Estonia-based crptocurrency firm, Totalcoin, has established operations in East Africa, setting up shop in Kenya, Uganda, Tanzania, Rwanda and South Sudan.
The East African division of the crypto company will be headed by Joshua Mutisya.
Totalcoin was first tested and launched in Russia, in December 2018.
The firm is registered in Estonia but has its headquarters in Berlin, Germany.
Totalcoin’s main selling point is that it allows users to deposit and withdraw their coins for free, unlike many of their competitors.
There has been a surge in the popularity of cryptocurrencies globally, with companies such as Facebook jumping into the space with their own crypto products.
However, Africa as a whole, is yet to embrace cryptocurrency.
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Kenya’s Central Bank says that Kenya is miles away from allowing the use of virtual money.
Central Banka of Kenya (CBK) Governor, Patrick Njoroge said, “We are still miles away from having solutions to those things (cryptocurrency). But I know there’s a lot of interest particularly with the new product that Facebook has recently announced.”
