This archive report was first published on 20 May 2020.
On May 20, 2020, Kenyan startup BitLipa launched a groundbreaking peer-to-peer (P2P) borderless remittances network, revolutionizing the way people send money across the globe.
BitLipa, a cryptocurrency payment gateway for merchants worldwide, aims to provide alternative payment options for customers and businesses. The platform offers a range of solutions, including e-commerce plugins and payment processing APIs, making it easier for businesses to accept cryptocurrency payments.
According to BitLipa's Co-founder Apollo Eric, the startup has seen a significant surge in downloads since its launch in 2019, with over 2,800 active daily users. Eric's goal is to reach one million users on the platform by the end of August 2020.
BitLipa seeks to address the limited availability of cryptocurrency startups in Kenya and beyond. Eric noted, "The gap in the market reveals the lack of a practical use-case of blockchain technology that ordinary people could relate to."
"We thought if we could build a decentralised finance application that levels the ground for everyone. It will allow ordinary people to send their money for free, both locally and across borders, then we will have killed two birds in one strike," Eric added.
BitLipa has secured a partnership with high-profile Securities to provide Bitcoin liquidity, enabling customers to reach new markets instantly and reap benefits without hidden costs. The platform has also established good working relationships with local banks to provide banking services and fiat liquidity.
