Kochure, Nigeria’s leading Crypto trading app has begun a groundbreaking to expand its features and presence to other parts of Africa. According to the Chief Executive Officer and Co-founder of Kochure, Pedro Obi, the move is in line with the company’s mission to build an Africa that is in line with the present financial technological trend to improve access to financial services, especially the unbanked by the present, conventional financial systems.
“We are not just another crypto app out there, we have never intended that for ourselves. We want to be different, identify unique financial pain points in the web3 space and profer indelible, robust, yet very simple solutions that will be sustainable with the continuous growth and global expansion and adoption of cryptocurrency,” Pedro Obi says. According to Obi, “We can not downplay the role cryptocurrency has played in the dynamics of the Nigerian economy. And no matter what some of the challenges have been, we can collectively agree that with the rapid adoption of the blockchain technology worldwide, cryptocurrency has come to stay in Nigeria.” He maintained that Nigeria is popular because of several factors, including its vast array of under-earth minerals, as well as her growing human resources that are being exported globally. Over the years, these qualities have earned the country the title of ‘Giant of Africa.’ Although the country is currently facing an economic downturn, Obi observed that Nigerians have reinforced their position in the cryptocurrency space as the leaders in Africa, and there is no going back about this.
When asked what was that very simple unique value proposition Kochure offers that distinguishes the app from her numerous competitors, Pedro Obi stated, “simplicity and barest minimum transaction costs.” Obi argued that unlike other brands who have delved into the industry with the cashcow mentality, Kochure came in to ease the burden of adoption for new entrants. “We are currently the brand with the lowest transaction fee, go and verify,” he said. “Kochure came in to make it easier, not difficult.” According to Obi their startup story is the unique driver.
The Kochure idea began when Pedro Obi was a young comrade involved in student activism back at the university. He was involved in NANS activism and was very vocal about it, identifying avenues for conveniences for the campus students, which gave birth to the idea of a fintech solution. The fintech app idea was basically to help the Delta State University, DELSU students, where the co-founders of the app were studying at that time, pay their bills, send money, and purchase airtime- the very basic financial needs.
However only last year after the immediate fatalities of the Covid-19 pandemic, the three founders took the bull by the horns to incorporate Kochure as a homegrown cryptocurrency exchange, with the primary goal of meeting the local cryptocurrency needs and expanding into other parts of Africa and other parts of the globe.
Sitting with Pedro Obi, he was optimistic that Cryptocurrency is definitely one major way of meeting the current fiat US dollar deficit in the country and the problem of funds transfer across Africa and the rest of the world. “This is the main sprint of our current product roadmap,” Obi said.
Currently, the Kochure app provides the facility for users to generate their unique token wallets for various tokens, receive tokens seamlessly from any other wallets, majorly on the ERC20 network, and are able to liquidate to their local fiat bank account in a matter of minutes, “with our seamless and fastest P2P fiat withdrawal methods when users trade their coins for money. There is more, however,” Obi argued. “We want to be the next Binance out of Nigeria by introducing homegrown solutions to a local market before we go on to conquer the world. Our target is to be the number one crypto exchange in the world, but we are taking that dream one country at a time.”
Whether the current fluctuation in the crypto industry is something he sees as a huge challenge to meet their goal, Obi said, “No, rather we see that as a stepping stone to be more innovative and come forth with a solution no other brand has thought about. Definitely, the volatility of this new technology is not helping matters, but crypto is here to stay, as I believe that it is one of the wealth that our generation will hand over to our kids when our time on this earth is over. But that there is a bull season as there is a bear season shows that this is a sustainable entity and only can best be harnessed along these rises and falls. This is currently one other area we are also expanding on. The bear seasons shouldn’t mean the end of the world for our users,” Obi stated, calling on users and the general public to watch out for the rollout of these unique features. “And our current users would be the first to enjoy those token hedge feature advantages.”
Therefore, to benefit from these future roll-outs everyone is encouraged to get on board the Kochure bandwagon now.
Currently, Kochure does over $500,000 worth of transactions in daily trading, a figure Obi boasts to be from organic and mouth-to-mouth campaigns only by satisfied customers. “Doesn’t it surprise you that I am not here to share with you a story of how we achieved this feat only after we got Venture Capitalist funding?” Obi said with a smile. Definitely impressive to have achieved this only from organic growth. “I remembered that moment that Binance was doing $75 billion in daily trading from its community on the Binance platform at its peak, so Kochure, a relatively new crypto exchange, is not doing badly,” he said.
With this current feat, Kochure is no doubt ready for the future. With 40 tokens/coins currently listed on the platform, including Bitcoin, Shiba, Doge, and Ethereum, Kochure plans to list more tokens/coins in the near future. “As a team, we are very bullish about the future,” Obi said.
When asked about other very simple future features he envisions for the brands, he said, “the commodity industry is our primary target. What stops the payment for airtime, data, and pay utility bills with crypto? Or being an alternative for US dollar payments when the paper itself is not readily available?”
When finally asked when was the best time to jump on the crypto bandwagon, Obi gave his own story: “I regret the 2009 opportunity I missed with the advent of bitcoin, but I have learned from that experience, so I am accumulating crypto coins at a cheap price now that we are in a bear market because I know in the next bull run, we will witness the greatest transfer of wealth ever seen in human history and a lot of people will be living with the same regret that I am living with now, which is that if I knew.”
Kochure therefore welcomes the entire old and new entrants into this great world of crypto possibilities to download their app from the apple app store or from the google playstore. Or join their telegram community for further education on how to harness the great possibilities crypto presents in the new age.
“Definitely with Kochure, your future with cryptocurrency is secured,” Kochure’s CEO, Pedro Obi says.