Akoin, a cryptocurrency project from rapper Akon, has joined up with blockchain financial infrastructure company Delchain.
Akoin president and co-founder Jon Karas said:
“Bahamas-based digital asset management leader Delchain, an affiliate of Deltec, has provided strategic advisory services and expertise in connection with Akoin’s token generation event on a top tier exchange, scheduled for Q2 of 2020.”
Delchain is reportedly associated with Deltec Bank and Trust Limited.
Constructed on Stellar’s blockchain, Akon’s crypto endeavor aims to provide utility tokens for atomic swaps, allowing parties to transition across various digital assets and fiat currencies, among other things, according to a copy of the project’s white paper.
Akon described current monetary difficulties in Africa, including unstable and unstable currencies. The singer even said the country’s citizens often barter with cell phone minutes and credits in exchange for products and food.
Akoin COO and co-founder Lynn Liss said:
“Akoin is a blockchain ecosystem and cryptocurrency designed to fuel rising entrepreneurs in Africa and beyond,” Cointelegraph in an email.
Liss added:
“Akoin’s mission is to unlock the potential of the world’s largest growing economy by creating revenue- generating opportunities and stimulating innovation, entrepreneurship, economic stability, and growth across Africa and other lean economies.”
Delchain adds depth in a number of areas for Akoin. The outfit brings “Industry best practices, financial services and top tier relationships related to digital asset management, token generation events and token custody management and services,” Karas explained.
Akon said in a statement:
“We decided to partner with Delchain, Delchain being one of the most prolific financial facilities in the crypto world.”
He added:
“When we met with them it was more so about allowing them to understand what we are trying to do in Africa, the kind of challenges that they will be facing, that most banks and financial facilities aren’t willing to take at the moment.”
Source: Cointelegraph.com | Image Credits: Wikimedia
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