KuBitX Creates Africa’s first usable Stable Coin among other milestones.
KuBiX blockchain project is really progressing as their hard work is paying off. Over the few past weeks, KuBiX has been working hard to raise some operational funds that will help them go into full force with their marketing and scaling plans They have promised to take the project into the mainstream.
KuBiX has been up and doing in making sure that their supporters gets the best value for their efforts. “We understand one of the ways to achieve this is to bring more utility and relevance to our native token (KBX-kubitCoin) .Business decisions are ongoing regarding on how to can be listed , used both in cryptocurrency and the mainstream. Now our focus is on the issuance of Africa’s first usable stable coin.
Naira Stable Coin (NGNX)0000000
Stable coins. As we have heard , stable coin has been linked to scandals or used for trading against cryptocurrency generally. But we believe with the emergence of this wonderful technological innovation of Blockchain can be utilised in facilitating real life merchant payments, over the boarder remittances and instant currency swaps which was the main reason behind the creation of NGNX, Africa’s first usable stable coin(a digital asset pegged 1:1 to the Nigerian.
NGNX, why we started off with it
With the biggest economy, highest population , highest youth population and highest mobile device users in Africa, Nigeria’s teaming youth population are the strong adopters of cryptocurrency, this can be seen on the volume of Bitcoin and other crypto Nigerians have traded on monthly basis. Aside taking the project into the mainstream for people to accept certain applications of Blockchain technology, KuBitX is also facilitating further adoption and acceptance of the tech with the creation of this Naira pegged asset and also making it to mature better and faster in our own way. Our NGNX will be easy to swap in real time with other pegged tokens we plan to create as soon as all the business and audit procedures are put in place for the process.
Today, people who own NGNX can now use it on KuBitX PROW:
1. To Send and receive funds from their peers in any part of the globe via XLM swap pathways even as more pathways are being created with other African countries.
2. Pay for airtime, internet, entertainment, utility and other services for over 3000 merchants in Africa’s largest economy.
3.To exchange for other kinds of assets listed on the Exchange by funding their KuBiiX exchange account.
Fiat Payment Gateway Integration on Exchange
Since KuBitX is good at helping adoption and fostering inclusion, we have concluded and made a decision to integrate a fiat payment gateway to the exchange that will make way for easy investment in flourishing assets and projects they desire without losing time and money as a result of the volatile nature of the high frequency trading environment being a major challenge crypto adopters in Africa and other emerging markets have in getting the top crypto (BTC, ETH, XLM etc) or the fact that they usually buy them at a premium, and often with steep transaction fees. Our fiat gateway also ensures People can buy assets closer to the real price without paying for the steep 2–3% fees being offered by the likes of MasterCard or Visa through the fiat gateway integration.
Conversion of currency on KuBitX Exchange
We have included currency conversion to the settings so that our users and clients can decide to see the prices of assets as well as their wallet balances in any of the currencies we have made available most especially the NGN, KES, ZAR, UGX, USD, GBP, RUB, EUR and CAD For the sake of ease and convenience of portfolio management Exchange Liquidity.
There are noticeable reduction of the available trading pairs on the exchange as the available pairs are coming alive. In the some weeks to come, there will be more liquidity for the projects listed on the exchange as we work hard to put it in place. We do not believe in listing every project out there, we only want to list the most viable ones we can access. As our operations stabilise even further, we will be conducting community voting events and also initial exchange offerings to bring on the platform, high quality projects for our esteemed users.
Bonus referrals and Loyalty Discounts for payments using KBX
Giving back to the community is our utmost interest and we cannot emphasize this enough. For this reason we will be giving back money to our users whenever they or their referrals pay for their bills on KuBitX PROW. The referrer gets 5% of the transaction fees when they pay for a bill and the referrer is also eligible to earning 3% of the transaction fee of his/her downline’s first referral. People will always pay bills so we believe this is a good way for mainstream adopters of our KuBitX PROW to earn passive income.
Apart form this, there is also discounted fees when users pay their bills through the PROW using our KBX tokens. This helps in great deal to users in adding more utility to the token.
Work is also ongoing to allow our esteemed community to be able to stake their KBX tokens for periodic rewards. More information will be provided on this at a future date.
One more thing (One Big Partnership)
Works are on to sign a big deal to co-create something that can change the way funds are moved across Africa by people and especially mainstream businesses.
This partnership is a great one to us and we believe it is puting us further in an influential place within Africa and beyond as far as Blockchain innovations is concerned. More details will be shared on this later.
The maiden Blockchain Womem Conference 2019
The maiden Blockchain Women Conference held in Lagos was well attended by women across Africa Nigeria . The conference was also attended by the likes of Eric Annan (KuBitX CEO) and Reggie Middleton (Veritaseum CEO). At the event, KuBitX CEO pleaded with Africans to lremove the scarcity mentality and jointly build strong and meaningful blockchain projects so that in the next few years, Africans can look at themselves as Blockchain solutions co-creators and not just consumers as has been the typical trend with past major technology waves.
When wondering about why KuBitX was giving so many high level features out so cheaply, Eric Annan has this to say:
We are poised to bringing value to the entire continent, because Africans have been faced with exorbitant charges, poor customer support including random unexplained closure of accounts by some platforms. Our focus are more about the people and the value we can bring to them, hence we will continue to strive to make it easier for the continent to have easier access to useful and reputable digital assets in the coming months. We plan to do this with features such as card payment and direct bank deposit. This is only possible As a result of our commitment to strategic synergies and partnerships with the mainstream , all this are now made possible.
Tnanks for supporting us at KuBitX as we work to bring you value.
Credits: KuBitX, Blockchain News report.JOIN OUR COMMUNITY