Japanese Company Sompo Announced Collaboration with BitPesa Africa Cryptocurrency Platform — Coinzdaily
On November 9, the Japanese insurance company Sompo published an official press release announcing its collaboration with the pan-African digital payment platform BTC Africa, also known as BitPesa.
According to the data presented, on November 8, Sompo Holdings Inc. acquired 10% of BitPesa shares in the amount of $ 5 million. We remind you that BitPesa is an African Bitcoin startup based in 2013. Initially, the platform was focused on cryptocurrency money transfers between Kenya and the UK.
In a published statement, Sompo said that the partnership with BitPesa is primarily focused on the development of global digital money transfers, adding:
“Using BitPesa technology, developed through various experiments in the field of money transfer and payments, we will expand our presence in the international market for money transfer services and consider the application of this technology for the insurance industry.”
Also, the company said that they intend to use the encryption technology of traditional currencies with cryptocurrency support, which is used by the BitPesa platform. It is worth noting that the platform actively uses technology to reduce the time and financial costs of conducting global transfers and transactions. Sompo is confident that the technology will optimize the company’s performance, covering a wider customer base using BitPesa’s international interface.
In its official press release, the company paid particular attention to the growing role of global money transfers, which allows for accelerated distribution of goods, data, services around the world.