African Bitcoin, amazon bitcoin, chipper cash bitcoin, chipper cash crypto trading, chipper cash cryptocurrency trading, jeff bezos bitcoin, jeff bezos chipper cash

An African company backed by Amazon CEO Jeff Bezos, Chipper Cash, has raised $30 million and is launching a cryptocurrency trading service due to high demand for cryptocurrencies, including bitcoin. Users of Chipper Cash will be able to buy and sell cryptocurrencies as well as U.S. stocks, such as Tesla, Apple, and Amazon, through the app.

Jeff Bezos-Backed Chipper Cash to Begin Offering Crypto Trading

African cross-border payments startup Chipper Cash has raised $30 million in a Series B funding round. It was led by venture capital firm Ribbit Capital, with the participation of Bezos Expeditions, the personal VC fund of Amazon CEO Jeff Bezos.

Founded in 2018 by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled, the San Francisco-based Chipper Cash offers fee-free mobile P2P payment services. The services are available in seven African countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. The app allows users to send and receive money across Africa. “Enjoy free transfers and the lowest cross-border rates,†its website describes.

The Chipper Cash platform has three million users and processes about 80,000 transactions daily on average. CEO Serunjogi said that in June the app reached a monthly payments value of $100 million.

Chipper Cash plans to use the funds raised to provide additional products and services as well as expand into more countries. “On the product side, that entails offering more business payment solutions, crypto-currency trading options, and investment services,†Techcrunch reported Thursday and quoted Serunjogi as saying:

Chipper Cash has already added on its website and app the option to buy and sell bitcoin in beta. Users can also invest in U.S. stocks through the app from Africa via a partnership with U.S. financial services company Drivewealth.

The stock product will launch in Nigeria first and then expand to other countries, Serunjogi explained, adding that Nigerians will “have the option to buy fractional stocks — Tesla shares, Apple shares or Amazon shares and others — through our app.â€

Bezos is now the world’s richest person. Forbes reported in August that the Amazon CEO became the world’s first-ever person to amass a $200 billion fortune.

Serunjogi believes that the backing of well-known investors such as Jeff Bezos benefits Africa as a whole. He opined: “It’s a big deal when a world class investor like Bezos or Ribbit goes out of their sweet spot to a new area where they previously haven’t done investments … Ultimately, the winner of those things happening is the African tech ecosystem overall, as it will bring more investment from firms of that caliber to African startups.â€

What do you think about Jeff Bezos-backed Chipper Cash? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Game of Thrones Star Maisie Williams Wants to Know if She Should Buy Bitcoin

Game of Thrones and The New Mutants actress Maisie Williams has started a poll on Twitter seeking opinions on whether she should invest in bitcoin. Among those who replied was Spacex and Tesla CEO Elon Musk who wrote: “Toss a bitcoin to your Witcher.†Should Maisie Williams Go Long on Bitcoin? As the price of […]

Xem chi tiết: Game of Thrones Star Maisie Williams Wants to Know if She Should Buy Bitcoin

Concordium Debuts its Business-Oriented Blockchain Mainnet

After years of development, Concordium has unveiled its permissionless blockchain and MVP that is designed to meet the needs of enterprises by delivering transparency and governance, all with an orientation towards protecting user privacy. Identity-Centric Network to Promote Broader Business Adoption Although blockchain’s novel characteristics are not in dispute, corporate adoption of distributed ledger technology […]

Xem chi tiết: Concordium Debuts its Business-Oriented Blockchain Mainnet

Doge in Brooklyn: A Local Apparel Store Starts Accepting the Famed Crypto

On the heels of the SpaceX announcement that the company accepted dogecoin as payment, an apparel store on Brooklyn’s colorful Flatbush Avenue took the jump as well into the deep, cold Doge waters. Brick-and-Mortar Is Another Brick in the Crypto Adoption Wall Crypto adoption has been widely and thoroughly discussed in the media and on […]

Xem chi tiết: Doge in Brooklyn: A Local Apparel Store Starts Accepting the Famed Crypto

Iran’s President Wants Crypto ‘Laws and Instructions’ Implemented as Soon as Possible

Iranian president Hassan Rouhani discussed cryptocurrencies at the most recent meeting of the government’s Economic Coordination Board and told participants that regulatory policy is needed to protect consumers. Rouhani believes the Iranian government should “communicate the necessary laws and instructions†as soon as possible so dishonorable crypto businesses are avoided. Regulation Necessary to Keep ‘Unprofessional’ […]

Xem chi tiết: Iran’s President Wants Crypto ‘Laws and Instructions’ Implemented as Soon as Possible

South African Court Submissions Expose Lies and Deceptive Tactics Used to Perpetuate MTI Bitcoin Ponzi Scheme

New submissions by a South African regulator, the Financial Sector Conduct Authority (FSCA) and liquidators have exposed the web of lies and deceptive tactics that were used by Mirror Trading International (MTI) CEO Johann Steynberg and others to perpetuate the Ponzi scheme. Undeclared Losses In its report filed with the South African court, the regulator […]

Xem chi tiết: South African Court Submissions Expose Lies and Deceptive Tactics Used to Perpetuate MTI Bitcoin Ponzi Scheme

Denmark to Revise Tax Law to Target Cryptocurrencies

The Danish tax ministry is reportedly mulling over revising the country’s tax law to deal with the challenges posed by cryptocurrencies. Denmark’s tax authority is concerned about the rising risk of fraud and widespread filing errors involving cryptocurrencies. Denmark to Revamp Tax Law to Deal With Cryptocurrency Denmark is considering revamping its tax code in […]

Xem chi tiết: Denmark to Revise Tax Law to Target Cryptocurrencies

Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut Down

An official notice stemming from the Changji prefecture government in Xinjiang details that officials from the Zhundong Economic-Technological Development Park must instruct bitcoin miners to shut down. China’s province of Xinjiang is a highly concentrated region of bitcoin miners and bitcoin activities at the park must cease by June 9, according to the document. Nevertheless, […]

Xem chi tiết: Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut Down

$160 Billion Asset Manager Entering Crypto Market in Collaboration With Nasdaq

An asset management firm with nearly $160 billion in assets under management, Victory Capital, has announced that it is entering the cryptocurrency market. The firm has established exclusive agreements with Nasdaq and asset manager Hashdex. Asset Management Firm Entering Crypto Market Victory Capital Holdings Inc. (Nasdaq: VCTR) unveiled its plans to enter the cryptocurrency market […]

Xem chi tiết: $160 Billion Asset Manager Entering Crypto Market in Collaboration With Nasdaq

Coinbase Says Interest From Pension Funds and Hedge Funds Has Skyrocketed, Institutional Holdings Soar 170%

Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials

Mystery Whale Returns by Moving $35 Million — Miner Transfers 1,000 ‘Sleeping Bitcoins’ from 2010

The First DeFi & NFT Social Media Project, Torum Announces NFT Launchpad

Uganda Museum Collaborates With Software Development Firm to Create NFTs for Display on Binance Marketplace

Warren Buffett’s Berkshire Hathaway Invests in Bitcoin-Friendly Digital Bank

Commodity Strategist Mike McGlone Says $40K BTC Target ‘More Likely’ Than $20K

Crypto Payments App Bottlepay Is Now Available Across Europe