JOHANNESBURG, SOUTH AFRICA/ACCESSWIRE/July 6, 2022/ ENNOVA, the fastest growing blockchain services company in South Africa, announces that it is expanding the AUC Project ecosystem.
African countries actively used mobile money as a measure to improve financial inclusion, and as mobile money lowered the threshold for financial use and increased access, financial inclusion in Africa doubled from 23% in 2011 to 43% in 2017, according to the results According to the FinAccess 2021 survey, conducted to measure the country’s financial utilization and inclusivity, Kenya’s utilization of financial services by official financial institutions such as banks increased rapidly from 26.7% in 2006 to 83.7%.
Mobile money is nothing new. Even before the pandemic, African countries were at the forefront of the industry. Per McKinsey: “Just over half of the 282 mobile money services operating worldwide are in sub-Saharan Africa.” Today, it’s not uncommon for more citizens to have access to mobile money than to a traditional bank account.
What’s even more impressive is that there’s still plenty of room for growth. According to the Wall Street Journal, only 45% of Africa’s population has an active cell phone. To put this in perspective, in Europe this number is well over 80%. How these numbers are affected by the pandemic is unclear.
In this situation, mobile money can effectively impact the improvement of financial inclusion beyond supply and demand boundaries. Mobile money has the advantage that it can easily offer financial services to mobile phone users without installing any special financial infrastructure. In addition, as with the credit scoring system, creditworthiness is measured based on mobile phone usage history, and services such as microloans can be offered to people with irregular income, low income or low credit without work. In particular, facilitating small transactions compared to banks can contribute to the financial inclusion of socially disadvantaged groups.
Tier is a simple, easy and fast payment and remittance app developed by Ennova, a financial platform and service provider based in South Africa.
The core platform of the AUC project, powered by Ennvoa, Tier, a mobile wallet to register credit cards from different banks in the wallet to provide a service that allows you to conveniently buy goods in convenience stores. In addition, prepaid IC cards issued by Ennova can be registered, and when customers use them, they can purchase goods at a very low cost or receive various rewards through services provided by Ennova.
Michael Kwon, Co-Founder and Managing Director of Ennova said, “We are a fintech and blockchain solutions company that has been continuously researching and developing for the last three years to offer more convenient online/offline payment services to African users.” He added : “In the fast-growing easy payment market after the Covid-19 crisis, the Tier app will provide users with a more convenient digital payment environment and enable the payment of digital assets by offering high discount rates, low fees and strong security. In addition, he said, “At present, the entry of large companies like PayPal into the digital asset payment market will draw more attention to the digital assets themselves and increase demand, and if Tier App’s unique strengths are well utilized, it will definitely become possible.” to undermine demand in African markets.” Concluding: “We are also introducing digital assets to Africa through the Leo12 exchange and providing a secure trading environment. She will support blockchain startups on the African continent through LEO12’s Jump Deck program. With this ecosystem, we are spreading the benefits of digital finance across Africa and striving for sustainable development that grows together.”
“Tier” and “LEO12” are currently in use in South Africa and neighboring countries. The Tier app and the LEO12 exchange are organically connected, and all users participating in the AUC ecosystem can use the AUC project’s digital assets, AUC tokens and en-Cash points to make cross-border payments and remittance services easy to use via tier app and LEO12 exchange without using multiple solutions.
To learn more about LEO12 Crypto Exchange, please visit www.leo12.com.
About the AUC project
AUC is a project that starts with the financially disadvantaged people of the African continent, combining blockchain technology and digital assets in the global payment and remittance markets to offer relative solutions to users.
The ecosystem of the AUC project consists of a digital financial platform, digital assets and crypto exchanges. AUC token issued on an erc-20 basis and used within the network of AUC projects such as transactions, remittances and value exchange between countries. As various applications are served on AUC tokens and users increase, the demand for AUC tokens will increase and create higher value.
Tier, the digital finance platform, is an all-in-one payment and remittance platform that makes it easy to use all types of financial services in just one app.
LEO12 is a digital asset exchange that supports 3 markets (ZAR/BTC/USDT) and 11 trading pairs and can buy/sell coins like BTC, ETH, XRP, LTC and many more. LEO12 is now operating in South Africa and is set to open LEO12’s first office in Ghana next year.
ENNOVA is a company for IT and fintech solutions. Your business will venture into the blockchain world and revolutionize current digital systems and solutions. Your focus will be on developing and offering new FinTech solutions based on blockchain technology. ENNOVA’s mission is to create a secure and convenient digital solution for the world to further advance and develop the economy and digital mobile service.
Visit our website for more information and updates on the project. We also provide regular information on social media:
Contact: Patrick Yu / Head of Marketing
Website: http://aucuunited.com, https://ennovaglobal.com
SOURCE: ENNOVA PTE. GMBH.
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