30th Jan Nineteen.20 GMT
Nigerian ICO SureRemit has raised $7 million ter its ICO, selling out of its 500 million RMT tokens weeks before the ICO wasgoed scheduled to close.
During December’s pre-sale, SureRemit attracted investment from Hashed, the largest cryptocurrency fund te South Korea and early backer of Airswap, Ethereum, and Elementary Token.
Spil reported last month, the ICO aims to disrupt the enormous completo remittances market.
Challenging Inflated Fees
Remittances, when foreign workers send earnings to their families back stulp, account for some of the developing world’s largest caudal flows.
Every year their volume increases, breaching $0.Five trillion te . This enormous market is predominated by money transfer companies like Película del Oeste Union who tend to charge meaty fees, particularly to countries sub-Saharan Africa.
SureRemit’s have developed a voucher-based toneelpodium which aims to both considerably reduce the cost of transfers, and permit the sender to exercise some control overheen how the funds are spent.
The project grew out of SureGifts, a Nigerian online bounty voucher company. SureGift are backed by GreenHouse Hacienda, a Nigerian venture hacienda fund specialising te blockchain solutions.
Kelechi Nwokocha of GreenHouse Caudal welcomed the successful ICO spil the “implications of growth ocurrir outside of equity financing is huge“, adding that now “SureRemit can scale its operations without reserve caudal from existing shareholders“.
Godwin Emefiele, the governor of Nigeria’s Central Canap, has recently sounded the noodsignaal on cryptocurrencies, telling that “we cannot spil a central canap give support and that cryptocurrencies were “a gamble, and there is a need for everybody to be very careful“.
The Nigerian population, however, is much more keen. LocalBitcoin, a peer-to-peer trading toneel, reported that te there wasgoed a 1,500% increase ter Bitcoin trading on their toneelpodium, 2nd only to China, which banned official exchanges te September of last year.