Prince Sunduzani, Business Reporter
ZIMBABWE’S only crypto currency exchange company, Golix, has expanded its operations to South Africa as it takes steps to increase its network to the rest of the continent.

Golix has partnered Blockstarters, South Africa’s crypto/blockchain hub and incubator, in a move that will see the exchange tapping into a new highly economic active market. Blockstarters cushions start-up firms against challenges that may stifle them to realise their full potential by providing a conducive operating environment. Golix product manager, Yeukai Kusangaya, said the incubator hub will offer them a chance to smoothly integrate into the South African crypto currency market and meet like-minded start-ups.

“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 we navigate into a new market factoring in the cost of exploring new depths like this,” she said.

“We also believe that South Africa is the best place because of its vibrant economy which, like Zimbabwe, has also interest in crypto currencies.”

Crypto currencies gained popularity in the country late last year, when prices sky-rocketed. At its peak in December 2017, Bitcoin scaled past $33 000 on Golix where, like elsewhere in Africa, it trades at a massive premium. In January 2017, the coin was worth just about $1 000. Recently, Golix introduced the country’s first ever Bitcoin ATM, which comes loaded with US$ and allows anyone to buy and sell Bitcoin using the greenback.

Golix employs 22 workers in Zimbabwe.

The blockstarters co-founder, Kreaan Singh, said the SA partnership was a step in the right direction towards creating meaningful innovations for Africa. — @PrinceNkosy102

 

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