Akoin, a cryptocurrency project from famous singer Akon, has joined up with blockchain financial infrastructure company Delchain.
“Bahamas-based digital asset management leader Delchain, an affiliate of Deltec, has provided strategic advisory services and expertise in connection with Akoin’s token generation event on a top tier exchange, scheduled for Q2 of 2020,” Akoin president and co-founder Jon Karas said in an interview
Constructed on Stellar’s blockchain, Akon’s crypto endeavor aims to provide utility tokens for atomic swaps, allowing parties to transition across various digital assets and fiat currencies, among other things, according to a copy of the project’s white paper shared to the public.
Delchain is reportedly associated with Deltec Bank and Trust Limited.
Delchain adds depth in a number of areas for Akoin. The outfit brings “Industry best practices, financial services, and top tier relationships related to digital asset management, token generation events, and token custody management and services,” Karas explained.
“We decided to partner with Delchain, Delchain being one of the most prolific financial facilities in the crypto world,” Akon said in a statement provided to Cointelegraph.
“When we met with them it was more so about allowing them to understand what we are trying to do in Africa, the kind of challenges that they will be facing, that most banks and financial facilities aren’t willing to take at the moment.”
With this collaboration, Akoin hopes to see a better future.