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Cryptocurrency

  • Ekasi Bucks to launch ‘world’s first crypto-mall, bitcoin taxis for townships’

    Just months after a failed initial coin offering (ICO), South African blockchain consultancy Ekasi Bucks plans to launch what it calls "the world's first crypto-mall and on-demand transport service for townships". The two services will be unveiled this Monday (21 May) by the startup in three launches in Gauteng, namely in Mabopane, Soshanguve and Soweto. The launch comes after the Gauteng based startup last year sought to raise R50-million in an ICO to fund a blockchain-based rewards programme for township residents that buy from certain affiliated township businesses. But the ICO raised just R500 000, most of which was returned to investors. Read more: SA’s Ekasi Bucks ICO falls short of R50m target,...

  • You won’t be able to draw dollars – crypto exchange Golix tells Zim customers

    Five days since the Zimbabwe central bank issued a circular prohibiting banks from processing transactions linked to cryptocurrencies, crypto exchange Golix today informed Zimbabwean customers that they would not be able to use the exchange to draw currency like US dollars or Euros. In a blog post addressed to its customers today, Golix said "unless the central bank changes its position prior to the expiry of the 60-day window, you will not be able to send or receive fiat currencies for cryptocurrency trades". It follows the launch last month by the Harare-based exchange launched of the country's first Bitcoin ATM. As of Q4 2017, the...

  • The Sun Exchange in $25m ICO to allow investors to earn income off solar projects

    SA startup The Sun Exchange, a blockchain-based solar micro-leasing marketplace, will launch an initial coin offering (ICO) next week to allow investors to earn an income off small solar projects. It aims to raise $25-million in the ICO. The ICO will also help seed, what the startup calls "the world’s first crowd-sourced default insurance fund for clean energy projects in emerging markets". The Sun Exchange Solar Project Insurance Fund (SPIF) will be established shortly after the close of the token sale. The SPIF will help safeguard Sun Exchange solar cell owners against costs associated with potential solar project defaults. In a press release today the startup said...

  • Ex-Visa man, Vio Digital founder plans US move if remittances app takes off

    Johanneburg-based Praga Govender, the man behind a new blockchain app aimed at lowering the cost of remittance payments to Africa, says he plans to relocate to the US should his fintech Vio Digital take off. Govender, a former Visa products manager, founded the startup in January. While the app is currently available for download on the Google Play Store, it is expected to launch first in four countries -- Nigeria, Ghana, Kenya and Cameroon -- in May, before further countries are added While he is currently working from his home in Bryanstan, Johannesburg, Govender says should the company take off he may consider moving to...

  • Krypteum ICO for ‘world’s first AI investment cryptocurrency’ nets just $1m

    SA startup Krypteum has raised $1-million in an initial coin offering (ICO) which ended last month and that aims to develop what it claims is the world’s first artificial intelligence (AI) powered investment cryptocurrency. However, the amount is far less than the $4-million Krypteum hoped to raise, its founder Priven Reddy said today. The month-long ICO for Durban-based Krypteum ended on 31 March and the startup made available 400 000 tokens -- which in its white paper is valued at $112 each. Reddy, who is also the CEO of SA mobile app development group Kagiso Interactive which owns Krypteum, told Ventureburn today in a call from Paris that...

  • Bitcoin, blockchain rules must evolve as sector matures – cryptocurrency expert

    Regulations around initial coin offerings (ICOs) and cryptocurrencies including Bitcoin should be flexible enough to enable them to be regularly updated as regulators gain a better understanding for the sector. So says cryptocurrency expert David Orban. Regulations on cryptocurrencies and ICOs differ from country to country, with some like Korea and China having banned ICOs and others such as Russia and France planning to bring out regulations on cryptocurrency (see this Bloomberg story published yesterday). Bitcoin and other tokens are not regulated in South Africa. Speaking by telephone from an event held today the Cape Town International Convention Centre (CTICC) by SA fintech startup...

  • Gron Digital raises $1.2m in pre-sale, launches first of four ICO rounds

    "Fantastic" -- that is how Gron Digital CEO Tebogo Makamo describes the performance of his startup's pre-initial coin offering (pre-ICO), in which the company was able to raise $1.2-million from 1768 contributors. The first round of the ICO kicked off yesterday (15 March). Gron Digital, through its blockchain platform, aims to become an industry standard in making the gambling sector more transparent. The startup launched its  pre-ICO in January and was able to reach its soft cap of 1200 Ethereum coins. The startup plans to run four ICO rounds, with the first to run from 15 to 29 March. The second round will kick off on 29...

  • Wealth Migrate delays real estate ICO ‘to ensure all ducks are in a row’

    Global real estate platform Wealth Migrate has opted to delay the launch of the company's first initial coin offering (ICO) by three weeks to ensure that the company abides by all the necessary financial regulations, says the company's CEO Scott Picken. Commenting via email to Ventureburn yesterday on why the South African company did not launch the ICO for its WealthE token yesterday (14 March) as expected, Picken (pictured above) said the crowd sale is now planned to kick off on 4 April. He added that the token’s presale is currently underway through a manual process and that so far $2.5-million has been raised...

  • Luno still working with Malaysian bank to get account open again, resume trading

    SA bitcoin exchange Luno is still working with bank authorities in Malaysia to get its bank account there up and running again, after the country's tax authority last month took the decision to unfreeze its account the company's bank account. The tax authority in January froze the startup's Malaysia bank account with Maybank, after it launched a probe into the cryptocurrency company's activities in Malaysia. The account has since been unfrozen, but Maybank has yet to reopen it, so that Luno can begin trading bitcoin again in Malaysia. Read more: SA startup Luno’s Malaysian bank account still frozen as tax probe continues Responding to Ventureburn...

  • Wealth Migrate set to launch public sale of WealthE coin on 14 March

    Global real estate platform Wealth Migrate is set to launch the public sale of its WealthE coin on 14 March. The South African company launched a token presale of WealthE in December 2017. Read more: Wealth Migrate launches pretoken sale to ‘democratise investing’ "We are in the process of finalising our presale in order to ensure that we have all the safety precautions in place in terms of security for contributors and plan to launch the public sale portion of the token sale on March 14th," Wealth Migrate CEO Scott Picken told Ventureburn in an email. "As you have published before, ensuring that...