Nairobi, Kenya--(Newsfile Corp. - September 13, 2022) - Pesabase's newly unveiled blockchain remittance solution allows its beneficiaries to receive their converted native currency directly on their mobile devices at a fraction of the cost.
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Pesabase and the newly released $PESA token's founder and CEO Phil Somh, an African native turned successful Australian entrepreneur, has been building infrastructure with major Teleco companies and banks in Africa for 5+ years with 2 million dollars of seed funding. He unveiled a blockchain solution at a press conference last Friday that is set to disrupt one of the biggest innovation starved markets in the continent of Africa - remittance.
Every year African markets witness $51 billion of remittance sent and received and the users have been bound to 20-40% fees for decades. Pesabase aims to initiate a revolutionary step to banking the unbanked Africans who are still accustomed to using their SIM card as bank accounts.
Pesabase has achieved this technological leap by forging partnerships with large Teleco companies across the continent who act as de facto banks in lieu of a standardized banking system. Their innovative proprietary smart contract converts remittance from pUSD, (Pesabase stable coin) to local currency for the recipient. Pesabase also has forged deals with mini-banks across the...
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