Africa’s fast raising Blockchain Technology Company, Bitfxt Technology, recently secured a $15M in funding from a UK syndicate of Hedge Funds and UK company, Payitup Clearinghouse Ltd (UK).
Blockchain Takes a Leap in Africa Through Bitfxt
Bitfxt Technology based in Nigeria got a combined $15M in funding from a UK syndicate of Hedge Funds and UK based Zimbabwean Company, Payitup Clearinghouse Ltd (UK). Bitfxt is known for pioneering various proprietary technology outfits in Africa through decentralization and also leading the way to be the first in many aspects in bringing technology home.
Since inception, the technology firm has created various networks within the blockchain space across Africa with the launch of various partnerships with local community and outside of Africa, incorporating technology as a social and economic development initiative led by current administration and to complement their efforts to diversify economic and financial inclusion via local content development initiative.
What Payitup Clearinghouse Ltd Will Bring To The Table
Payitup Clearinghouse Ltd (UK), will act as a clearinghouse across all the markets in Africa and Europe through its affiliates and networks for immediate settlements.
UK based Zimbabwean company Payitup which recently got a US$13 million funding from UK’s Investment Fund, Thawer Fund Management, LLC has acquired a significant stake in one of the biggest blockchain companies in Africa, Bitfxt Technology.
Payitup Clearinghouse Ltd is an active company incorporated on 18 September 2019 with the registered office located in London, Greater London. Payitup Clearinghouse Ltd has been running for 4 months.
Recently, Bitfxt launched the first of its kind cryptocurrency powered ATM cards that can be used anywhere in the world, a global multi utility payment system known as Boundless Pay among others it has also set standards in terms of blockchain and general ICT services.
Bitfxt Technologies and Payitup Clearing House
The acquired funds will help in the development of marking efforts through its subsidiary Boundless Pay as well as development of proprietary infrastructure to compliment existing financial networks. Users of Boundless Pay will have options of settling in $US or Naira through Bitfxt’s portal and also earn in $US locally.
Furthermore, Bitfxt has also concluded an Agreement with the syndicate to extend a $125M Revolving Margin Facility for all its traders to leverage their position for a higher gain. Overtime, Bitfxt has made significant progress as a foremost blockchain firm in Nigeria, Africa and to the rest of the world.
This funding round led by foreign institutions is a testament to Bitfxt’s growth which is potentially cultivated by its team that Bitfxt Technology brings to the Blockchain and Cryptocurrency space across Africa.
What Is Bitfxt?
Bitfxt coin (BXT) is a ‘decentralized cryptocurrency built with a proof of stake algorithm. BXT Coin is the store of value in the Bitfxt ecosystem — an alliance of entities and technologies built on a world-class hardware infrastructure, proprietary blockchain technology, a decentralized, user friendly wallet system and a regulation-friendly global network of KYC authenticated users.