- Paybito’s pre-developed protocol enables its clientele or business associates to create customizable exchange platforms.
- PayBit intends to enter Africa’s crypto ecosystem by providing access to its crypto broker platform to an African fintech enterprise.
- The crypto broker platform has over 1.2 million registered crypto traders and a daily turnover exceeding $1.5 billion.
As the crypto industry steadily regains its former glory, Africa’s adoptive crypto ecosystem has recently regained momentum. Despite the FTX crash causing a significant decline in the continent’s crypto trading volume, it did not deter many innovators and entrepreneurs from seeking solutions through cryptocurrency. In the past year, the region has witnessed a significant rise in fintech startups and crypto payment gateways and, surprisingly, a change of heart for various governments.
The crypto market has culled Africa’s crypto ecosystems of well-known crypto exchanges like Lazerpay and a few Nigerian-base crypto exchanges. However, it also presented a new market gap, inspiring bold innovators to take this opportunity. Through this, various investors have continued their efforts to enter Africa’s crypto ecosystems.
Organizations like Binance, Mastercard, and Visa have taken several initiatives promoting crypto payment gateways. In recent news, PayBito, a well-known crypto exchange for its high rise to glory, has set its sights on Africa’s fintech industry. According to the announcement, PayBito has offered its white-lave crypto broker platform to the industry, promoting the use and awareness of digital assets in Africa.
PayBito’s renowned success in the industry
PayBito’s founding story is similar to most custodial exchanges, as its founder sought to take advantage of the growing franchise during its Golden Age. In 2018, Raj Chowdhury founded the crypto exchange at its peak moment when Bitcoin, but instead of following the footsteps of its peers, Raj sought to provide the means to expand the ecosystem rather than facilitate its growth via trading.
Paybito is a bit unique compared to its peers. Unlike Binance, Paybito is a white-label crypto exchange. This generally means at its core, Paybito contains a pre-developed protocol that enables its clientele or business associates to create customizable exchange platforms. In a nutshell, Raj mainly maintained the fame and reach of Paybito by empowering multiple enterprises and financial institutions and offering their top-notch technology and crypto trading services.
As a white-label crypto exchange, Paybito contains the typical arsenal of other custodial exchanges like buying and selling crypto to fiat-crypto conversion, trading, staking, and holding cryptocurrencies. In addition, from its term “white-label,” the organization’s features can become flexible and customizable, luring in a vast range of potential financial institutions and regions.
Paybito is listed as one of the top white-label crypto exchanges in 2023. In the last quarter of the year, the organization has managed its position through its vast features and solutions tailored to facilitate the use of cryptocurrency and its adoption in other regions.
During the purge of uncompliant cryptocurrency in the US, Paybito managed to avoid chaos by ensuring its services complied with KYC/AML regulations. After the FTX crash, having such a feature represented a stamp of trust within the industry, a must-have company for any customer exchange.
Through its unique approach to the industry and its certified services, Paybito managed to set up a Singapore and Indian base. This is generally a significant milestone, especially since Singapore has one of the best-balanced regulatory and legal environments for digital assets.
Raj once asserted Paybito’s vision: “PayBito continues to set the benchmark as the unrivaled leader among white-label crypto exchange providers. Our relentless commitment to innovation, security, and user-centric solutions cements our position at the forefront of the industry. We stand tall, empowering businesses globally with cutting-edge technology and unmatched expertise, solidifying PayBito’s legacy as the premier choice for those seeking excellence in cryptocurrency exchanges.“
As the crypto industry steadily regains momentum, the white-label crypto exchange has set its sights on Africa’s fintech Industry.
PayBito will offer Africa’s fintech industry access to its crypto broker platform.
Its history of success and unique white-label structure have significantly propelled the organization’s global reach. With the entire community earning the 2024 bull run, PayBito has set its sights on Africa’s alluring crypto ecosystem. According to a recent announcement on its official site, PayBit intends to enter Africa’s crypto ecosystem by providing access to its crypto broker platform to an African fintech enterprise.
The crypto broker platform has over 1.2 million registered crypto traders and a daily turnover exceeding $1.5 billion. Its crypto broker platform has several features and accommodates a range of trading options. These generally include Futures, Options, OTC, Basic, and Pro.
Its medium is powered by crypto-forex technology with several security features such as SegWit, multi-fiat and crypto compatibility, 3-point defense architecture, ERC20, hot/cold wallets, database encryption, and multi-factor authentication. Raj Chowdhury stated that the time was ripe to introduce its vast capabilities to Africa as the continent gears up for the 2024 bull run.
Currently, Bitcoin dominates the crypto transaction volume of Africa, accounting for 9.3%. Various regions within Africa have experienced high inflation waves in the past year, forcing many to turn to the crypto industry for alternative sources of income. As a result, the continent has experienced a significant increase in crypto activity despite the 2022 crypto crash.
PayBito seeks to empower the region’s crypto capabilities via its crypto broker platform and, in addition to its tech industries, better and more efficient tools to introduce crypto-base features. Raj commented, “PayBito is extending its white-label crypto broker platform architecture to a Sub-Urban African-based global enterprise. We believe that this partnership will further expand our services and make crypto trading accessible to a larger audience in the region.”
With PayBito’s recent announcement, Africa’s fintech industry is undergoing a significant overhaul. The crypto broker platform will empower many startups and enterprises by introducing new technology and alleviating the bustle around standard technology incorporation methods. As the market experiences an optimistic upside, PayBito will debate its source of expert solutions to aid Africa’s fintech industry and join the ranks of over 420 million crypto holders.