ONE of Zimbabwe’s leading cryptocurrencies exchanges, Golix, has partnered with Blockstarters, South Africa’s crypto/blockchain hub and incubator, in a move that will see the exchange tapping into a new highly economic active market.
BY MTHANDAZO NYONI
In a statement, Golix director of communications, Nhlalwenhle Ngwenya, said the strategic move was part of Golix’s initiatives to expand its services to the rest of the continent.
He said entering a new market could be a challenge, hence the incubator hub would offer Golix a chance to smoothly integrate into the South African cryptocurrencies space and meet with like-minded startups.
Golix’s product manager, Yeukai Kusangaya, said this was a welcome development.
“This is a positive and a promising move. The crypto/blockchain hub and incubator is set to be a huge learning platform for Golix in an all new different environments.
During this period, the hub will be more of a compass to us as navigate into a new market factoring in the cost of exploring new depths like this,” she said.
“I also believe that South Africa is the best place because of its vibrant economy, which like Zimbabwe, has also interest in cryptocurrencies.”
Blockstarters co-founder, Kreaan Singh said as entrepreneurs they created Blockstarters to bring together the very best in the crypto and blockchain industry.
“We want startups to grow together, and to inspire one another to create innovative solutions for Africa. How better to do this than to bring everyone under one roof? We the Blockstarters founders have been involved in the industry since 2013, and now live much of our lifestyles off cryptocurrencies. Companies like Golix will one day help millions of other people to do the same,” Singh said.
Currently, they are more than 3 million Zimbabweans estimated to be based in South Africa.
Annual they remit millions back home. Considering that, as of the moment, Ngwenya said Golix does not support the rand, being part of the hub is likely to see the exchange introducing the currency.
Unlike the Zimbabwean government’s cautious stance towards cryptocurrencies, South Africa had adopted a more proactive approach, he said.
The crypto/blockchain hub and incubator cushions start-up firms, against challenges that may stifle them from realising their full potential by providing a conducive environment, which comprises of relevant blockchain fields and potential capital ventures.