As businesses become increasingly aware of the importance of a digital currency that massively scales and has very low transaction fees, Bitcoin SV (BSV) is becoming more and more in demand. South African payment gateway, AnkerPay, is the latest to on-board BSV, one of the best performing assets of any kind over the last year.
AnkerPay offer a digital wallet, a point of sale (POS) system, an ecommerce integration platform, as well as AnkerATMs – two-way ATMs which enable quick conversion between fiat and digital currencies. Its ecosystem will be implemented across Sub-Saharan Africa.
AnkerPay came into existence in an effort to solve some of the fundamental obstacles for mass adoption of digital currencies in developing nations.
Fear of price volatility from merchants and shop owners is one such central issue, which AnkerPay addresses by paying out in local currencies with immediate conversion with their POS system.
AnkerPay also works to facilitate on-boarding of the unbanked. Giving access to those that don’t possess a bank account is vital in developing countries, an issue which AnkerPay works to solve through three key factors:
- Affordability: The AnkerATM is designed to be affordable for the operators – not only the base price but the operating costs too – lowering the barriers to adoption for businesses and end-users alike.
- Safety: AnkerATMs operate with a smaller float requirement than traditional ATMs, further reducing the barriers for businesses while making them a smaller target for crime in parts of the developing world.
- Vetted Integration: The AnkerPay team have made a commitment to not supporting small, unproven tokens with limited viability or utility. As the AnkerPay system will be most users’ first experience with digital currencies, ensuring that they have a streamlined experience with reputable tokens is of top priority.
With immediate effect, BSV can now be used on the Android version of the AnkerPay wallet, with iOS support scheduled to be added in the near future.
Les Vorster, CEO of AnkerPay, commented: ‘It has long been talked about that digital currencies can provide a solution to the swathes of people across the world that are unbanked and that is exactly our plan – especially to help people of Sub-Saharan Africa. Adding Bitcoin SV was an easy decision as it is very attractive to retailers and customers alike because of the tiny transaction fees on the chain.’
Jimmy Nguyen, Founding President of the Bitcoin Association, added: ‘Real value for any asset can only come with real utility. On Bitcoin SV, the increasing number of use cases which capitalize on this utility – just like AnkerPay – continue to demonstrate the possibilities of the Bitcoin blockchain when it is able to operate unhindered. With a need for more efficient payment systems and for banking large unbanked populations, Africa is prime territory for widespread adoption of Bitcoin use cases. It’s exciting to see AnkerPay help bring Bitcoin SV’s superior capabilities to Sub-Saharan Africa and I look forward to seeing the progress they make with BSV to give Africa’s people more access to financial services.’