Johannesburg – South Africa could soon see a fresh cryptocurrency app to be launched by the deVere Group, amid &ldquo,soaring completo request&rdquo, and ter defiance of financial traditionalists.
The company, renowned spil a hotel hard, is expected to make its 2nd major fintech investment with the app being available &ldquo,ter a matter of weeks&rdquo,.
The deVere Group, which also acts spil an independent international financial consultancy with a saco ter Durban, is expected to rail the cryptocurrency wave with an app that will permit users to store, transfer and exchange five major cryptocurrencies, including bitcoin and ethereum.
Founder and CEO of the deVere Group Nigel Green said that eyed the dawn of the financial technology and cryptocurrencies era.
&ldquo,Nothing has captured the imagination te this fresh fintech age fairly like cryptocurrencies, specifically bitcoin. No one wasgoed indeed talking about it back ter . But those who invested te bitcoin before the beginning of last year have loved an extraordinaire price increase,&rdquo, Green said.
&ldquo,To meet the soaring cryptocurrency completo request, wij&rsquo,re launching deVere Crypto, a pioneering cryptocurrency app, available for Apple and Android,&rdquo, he added.
When the app is released, it will rival against other apps and services already being used by South Africans.
One of the most popular includes Luno, which permits for locals to trade te bitcoin and ethereum.
The Luno app is also used to make purchases using the cryptocurrencies through QR code payments, most recently during a trial held by retailer, Pick n Pay, where customers were able to use bitcoin to pay for items.
Another popular international podium used by South Africans is Bitfinex, which since 2014 has become the world&rsquo,s fattest trading podium for bitcoin.
Bitfinex also permits users to trade across numerous cryptocurrencies spil well spil participate ter ICOs.
This past week spelled bad news for cryptocurrencies across the world, spil values of almost all slumped amid entero regulation.
Bloomberg reported bitcoin to have plunged spil much spil 20%, spurring a January selloff ter cryptocurrencies, after South Korea&rsquo,s finance minister repeated that the country may kerkban trading ter one of the world&rsquo,s most active markets.
Bitcoin wasgoed down to its lowest level since late December – about R122 119 – on Friday at 13:00.
Rival cryptocurrencies also plunged, with ripple, the third largest cryptocurrency by market cap slumped spil much spil 33% to R19.61 at the same price on Friday.
Meantime the 2nd largest cryptocurrency by market value, ethereum recovered mildly from the week&rsquo,s news from a low of R13 145, peaking at R14 680 on Friday.