eCommerce, one of the fastest-growing use cases for crypto, is a key feature of Uhuru Wallet.
Customers who buy goods on eCommerce sites powered by Uhuru pay to Uhuru Wallet escrow account. Once the customer has received the goods/service and are satisfied, Uhuru Wallet makes a payment to goods providers. This could be your simple airtime purchase, or an online clothes purchase.
Some of the app’s enablers that help guarantee liquidity and security of funds include:
Uhuru Wallet is a product of BitKesh, a Zimbabwe-based crypto startup that is innovatively enabling foreign nationals in South Africa to send money to Zimbabwe.
Uhuru Wallet is built on the Stellar blockchain and holds an asset-backed digital token pegged to the South-African Rand, the uZAR.
Speaking about the partnership, Ray Youssef, CEO, Paxful, said:
“This is the perfect opportunity to partner with local talent and support the growth of the crypto community in South Africa.
By joining forces with Uhuru, we can unlock more options for our African users, many of whom are held back by restrictions of traditional financial systems, so we’re making crypto more accessible as a real-world payment method.”
Commenting on the new partnership, Reginald Tsvetu, Co-Founder and Business Development Officer, BitKesh, said:
“We’re thrilled to be able to partner with a leading international marketplace like Paxful. Uhuru is a product for Africans by Africans and we share Paxful’s vision of greater financial inclusion. We look forward to working with them to include more Africans in the global economy.”
Currently, there are over 1 million Zimbabweans living and working in South Africa. The new integration will no doubt help many of them easily send money back home via the Uhuru Wallet payment option on Paxful.