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That Akon is a crypto aficionado is not a hidden fact, and now Akoin, the cryptocurrency developed by the world-renowned pop star is all set to list on the premier exchange Bittrex. The cryptocurrency has been developed to provide access for African entrepreneurs as well as improve the prospects of social opportunities.
Bittrex, as is known, is the world’s biggest cryptocurrency exchange which has daily transaction volumes of $41 million. It is one out of the 14 exchanges globally that is rated by Coinmetric’s Trusted volume framework and it has seemingly cleared all three of the firm’s test metrics for correlation, volume, and qualitative analysis.
Akoin is based on the Stellar Network and will launch on Bittrex on November 11th which will allow users to trade and transact using the token. The project is committed to bringing digital currency in a full-fledged manner to Africa which is currently suffering from a rough patch of the poor economy, over-inflated fiat currency, and a weak performing financial sector. This is why the introduction of the deposit will emerge as the necessary injection into it as otherwise, the citizens were not able to access financial services.
The project’s main agenda is to improve social opportunities and interconnectivity for the millions who live in the remotest areas of Africa who do not possess network connectivity and can eventually become a part of the global economy. The project might take its first step in Senegal after which it will be expanded across Africa. As per the release the Akoin ecosystem will provide the token holders with access to a wide range of decentralized apps and tools so that the entrepreneurs can connect and engage. It will give them the opportunity to extend their businesses in different regions in the continent thereby spreading a positive impact.
Jon Karas, the president and co-founder of Akoin, believes that this is very important for the sake of business:
“Having Akoin listed on a top exchange creates global awareness and liquidity for the Akoin token while bringing us even closer to realizing our vision of bringing greater opportunity and social connectedness to people across Africa who want to build, grow and develop their own businesses.”
Tom Albright, CEO of Bittrex Global, also shared the same sentiment:
“Leveraging financial tools to help those without access to banking and credit is still one of the biggest unrealized promises from the blockchain. We’re incredibly excited about the long-awaited launch of Akoin.”
Akoin is an ambitious project by Akon and in order to steer it upwards and accentuate its performance further on it already has amassed major global partnerships that will bring massive utility to the token. Earlier this year, there was an announcement that the native token will be the main currency as well as the central payment platform for the upcoming Mwale Medical and Technology City (MMTC) in western Kenya. It is also ringing in plans to establish UN-backed Akoin Effect opportunity hubs allowing the youth to earn while they learn. The new move will focus on learning based on blockchain and AI-based education.