Blockchain Savings Platform HelloGold Enters Africa With Baobab Partnership

Blockchain, News | February 13, 2019 By:

Malaysia-based FinTech firm HelloGold is working with digital financial inclusion group Baobab to enter the African market.

Founded in 2015, HelloGold is a gold mobile application that changes the way you buy, sell, send and redeem physical gold. The company has a revenue-generating product that allows the mass market consumer to buy and save gold for less than $1. Last year, the company received a sharia-compliant certification from Amanie Advisors ‎‎of Malaysia for its gold-backed cryptocurrency, GOLDX.

Baobab is a digital financial inclusion group focusing on serving individuals, micro and small businesses in Africa and China. The company’s mission is to unleash the potential of their clients by offering them simple and easy to use financial services.

Under the partnership, the two companies will jointly develop products for Baobab’s 800,000 strong customers across nine countries in Africa. HelloGold’s gold backed savings and loan financial products will be integrated with Baobab’s mobile phone app, allowing users to easily buy, save and invest in gold, directly on the integrated mobile application.

“We are pleased to announce this partnership, which will allow our clients to benefit from new digital services,” said Arnaud Ventura, CEO and founder of Baobab Group. “The possibility to easily save and invest in gold is an additional key offered to our clients to unleash their potential. This collaboration with HelloGold will allow us to integrate this saving offer in the nine African countries we are working with.”

HelloGold said that it will use its digital financial service infrastructure and experience to help Baobab expand its financial inclusion services.

“While we bring financial products on our technology, we support our partners in the building of their own offerings, providing differentiated value and services on their platforms,” said HelloGold CEO Robin Lee. “We use blockchain technology to enable our customers to access affordable financial products and services, starting with gold. HelloGold’s mission is to democratize essential savings and lending products for the underserved and the unbanked in emerging markets through digitization. With our shared vision, Baobab is a perfect partner.