Belfrics Global, a Malaysia based, bitcoin technology provider has launched its Bitcoin Exchange in Kenya to allow traders and Bitcoin users to trade at a much lower cost. The cost of transactions while using Belfrics will be 5 percent.
Belfrics Kenya will offer exchange services in addition to other digital services revolving around the Blockchain.The company also provides a POS system and payment gateway for merchants to accept bitcoins as payment, enhancing their scope of business.
The rise of this digital cryptocurrency and the underlying technology, the Blockchain, has also brought with it many investors and companies looking at how they can expand their footprint in this space.
According to the company CEO and Chairman, Praveenkumar Vijayakumar, the company has received very positive support in the last couple months it has been testing its services in Kenya. This has necessitated its official launch to further expand its growth in the country and the region.
According to the CEO, Belfrics intends to reach and offer its services to between 100, 000 to 1, 000, 000 people in the next one to one and half years.
Belfrics Global is also offering its initial coin offering (ICO) as an investment vehicle. The launch will be on September 8th, 2017 when it launches the Belfrics Blockchain. According to the company. Belfrics Blockchain will allow users to be identified, thereby enabling the tracking of transactions on the platform.
Belfrics already has operational offices in Singapore, India, Indonesia, Hong Kong, China and Dubai and now has added Kenya to the list.
Blockchain offers a big opportunity for money transfer services by bringing the costs down to only a fraction of the current costs. Belfrics Global intends to leverage this huge gap in the coming months.
The company also intends to expand its operations to Nigeria and Ghana.