Africa’s largest online e-commerce platform Jumia could be adopting a cryptocurrency soon as a payment model.

According to Telcoin a blockchain start-up based in Japan, aimed at promoting financial inclusion through the blockchain announced on Twitter her partnership with Jumia.

Telcoin is excited to announce a partnership with Jumia, a leading online e-commerce marketplace accessible in 15 African countries. The partnership will seek to increase the volume of goods and services purchased on the Jumia platform in Africa. #CryptoNews #JumiaTelcoin – as quoted by @Telcoin

Telcoin is a mobile cryptocurrency solution focused on connecting with mobile networks globally, enabling easy conversion between telecom mobile money, prepaid credit, and post-paid billing platforms. Using its cryptocurrency, Telcoin plans to leverage on the existing mobile network providers, to provide people access to essential financial services such as online remittances, payments, and e-commerce.

The blockchain start-up posted another tweet to further confirm the partnership with Jumia citing that plans to improve the volume of goods and services purchased will commence in Nigeria.

Telcoin new partnership with @JumiaNigeria , a leading online e-commerce marketplace accessible in 15 African countries, to commence in Nigeria, will seek to increase the volume of goods and services purchased on the Jumia platform.#JumiaTelcoin #CryptoNews pic.twitter.com/rMnrfVWLBg — Telcoin (@telcoin_team) November 26, 2018

Jumia’s new partnership with Telcoin could come as big boost for the cryptocurrency space in Africa. As the retail market will bring the much-needed impact and cause a wider crypto adoption as a form of payment aithwi continent.

The Telcoin team consist of experienced individuals who have held the top post in companies like Etisalat (now known as 9 Mobile), TenX Pay, MasterCard, Goldman Sachs, and Citibank.

Bottom Line

As blockchain and cryptocurrency continue to gain traction with increasing demand. Mainstream adoption of the services cryptocurrency are trying to provide ‘fast and seamless payment solution’ will become inevitable. Platforms like Jumia could bring the much-needed publicity in Africa.