CryptoBank to Use NULS Blockchain for Crypto-to-Cash Solutions for Africa and Beyond

This article was first published on Stories by NULS on Medium
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We at NULS/Nerve are pleased to announce a collaboration with CryptoBank of Accra, Ghana. CryptoBank aims to modernize the finance and payments industry in Africa. Its goal is to become the leading cryptocurrency payment solution provider in Africa and beyond.

The Problem

Conventional payment systems can be slow and insecure. Digital currencies and crypto payments provide fast, low fee, and secure financial mechanisms and payment solutions. Yet cryptocurrency payment providers and platforms must prove they can provide security and speed, while remaining cost effective and scalable.

The Solution

CryptoBank wants to solve the problems of traditional payments by offering instant transactions and immediate crypto-to-cash settlements for merchants. It also has a gift card to crypto payment option to help users exchange gift cards for digital currency.

CEO Uzochukwu Chinaza explains:

“One of the biggest problems we are facing today in the world of cryptocurrency is how to make payments with our digital assets when it comes to business and payment of goods and services both online and offline.

“Looking at the future of digital currency today, the advantages of crypto payments, such as ultra-low fees, speed, clear and developed advances in transactional security and more have yet to be implemented in the market. We are building a technology to solve these problems and to serve as an escrow between the merchant and the buyer to help reduce fraud.”

CryptoBank is building a payment API for marketplace integration, allowing merchants to accept digital currencies with the same safety and convenience as fiat currency. They add to that low transaction fees, higher consumer protection, and dispute resolution technology.

Working with NULS/Nerve, CryptoBank will build its native token, CBToken, on the NULS blockchain. It will take advantage of working with the expert team and advisors at NULS/Nerve, developing both its blockchain technology and its ...

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