BitSika, the blockchain-based remittance service launched just 3 and half months ago, has announced it has transacted over $1 million in transactions.
BitSika remittance service currently serves the Ghana-Nigeria remittance corridor and is barely 4 months old since launch, which makes this a milestone for a crypto-focused service on the African continent.
From data shared with BitcoinKE, the average transaction on BitSika is about $200 per transaction, and considering the Ghana – Nigeria corridor is a $1.2B dollar market, the opportunity for growth is remarkable.
BitSika allows users to send money anywhere from phone to phone. The app enables fiat-to-fiat remittance with crypto moving in the background, a mainstream adoption feature that is not always considered.
The current app is a reiteration of a previous charity version of BitSika that enabled charities to receive donations from foreign donors in a most accountable way. In time, the app began to be used by family members to send money home and by companies to pay their workers.
“I built the first version within 4-5 weeks. We decided to build for the everyday user and make things as simple as possible and we take very strong stances on what we are trying to build. Literally, people demanded for its current features.” ~ Atsuh Davoh, CEO, BitSika
BitSika is also the company behind the first truly African stablecoin, ABCD, running on the Binance Chain and infrastructure. According to Atsuh, the stablecoin is ready and will be completely usable on the day it launches.
The rapid growth of BitSika is a classic example of how to build for the everyday user and how building for real practical use cases will always result in success.