Zimbabwean Blockchain Startups Launch Service to Help Migrants Efficiently Move Funds Across Borders

Two Zimbabwean startups, Flexid and Uhuru Wallet, precocious launched a level that offers integer individuality and remittance services to migrants surviving and moving successful South Africa. The 2 startups hailed what they’ve described arsenic the “first cross-chain collaboration betwixt the 2 companies.”

Harnessing the Benefits of the Blockchain

The Zimbabwean blockchain startup Flex ID and the South Africa-based Whatsapp remittance platform, Uhuru Wallet, precocious said they person launched a level that offers “combined integer individuality and remittance services to millions of Zimbabwean immigrants successful South Africa.”

In a connection shared with Bitcoin.com News, the 2 startups hailed what they described arsenic the “first cross-chain collaboration betwixt the 2 companies.” As revealed successful the statement, Flex ID, which was co-founded by Victor Mapunga, harnesses the Algorand blockchain, portion the Uhuru Wallet is built connected the Stellar blockchain.

Remarking connected the 2 startups’ associated solution, Trust Jakarasi, the CEO and laminitis of Uhuru Wallet, said:

We are excited to spouse with FlexID to connection our customers a much streamlined and unafraid remittance experience. By combining our strengths successful integer individuality and remittance services, we tin amended service the needs of Zimbabwean immigrants successful South Africa.

Some of the challenges which the 2 startups are hoping to flooded via the caller concern see “providing a seamless and unafraid remittance experience” for Zimbabwean immigrants. Through this moving arrangement, the startups besides anticipation to grip oregon flooded the occupation of precocious sending fees, constricted entree to ceremonial fiscal services, arsenic good arsenic individuality verification issues.

Limited Access to Financial Services

Mapunga, successful the meantime, spoke of the virtues of blockchain arsenic good arsenic the value of deploying the technology.

“By leveraging blockchain technology, we tin supply a unafraid and businesslike mode for users to verify their individuality and entree fiscal services, nary substance wherever they are,” the CEO of Flex ID insisted.

Although South Africa is ranked among the biggest senders of remittances successful sub-Saharan Africa, it costs anyplace betwixt 5% and 20% to nonstop wealth to Zimbabwe erstwhile utilizing registered wealth transportation agencies. This, successful turn, forces galore Zimbabwean migrants to usage alternatives specified arsenic couriers oregon unregistered remittance platforms.

The emergence of a blockchain-based solution widens options for Zimbabwe migrants and volition apt assistance thrust down the mean outgo of remitting funds.

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