A pan-African cryptocurrency exchange, Kubitx, is live now after its successful beta test. This trading platform is registered in Malta. After Kubitx went live, it also released its hybrid OTC (Over The Counter) wallet. The users can now purchase and sell cryptos (including Bitcoin and Bitcoin Cash) and at the same time pay bills with the new Kubitx OTC wallet.
Which Digital Assets will be Listed on Kubitx?
CEO of Kubitx, Eric Annan, said that initially twenty-two digital assets will be listed across 4 markets – Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and an in-house digital coin named KuBitX (KBX). Some of the popular tokens that will be available for trade during the launch are Zcash, Dash, Ripple, and Doge.
More Details about Kubitx Launch
Eric Annan has said that KYC (Know Your Customer) details are required to be completed by those users who want to withdraw US$10,000 or more. He went on to inform that till now one hundred people have signed up.
Kubitz cryptocurrency exchange will initially allow traders to exchange cryptocurrencies with local fiat currency of Nigeria (the largest Bitcoin market of Africa), Naira. They can also withdraw them to their bank accounts directly. These crypto exchange services will be made available to other African countries in the future.
In an online statement, Kubitx CEO Eric Annan said that “The registration on the exchange is designed to be very easy and user-friendly as we have made the exchange simple for everyday people.”
He went on to claim that Kubitx exchange has achieved over 10 million transactions per second. Annan said that they have “implemented several tools using machine learning such as anti-market manipulation and trade surveillance to ensure that the exchange is regulatory compliant.”
Kubitx’s Hybrid OTC Wallet
Kubitx has also launched its hybrid OTC wallet. Reports say this wallet has been launched as an Android mobile app, meant for the starters. In a statement, Kubitx cryptocurrency agency said that the OTC wallet has been launched for facilitating “financial inclusion in Africa using blockchain technology”.
The investors can now trade, send, or receive digital currencies with the help of this hybrid OTC wallet. In fact, the hybrid nature also allows the users to make payments in either cryptocurrencies or through the use of credit/debit cards.
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