Dan Holdings Africa, formerly The Danny Oyekan Group’s African Subsidiary, to launch in Africa, with its main aim; Developing the blockchain and fintech ecosystem in the continent and also invest in Fintech and Blockchain Startups in Africa Through its Venture Capital Subsidiary, Dan Ventures Africa
For the first time in Africa, people can transact and use cryptocurrency with ease and also make payments across borders in a safe, modern and technology-driven infrastructure with a click of a button. Dan Holdings Africa is set to launch several financial services in Nigeria and across Africa. The company will launch the services in different phases starting with Telechat which is a Privacy-focused blockchain-enabled messaging application, with a decentralized wallet that allows users to send and receive money to/from anywhere in the world. Similar to the way one sends a message or a photo. This will address the problem of the time it takes for a transaction to take place.
In addition, the company will launch Coins App which is a digital wallet for cryptocurrencies. The native cryptocurrency will be backed with actual Gold. This will address the price volatility of the digital coin and also ensure that the value of the coin is retained. This will also aid in remittances across borders around the world. Coins App will allow users to send and receive, request exchange rates, deposit fiat into Crypto and withdraw crypto for fiat and top-up phone bills with crypto.
The blockchain technology and the use of cryptocurrencies is now a worldwide accepted form of undertaking transactions. Its decentralized quality makes it safe from hackers. It is also borderless hence ease of conducting transactions between different countries. This type of infrastructure is yet to be fully available and accepted in Africa hence the innovations by Dan Holdings will address this gap.
Dan Holding Africa aim is to provide a one-stop centre for all your financial needs. Every customer is assured a secure environment to undertake their businesses and also investments. For the first time ever, all Africans will be in a position to undertake transactions across the globe at a lightning speed. This will be made possible by the launch of Blockfinex, a cryptocurrency exchange. It will set the pace in the market as it is the fastest exchange today at a blazing speed of 27 million transactions per second.
The launch of these platforms and services has been designed to serve the customers in accordance with their needs. The company will ensure that it understands the customer’s financial needs and formulate the best strategy to use to assist the customer. Dan Holding Africa has also made its platforms and services user-friendly to ensure ease of usage for all ages and people around the globe.
Dan Holding expects Cash will be a game-changer as it will be like the PayPal of Africa offering a variety of services to customers. It will have the functionalities of an online bank offering the following services:
- Peer-to-peer payments between users (Send and receive money to/from Family and Friends)
- Payment processing for merchants and Businesses
- Prepaid debit cards
- Currency Exchange platform
- A cryptocurrency wallet
- Business to Business payments
- Receive payments from anywhere in the world using cryptocurrencies
Holders with an account on Cash will access these and other services through their mobile devices. This will make transactions and payments while travelling easier as the holder can access their digital wallet remotely from anywhere in the world. It will also save consumers on charges such as currency exchange fees and other transactional costs that accrue during the exchange of one currency to the other.
Cash will be Africa’s first online bank enabling mobile payment service and allowing users to locally transfer money to one another in Naira by simply using a mobile phone app. This app will also aid in the processing of bulk online payments between merchants and businesses.
The users will be in a position to send and receive fiat money using this app while in Nigeria. They will also have the ability to buy cryptocurrency with their fiat money and also use cryptocurrency to buy fiat money.
Cash will be making it easy and fast to open an account as it will take just minutes compared to opening a bank account. The App will have inbuilt budgeting to help a customer in tracking how they are spending their money. This will help them in knowing where to cut on spending and also have an overview of where they should invest more of their money. The customer will also be notified every time they make a transaction. This is to ensure that it is them with access to their account. If one is suspicious of spending, one can freeze their card in a matter of seconds.
The App will also help a customer in planning and making of regular payments. Payments such as rent, salaries and other expenditures that are recurring can be automatically set and upon maturity, they will be paid. This will help the customer focus on the most important agendas and also not be late with other payments hence avoiding penalties.
When it comes to trading, the app will provide a customer with real-life rates of the exchange market. They will be in a position to study the movement of a cryptocurrency or fiat money over a period of time. This will aid them in making the right decision on which currency is best to invest in. You can also set alerts to tell you when a certain price is attained by a currency.
Cash will allow customers to undertaking transactions online with ease. They will also be able to undertake ATM withdrawals locally and as they travel abroad. Customers are also in a position to use their cards in swiping for various services in places where they accept the use of electronic cards. This will limit the amount of money that one carries around when travelling or when purchasing certain goods and services.
The security of using the app is optimal. The user will have available options in controlling their account. They may freeze or unfreeze their accounts at their own will in a matter of seconds. This will help them mitigate any loss in case they lose their debit card or someone accesses their password. They also have an option to set the location of their card and if the card is used in a different location it blocks the transaction from going through.