Virtual Crypto Technologies sees a lot of untapped potential in southern Africa.
The Israeli developer of software and hardware for buying and selling cryptocurrencies using such systems as ATMs and mobile devices signed a distribution agreement with another company that took its name via a licensing agreement, Virtual Crypto SA, to bring blockchain to southern Africa. The distribution region includes Botswana, South Africa, Namibia and 13 other nations, according to the companies’ press release.
Alon Dayan, CEO of Virtual Crypto Technologies, said the agreement will help his company expand beyond the Middle East into “a strong emerging market” where cryptocurrency is becoming increasingly popular.
“Cryptocurrency provides investors and businesses with an opportunity to diversify their portfolio,” he said in the press release. “In addition, Virtual Crypto’s solutions offer businesses and consumers a secure payment alternative with real-time availability and broad accessibility.”