Launching this month, Akoin (AKN), the digital asset platform and cryptocurrency developed by global artist Akon has partnered with Baanx to offer a debit card allowing users to pre-load and spend their Crypto-Assets anywhere in the world.
The Akoin Card will broaden the reach of AKN allowing people to pay for goods and services worldwide across the 40 million merchants which accept Mastercard, providing a huge boost to wider crypto adoption and use.
Using the Akoin Card, people can purchase goods and services quickly and easily. The card is connected directly to a user’s Akoin Wallet enabling them to spend Crypto-Assets anywhere, while the Baanx platform operates behind the scenes to settle with merchants in their national fiat currency.
This means that people who already use AKN in Mwale Medical and Technology City in Kenya, will now be able to use the asset to connect to payment systems and buy goods worldwide, which has excellent benefits. Once AKN is rolled out across Kenya, the whole country will have a new, quick and simple way to shop, trade and do business globally.
Lynn Liss, co-founder of Akoin and Chief Operating Officer, said partnering with Baanx would bring new players into the Akoin marketplace.
“This will give millions of people access to crypto, and access to a global network of merchants offering goods and services. That’s life changing, and a positive step forward for crypto use. Akoin and Baanx share the vision of providing infrastructure for a new digital economy, and doing so in a compliant way which provides world class value to users.”
Baanx CEO Garth Howat said: “Enabling the AKN community to spend the Akoin Projects’ Crypto-Assets with the new Akoin Card enables wider adoption of Cryptocurrency. The future of this project is huge, with highly ambitious plans changing the Payments landscape of Kenya and Africa for many millions of people. Baanx is here to assist Akoin to achieve those goals through a combination of Cryptocurrency enabled Payments systems, Digital Asset based Lending and Digital Banking Services which bridge the gaps between Cryptocurrencies and Financial Services”
Akoin is also in the process of delivering an Akoin Wallet which will support the roll-out of the Akoin Card more broadly throughout Africa. This wallet will enable users to learn, earn, spend and save using an integrated marketplace of DApp / App and services partners, providing economic opportunities and an easy way to onboard with the Akoin Ecosystem.
Major partnerships
Akoin is already driving major global partnerships forward which will bring massive utility to the Akoin Token.
Earlier this year, Akoin’s pilot program heralded a success in Kenya’s 35,000 person Mwale Medical and Technology City (MMTC) with technology hub founder Julius Mwale and Akoin founder Akon attending a major launch event in the coming months to unveil Akoin’s national rollout across Kenya.
The Akoin currency and platform was used among the city’s residents, workers and growing businesses, allowing them to receive their salaries in the token, while also allowing them to use AKN to pay for goods and services across the city, including groceries and gas.