ImpalaCoin Wants to Flip Africa’s Trade Problems Through Cloud-Based Banking

Before the wheels of Nurucoin gain momentum, another ICO led by Kenyans with a Mauritius-registered company is on the horizon. The ICO of ImpalaCoin, a cryptocurrency brought to you by ImpalaPay, a payments company that claims to have operated in Kenya for the past four years, is set to launch soon with the pre-sale having gone live on August 27.

According to the team behind ImpalaCoin, the company aims to improve financial inclusion and trade across Africa. “We are solving trading challenges faced by emerging African markets by building a robust crypto-economy,” they are quoted. ImpalaCoin wants to power trade which is hindered by cash.

So far, everything sounds awry close to Nurucoin’s proposal but instead of running an ICO to set up an e-commerce platform like the latter, ImpalaCoin’s ICO is tailored towards building a financial network on the rails of an offline and online Blockchain economic ecosystem network and interlink it with Banks, Mobile money wallets, cryptocurrencies, payment service providers, merchant agency payouts, postal corporations aided by proprietary mobile point of sales and partner terminals.

Crypto Bank

In other words, ImpalaPay Limited is setting up a financial network (crypto bank) whose main currency will be ImpalaCoin. The main purpose of the financial network is to foster international remittances and payments across the world, so far, ImpalaPay quotes that they can securely provide these services in over 117 countries.

How ImpalaPay will achieve their crypto bank, as they call it, is by offering a hybrid mobile money wallet and card that will allow integration of cryptocurrency and mobile money wallets as well as legal tender through interoperability alongside a Mobile POS platform for merchants to accept online and offline payments all which will be linked to the company’s cloud-based core banking platform.

“Africa is a continent rich in human capital, talent, entrepreneurial stamina and mineral resources and is home to one of the fastest growing middle classes in the world estimated at around 350 million. Despite the progress made, Africa is burdened by poor economic leadership, currencies that are difficult to convert and old colonial borders that were drawn for administration rather than economic markets and are inconsistent with the growth of the large commercial markets such as COMESA,” says ImpalaCoin reps.

Interestingly, the company’s website already lists partners such as UBA Bank, M-Pesa, telcos such as Africell, Airtel and MTN among other companies. At the moment (during the pre-sale), interested investors can register online and receive 50 ImpalaCoins (ICN) upon registration and like a well-tailored pyramid, every successful referral earns the investor 50 ICN. ImpalaCoin says that their ICO price is $0.20 (or Kes.20).

If you’re interested or at all curious, you can visit ImpalaCoin’s website. We also welcome you to key down your thoughts on this in the comment section down below.