Belfrics Opens in Kenya, Plans African Expansion

Announcements, Blockchain, FinTech, Investing, News, Regulation | July 31, 2017 By:

Belfrics Global SDH will create several bitcoin exchanges across Africa in the coming months, according to its top executive.

Praveen Kumar, Chairman and CEO, revealed the plans at the opening of a new exchange in Kenya over the weekend. The exchange will be located at the Villa Rosa Kempinski, in Nairobi,

Soon to come: exchanges in Nigeria, Ghana and Botswana, with more to follow.

“We were overwhelmed with the tests trials that were run in Kenya in terms of volume, and have therefore decided to launch bitcoin exhanges across the continent in the coming months,” Kumar said. “Actually we don’t see this as a launch, since we’ve got a good business so far and this is a launch party.”

In addition to Africa, Belfrics operates in Malaysia, Singapore, and India.  Belfrics will compete with BitPesa in the Kenya marketplace.