World Mobile, a mobile network company operating in East Africa, has announced the launch of its utility-based World Mobile Token (WMT) on the Cardano blockchain.
The company has so far already raised $5 million in a private sale and hopes to raise a further $40 million within the first 5 weeks of the public sale.
World Mobile brings sustainable connectivity to Africa by selling affordable network nodes to local business owners through the sharing economy.
The company currently operates in Kenya and Tanzania where it runs a mesh network of mobile nodes within communities bringing affordable internet to the locals.
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The WMT will now power the World Mobile Network ecosystem allowing network users to access:
- Digital banking
- Digital identification
- Educational institutions
The WMT will open KYC applications on June 15, 2021 enabling participants to create their private WMT vaults. Once approved, applicants will be able to purchase WMT tokens using either:
The launch of the WMT token comes a month after Cardano annunced a partnership with World Mobile to leverage the company’s decentralized identity solution on the Cardano blockchain.
Participants will be required to have a Cardano address with a 24-hr window to do so.
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