Zimbabwe’s cryptocurrencies exchange, Golix, enters South Africa

Zimbabwe’s cryptocurrencies exchange, Golix, has partnered with Blockstarters, South Africa’s crypto/blockchain hub and incubator, in a bid to expand to South Africa.

Before this move, Golix previously had only two offices in Zimbabwe’s capital with 22 staff members of staff.

According to Nhlalwenhle Ngwenya, Golix Director of Communications in a press release, ‘The strategic move, is part of Golix’s initiatives to expand its services to the rest of the continent.”

“The crypto/blockchain hub and incubator cushions startup firms, against challenges that may stifle them to realise their full potential by providing a conducive environment which comprises of relevant blockchain fields and potential capital ventures.”

Golix’s Product Manager, Yeukai Kusangaya commented that, “This is a positive and a promising move. The crypto/blockchain hub and incubator is set to be a huge learning platform for Golix in an all new different environment. During this period the hub will be more of a compass to us as navigate into a new market factoring in the cost of exploring new depths like this. Also believe that South Africa is the best place because of its vibrant economy which, like Zimbabwe, has also interest in cryptocurrencies,” she said.

Blockstarters co-founder Kreaan Singh said “As entrepreneurs ourselves, we created Blockstarters to bring together the very best in the crypto & blockchain industry. We want startups to grow together, and to inspire one another to create innovative solutions for Africa. How better to do this than to bring everyone under one roof? We the Blockstarters founders have been involved in the industry since 2013, and now live much of our lifestyles off cryptocurrencies. Companies like Golix will one day help millions of other people to do the same.”

“Currently they are more than 3 million Zimbabweans estimated to be based in South Africa. Annual they remit millions back home. Considering that, as of the moment, Golix does not support the Rand (ZAR), being part of the hub is likely to see the exchange introducing the currency.”

“Unlike the Zimbabwean government’s cautious stance towards cryptocurrencies, South Africa has adopted a more proactive approach. Early February 2018 it was reported that the Central Bank of South Africa had said that it would carry out its own research into the feasibility of blockchain technology in South Africa. Such a move can prove progressive to cryptocurrencies exchange and boost public confidence.”