The Future Coin

Bitcoin

$19,036.25

BTC -1.37%

Ethereum

$591.81

ETH -2.95%

XRP

$0.60

XRP -4.21%

Litecoin

$84.99

LTC -4.14%

EOS

$3.01

EOS -2.37%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Technology News

Jeff Bezos-Backed African App Chipper Cash Launching Crypto Trading After Raising $30 Million

by The Future Coin
November 22, 2020
in Technology News
0
Jeff Bezos-Backed African App Chipper Cash Launching Crypto Trading After Raising $30 Million
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Jeff Bezos-Backed African App Chipper Cash Launches Cryptocurrency Trading After Raising $30 Million

An African company backed by Amazon CEO Jeff Bezos, Chipper Cash, has raised $30 million and is launching a cryptocurrency trading service due to high demand for cryptocurrencies, including bitcoin. Users of Chipper Cash will be able to buy and sell cryptocurrencies as well as U.S. stocks, such as Tesla, Apple, and Amazon, through the app.

Jeff Bezos-Backed Chipper Cash to Begin Offering Crypto Trading

African cross-border payments startup Chipper Cash has raised $30 million in a Series B funding round. It was led by venture capital firm Ribbit Capital, with the participation of Bezos Expeditions, the personal VC fund of Amazon CEO Jeff Bezos.

Founded in 2018 by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled, the San Francisco-based Chipper Cash offers fee-free mobile P2P payment services. The services are available in seven African countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. The app allows users to send and receive money across Africa. “Enjoy free transfers and the lowest cross-border rates,” its website describes.

The Chipper Cash platform has three million users and processes about 80,000 transactions daily on average. CEO Serunjogi said that in June the app reached a monthly payments value of $100 million.

Chipper Cash plans to use the funds raised to provide additional products and services as well as expand into more countries. “On the product side, that entails offering more business payment solutions, crypto-currency trading options, and investment services,” Techcrunch reported Thursday and quoted Serunjogi as saying:

We’ve had demand from our users to offer other value services … like purchasing cryptocurrency assets and making investments in stocks.

Chipper Cash has already added on its website and app the option to buy and sell bitcoin in beta. Users can also invest in U.S. stocks through the app from Africa via a partnership with U.S. financial services company Drivewealth.

The stock product will launch in Nigeria first and then expand to other countries, Serunjogi explained, adding that Nigerians will “have the option to buy fractional stocks — Tesla shares, Apple shares or Amazon shares and others — through our app.”

Bezos is now the world’s richest person. Forbes reported in August that the Amazon CEO became the world’s first-ever person to amass a $200 billion fortune.

Serunjogi believes that the backing of well-known investors such as Jeff Bezos benefits Africa as a whole. He opined: “It’s a big deal when a world class investor like Bezos or Ribbit goes out of their sweet spot to a new area where they previously haven’t done investments … Ultimately, the winner of those things happening is the African tech ecosystem overall, as it will bring more investment from firms of that caliber to African startups.”

What do you think about Jeff Bezos-backed Chipper Cash? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



Source link

EDITOR’S CHOICE

Betting beyond bitcoin: Other cryptocurrencies are even hotter

Three Altcoins Are Set to Erupt This Month, According to Crypto Trader Tyler Swope

China Construction Bank Helps Complete Tests on New Blockchain Bond in Malaysia

Business software - Salesforce gets some Slack | Business

Layer-2 Ethereum scaling solution OMG Network gets acquired by a venture firm - The Block Crypto

LTC on the verge of a 10% breakdown – Confluence Detector

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 19,011.92
ethereum
Ethereum (ETH) $ 591.26
ripple
XRP (XRP) $ 0.597506
tether
Tether (USDT) $ 1.00
litecoin
Litecoin (LTC) $ 84.88
bitcoin-cash
Bitcoin Cash (BCH) $ 288.55
chainlink
Chainlink (LINK) $ 13.40
polkadot
Polkadot (DOT) $ 5.21
cardano
Cardano (ADA) $ 0.156074
binancecoin
Binance Coin (BNB) $ 29.70
stellar
Stellar (XLM) $ 0.175278
bitcoin-cash-sv
Bitcoin SV (BSV) $ 181.15
usd-coin
USD Coin (USDC) $ 1.00
eos
EOS (EOS) $ 3.01
monero
Monero (XMR) $ 131.17
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 18,987.24
tron
TRON (TRX) $ 0.030701
nem
NEM (XEM) $ 0.238826
tezos
Tezos (XTZ) $ 2.34
cdai
cDAI (CDAI) $ 0.020882
crypto-com-chain
Crypto.com Coin (CRO) $ 0.064268
okb
OKB (OKB) $ 5.17
filecoin
Filecoin (FIL) $ 30.12
leo-token
LEO Token (LEO) $ 1.37
cosmos
Cosmos (ATOM) $ 5.33
neo
NEO (NEO) $ 17.97
dai
Dai (DAI) $ 1.00
vechain
VeChain (VET) $ 0.016451
aave
Aave (AAVE) $ 87.43
dash
Dash (DASH) $ 104.88
iota
IOTA (MIOTA) $ 0.332956
huobi-token
Huobi Token (HT) $ 3.91
celsius-degree-token
Celsius Network (CEL) $ 2.39
yearn-finance
yearn.finance (YFI) $ 27,989.00
uniswap
Uniswap (UNI) $ 3.70
zcash
Zcash (ZEC) $ 73.17
waves
Waves (WAVES) $ 7.57
ethereum-classic
Ethereum Classic (ETC) $ 6.30
binance-usd
Binance USD (BUSD) $ 1.00
havven
Synthetix Network Token (SNX) $ 5.00
theta-token
Theta Network (THETA) $ 0.665129
compound-ether
cETH (CETH) $ 11.81
compound-governance-token
Compound (COMP) $ 143.45
omisego
OMG Network (OMG) $ 3.85
maker
Maker (MKR) $ 544.98
kusama
Kusama (KSM) $ 55.22
ontology
Ontology (ONT) $ 0.568181
compound-usd-coin
cUSDC (CUSDC) $ 0.021315
uma
UMA (UMA) $ 7.72
dogecoin
Dogecoin (DOGE) $ 0.003357