the regulatory Sandbox of the Seychelles FSA to operate digital custodial services for a broad range of digital assets.
- SECDEX Digital Marketplace (“SDC Digital Marketplace” or “SDM” or “SECDEX Marketplace”), which operates as part of SECDEX Digital Custodian Limited as a trading venue to offer a broad range of cryptocurrencies. These by being in custody can be traded.
For more information visit www.secdex.net or follow us on Twitter @Secdex
KOINON, Trading Symbol KOIN, is the creation of American fintech and digital payments expert, Matthew Mecke. Matthew is a +25-year veteran of the digital payments industry and one of the world’s pioneers of global fintech. He created KOINON to enable fast, cheap, and scalable digital payments and remittances. His work to develop KOINON has taken him across the Americas to Asia, the Middle East, and Africa. KOINON was intentionally built and launched without the need for crypto mining and its associated energy consumption. 125 million KOIN were produced. No additional KOIN will ever be produced. KOINON’s first trading platform is SECDEX, https://www.secdex.net/, the Seychelles’ Regulated, Multi-Asset, Hybrid and Digital Exchange. SECDEX was chosen because it is fully licensed and FSA regulated (KYC and AML-compliant), and purpose-built for supporting cross border multi-currency transactions.
Offering and accepting KOIN, or White Label versions of it, is being promoted to Central Banks and large institutional customers like mobile phone companies, energy and water utilities, financial institutions, eCommerce sites, large manufacturers with regional distribution networks, and many others. The offering is quite simple: a very fast and low-cost way to pay or be paid without the need for any proprietary currency settlement networks or foreign exchange (FX) services. Fiat settlement can occur as and when Users decide, putting the power back into the hands of the those who ultimately pay for it.
For more information visit https://koinon.io/ or follow us on Twitter @Koin_on