Sesacash multi-currency wallet partners with P2P trading platform CryptoLocally to power crypto payments to Africa.
Sesacash multi-currency wallet partners with P2P trading platform CryptoLocally to power crypto payments to Africa.
Decentralized peer-to-peer crypto trading platform CryptoLocally and blockchain-powered on-demand digital finance and payment platform, Sesacash, will be working together to address the many challenges confronting African nations in the financial sector. They plan to address this by leveraging each other's diverse service offerings, enabling African users to move value across borders without having to worry about expensive fees, limited cash-out options, and other restrictions related to dealing with traditional financial institutions.
CryptoLocally and Sesacash
CryptoLocally is a person-to-person (P2P) crypto trading platform that offers the easiest way to buy and sell crypto with cash or a multitude of payment methods (M-Pesa, Bank transfer, Paypal…), in any currency of your choice. Now with its latest partnership with Sesacash it enables African users to experience the fastest and cheapest way to get into cryptocurrencies without having to deal with the often restrictive policies of traditional finance.
Sesacash supports a wide variety of cryptocurrencies such as Telos (TLOS), EOS (EOS), Bitcoin (BTC), USDC (USDC), Ethereum (ETH) and its own utility token Yent (YNT). Users of Sesacash have the option to pay for fees using YNT to avail of its huge discounts depending on their YNT holdings. It also features a multi-currency account system that enables the Africans to utilize their local currencies to access other African currencies. Currently, Sesacash supports the Ghana Cedis, the Nigerian Naira, and the US Dollar. More currencies are expected to follow as Sesacash expands its operations across Africa.
CryptoLocally and Sesacash Partnership Value Proposition
Cross-border Remittances
Remittance plays an important role in many African countries. It has been revealed that around 20–30 million African migrant workers send around USD$40 billion to back their families annually and this number is set to continue to increase as more Africans look elsewhere for better opportunities and better pay. In some countries, this capital accounts for more than 50% of their Gross Domestic Product (GDP). However, most African countries have limited remittance services, resulting in limited competition and access, which in turn have resulted in extremely high fees that are amongst the most expensive around the world.
The CryptoLocally and Sesacash partnership offers Africans unprecedented access and options in both alternative and traditional finance. CryptoLocally users can buy and sell cryptocurrencies with their local currencies on its P2P trading platform and accept trades deposited directly to their Sesacash wallet. Once funds are in the Sesacash wallet, users will be able to move them in the different cryptocurrencies and local currencies supported within the Sesacash app.
Freelance Payment Options
Online freelance work has become a viable alternative as Africa becomes more connected. The current COVID-19 pandemic presents a unique opportunity for professionals from different sectors to explore this industry as conventional work might not be the best way to earn a living at the height of the persisting contagion. One of the major barriers to entry especially in this industry is receiving payments from freelance employers. However, many African nations have limited financial infrastructure restricting the viability of online freelance work due to the fact that there is no guarantee freelancers will be able to receive their payments.
It is here where the partnership of CryptoLocally and Sesacash comes into play. The combined services of CyptoLocally and Sesacash enable Africans to leverage the different financial tools that will allow them to move their money without having to pass through banks. Blockchain-based financial systems allow them to become their own banks, and if the need arises, enable them to move their assets into local banks, bank cards, or digital cash. CryptoLocally provides the P2P trading platform while Sesacash provides the gateway to move in and out of crypto.
Safe Haven Assets
Using CrytoLocally and Sesacash provides an effective, safe and easy way to protect the value of the money of its users. The partnership enables Africans to move their local currencies into more stable currencies like the US dollar in Sesacash or cryptocurrency stablecoin like USDT in CryptoLocally. It provides a safe haven for their assets especially in African countries that may experience significant fluctuations in local currency value due to macro-economic effects such as the current COVID-19 pandemic.
CryptoLocally allows traders to accept or pay with local currencies or Sesacash to move money in and out of cryptocurrencies. The fast and easy registration process allows new users to start trading within minutes without needing to share their personal information. It is a non-custodial service which means all transactions are protected by blockchain technology and have an escrow service that protects all parties in the platform. If ever the need arises, users will be able to report disputes and ask the assistance of the CryptoLocally team.
Financial Inclusion Revolution
The lack of infrastructure and restrictive financial policy in Africa makes it a primary candidate to be disrupted by innovative financial solutions that use emerging technologies to solve real-world financial challenges. Blockchain is one of the revolutionary technologies that many agree will have a substantial and relevant impact in the African financial sector. While this technology is still relatively new there have been first movers in the space who are willing to lead this revolution. Industry leaders like CryptoLocally and Sesacash are examples of these impactful initiatives.
Their combined efforts will lead the way for a new improved financial system in Africa that for so many years, has relied on the limited, archaic and restrictive banking system designed to favour the privileged few and marginalize those who need financial help the most. The partnership will empower Africans to participate in the crypto-economic revolution that is characterized as a more egalitarian and more importantly inclusive financial system of the future.
Go ahead and experience this revolution yourself. It only takes a few minutes to create an account and you don't even have to verify your identity. Welcome to financial inclusion, welcome to the financial services only made possible with CryptoLocally and Sesacash.