In this discussion, Rossielo touches on the following areas:
Use of bitcoin in remittance
Building the AZA Finance hybrid fintech using blockchain technology
Early beginnings of BitPesa
The regulatory landscape in Africa
How cryptocurrencies are used in Africa
Speaking about the use of cryptocurrencies, Rossielo said:
“Being a market maker is the best. Where we need to work with partners, it makes sense to use bitcoin:
Where is no liquidity we can provide
When we wanna try out a new market
Sometimes the regulation for payments is worse than for digital currencies
These are some of the reasons why we use bitcoin for a middle currency.
In addition to that, we also sell bitcoin as a currency.”
~ Elizabeth Rossielo, CEO, AZA Finance
Rossielo provides great insights into regulation in Africa and how they were able to successfully navigate this emerging market in order to build a successful crypto and payments company serving a number of African countries.
In 2020, AZA Finance has done over $21 million in revenue and moved over $1 billion dollars, which is remarkable for a company that started just 7 years ago on the rails of the early bitcoin era back in 2013 in the emerging markets of Africa, specifically Kenya.