BitSika, a leading African crypto remittance service, processed nearly $40 million in 2020, according to BitSika CEO, Atsuh Davoh.
This is a huge leap from the 2019 numbers when BitSika processed about $1 million.
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SEE ALSO: Paxful Adds BitSika, A Popular West African Cash App, as a Payment Method
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Here is a breakdown of the BitSika transactions in 2020:
- A total of $39,953,115 processed in 2020
- A total of $18,872,474 of the above were deposits
- A total $974,864 was processed in 2019 (by comparison)
- Processed a total of 268,430 individual [successful] transactions
- Of the said successful transactions, 21,418 were internal peer-to-peer [successful] transactions
- A total 4,832 [successful] transactions were processed in 2019 (by comparison)
- Processed +$17,890,807 in payouts
- Processed +$3,189,834 in internal peer to peer transfers
- A total of 95,509 registered users with more than 95% of these users coming in 2020
- In 2020, 16,507 individual users made at least one successful transaction
- Over 40,000 users verified their phone numbers and almost 16,000 people verified their identity with a national ID
- Collected $1,027,583 in fees in 2020 as compared to only $329 in fees in 2019
After a successful 2020, BitSika is looking at undertaking the following in 2021:
- Raise Series A funding
- Get licenses in all the markets BitSika operates
- Start an internship program for the design and tech communities
- Provide more features in the app to expand reach in and beyond fin-tech
- Redesign the app and make sure it increases uptimes and fix all bugs users experience
Speaking these major milestones in 2020, BitSika CEO, said:
“If we’re able to repeat these numbers, I’ll be so happy. Just hope we’re all there to see that happen. If you’re a young developer out there, please go and build your dreams. I can’t believe we came this far so quickly. Just look where we were exactly a year ago.”
– CEO, BitSika
BitSika remittance service currently serves the Ghana-Nigeria remittance corridor.
Davido, the African mega music superstar, recently partnered and invested in BitSika.
The service was also recently added as a payment method on Paxful, Africa’s largest P2P platform.
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RECOMMENDED READING: More than 1 Million Bitcoins Became Unavailable in the Course of 2020 with Only 4.2 Million Now in Circulation (22%)
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