Electroneum, the Mobile Cryptocurrency, Partners with South African FSP and Mobile Virtual Network Operator

News provided by Electroneum Ltd
Feb 26, 2019 19:50 KST

LONDON--(Business Wire / Korea Newswire) February 26, 2019 -- In the biggest leap towards mass adoption of the ETN cryptocurrency, game-changing company Electroneum has just unveiled a new partnership with The Unlimited, an established Financial Services Provider as well as a mobile virtual network operator.

ETN users in South Africa can now top up their airtime and data directly with ETN. The Unlimited are giving users double airtime and double data, as an incentive to pay with ETN. With nearly three million users already on board, this unprecedented move will very likely see a significant increase to Electroneum’s user base.

The collaboration means that the two companies give real-world value to ETN, helping them reach the 11.2 million ‘unbanked’ people living in South Africa. With many earning less than USD$30 per month, the transformative power of this solution cannot be underestimated. The free Electroneum app allows users to ‘mine’ up to $3 USD worth of ETN every month. This creates a win-win situation for mobile providers and customers alike, giving customers more to spend on airtime, data or on everyday items.

A Perfect Partnership

The Unlimited brings you unique unbeatable value that you cannot get anywhere else. By using The Unlimited SIM card, you get rewarded with free airtime and free data for doing everyday things. “Electroneum rewards its App users for interacting with them on a regular basis. It is exciting for us to see users being able to convert their Free ETN into Airtime and Data from The Unlimited, what’s more, we will even double their airtime and data for free. Electroneum has also made it easy to get your free SIM card from The Unlimited in their app. Simply download the Electroneum App and hit “Get your free SIM” says Siddeek Rahim.

The partnership forged between Electroneum and The Unlimited is a strong one. “We don’t do anything without careful deliberation,” says Richard Ells. “We’ve been studying South Africa for some time because we knew there was a real market in the country and a real desire for something like ETN. We saw that The Unlimited do things differently and that makes them a perfect partner for Electroneum.

“We wanted to work with a company whose ethos and vision aligned with our own. Like us, The Unlimited are challengers and want to push boundaries. Like us, they also want to help empower local communities. Together we really are a force to be reckoned with and we’re going to make a vast difference to the lives of people throughout South Africa.”

The Road to a Larger Roll-out

Electroneum and The Unlimited will begin by running a three-month trial. The decision to launch in South Africa was taken after careful deliberation and assessment of financial inclusion data, including incomes and access to financial services. The country has already shown itself open-minded to the launch, with 77% of the total population saying they are interested in crypto.

“South Africa was an obvious choice for us,” explains Electroneum CEO, Richard Ells. “We carried out a large survey in the country and found that 97% of those who responded said they would like to use ETN to pay for mobile airtime and data. This gives ETN the real-world value that it needs to achieve true mass adoption.

“This is a major step forward for us, and it’s an incredible new chapter in the Electroneum story. The Unlimited share our vision and are the perfect partner for us. They too want to improve the lives of people living in South Africa, so we’ll be working to support the on-ground growth and significantly investing in the country’s ecosystem.”

Electroneum will heavily support this initial launch phase. The company will pour significant investment into advertising and on-the-ground activation, providing education initiatives which will grow its vendor network and see that ETN can not only be used to top up their airtime and data with The Unlimited but to buy everyday items from shops within their local community. Following the initial three-month launch phase, the Electroneum team will roll out their ground-breaking project to the rest of the country.

As the three-month trial begins, this looks to be an exciting time for Electroneum, The Unlimited and the thousands of customers who can benefit from this partnership.

Want to know more about Electroneum?

Discover why Electroneum’s blockchain solution for a digital payment ecosystem is a powerful tool for financial inclusion, as well as their string of world firsts achieved, including Instant Payments and KYC/AML compliance. Visit https://electroneum.com/ to find out more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190225005075/en/

Website: https://electroneum.com/

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