80Eight, a dynamic public company based in Johannesburg, South Africa, is transforming the landscape for small and medium-sized enterprises (SMEs) across Africa by integrating cryptocurrency into their business operations. Established two years ago, 80Eight uses crypto not just as an investment tool but as a key business enabler, facilitating transactions, reducing costs, and connecting SMEs with global markets.
Key Financial Metrics:
- Daily Transaction Volume: $1 million
- OTC Clients: 180
80Eight’s unique approach harnesses the power of cryptocurrency to enhance business operations. Rather than viewing crypto solely as a financial asset, 80Eight integrates it into practical solutions for SMEs, offering:
- Global Supplier Connectivity: By leveraging its extensive network, 80Eight helps SMEs connect with international suppliers, especially from regions like China, ensuring better pricing and favorable terms.
- Rand Stablecoin [ZAR8]: This in-house stablecoin facilitates smooth transitions from traditional fiat currencies to the blockchain, simplifying transactions and cutting costs.
80Eight operates under two essential licenses:
- FSB License: Authorizes transactions in forex and cryptocurrency.
- RBSA License: Enables treasury facilitation services through authorized dealers.
These licenses support a variety of services, including:
- Crypto Arbitrage
- Over-the-Counter (OTC) Desk
- Treasury Management
- Forex Services
- Robo Advisory
80Eight’s growth is deeply rooted in its founders’ extensive history in the import and export trade. This background has been instrumental in building and maintaining valuable relationships with suppliers and traders. By leveraging these established connections, 80Eight offers its SME customers unparalleled access to better deals and trade finance options. This historical expertise ensures that their crypto solutions are not just innovative but also grounded in real-world business practices.
Faadil Moti, Founder and CEO of 80Eight, notes:
“Our legacy in import and export trade has been crucial in shaping our business. By nurturing relationships with diverse suppliers, we provide SMEs with better trade opportunities and financial solutions. Our use of cryptocurrency as a payment method allows businesses to engage in global trade more effectively and efficiently.”
80Eight’s services extend beyond traditional financial solutions, enabling SMEs to utilize crypto for payments and hedging against currency volatility. In markets like Asia, where crypto is increasingly accepted, stablecoins offer practical solutions for transaction settlements.
Conversely, in regions with less liquidity, such as Malawi, 80Eight’s expertise helps navigate higher premiums and market challenges.
Compliance is a cornerstone of 80Eight’s operations. The company actively engages with local regulators to ensure adherence to legal frameworks and adapt to evolving regulations. By applying insights from both South African and international regulations, 80Eight maintains a strong compliance posture across its operational regions.
80Eight envisions a future where digital currencies and traditional banking coexist, with Central Bank Digital Currencies (CBDCs) playing a significant role in financial transactions. Their commitment to integrating digital innovation with traditional financial practices aims to provide comprehensive solutions for businesses navigating a rapidly evolving economic landscape.
For SMEs in Africa, 80Eight represents a forward-thinking partner that merges cryptocurrency with established trade practices, driving growth and efficiency in today’s global market.
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