Pioneering South African digital banking platform eZaga has partnered with fully-secured, global centralised exchange Digital Financial Exchange (DIFX) to launch a multi-asset investment platform – DoshFX. The new trading platform will serve the African region with over 700 investable assets, including select cryptocurrencies in a simpler, safer, transparent manner.
Since 2014, eZaga has been a leading provider of digital banking services throughout South Africa with innovative tools and services that have enabled people to transform the way they manage finance through the use of mobile technology. Over the years, the African region has seen an influx of various financial applications due to the adoption of technologies like blockchain and crypto. In fact, the recent Chainalysis report found that sub-Saharan Africa was the overall leader in retail crypto transfers, accounting for 80.1% of global regional transactions.
The report’s findings also echo the sentiments of many sub-Saharan African youth who are turning to cryptocurrency to build and preserve their wealth, as opposed to developed markets where cryptocurrency is used to multiply existing wealth. Therefore, to foster this growing industry and digital community, eZaga in partnership with DIFX has actively joined hands together to create DoshFX, a first of its kind multi-asset platform with zero-trading fees on BTC & ETH.
DoshFX aims to increase access to financial services by bringing South Africa and Africa’s unbanked and informal sector into the formal financial services sector, all while improving the rate of adoption of blockchain technologies, traditional asset investments and cryptocurrency trading throughout the continent.
CEO and founder of eZaga, Saud Ally said that “Despite the challenges faced in the global crypto market this year, Africa as a region has bucked the global bear trend to show an incredible increase in retail trade of day-to-day goods and services with cryptocurrencies. As a result of this positive adoption, we want to offer the DoshFX platform to millions of Africans to invest and trade in real time, transfer money securely, and increase their exposure to global investments”
The partnership also allows for all existing eZaga customers to open a DoshFX account with immediate access to a fully secure & insured custodial wallet with no additional KYC requirements. Furthermore, to cement their roots within the region, DoshFX will have their operating offices in Sandton, Gauteng, wherein the team will be led by Saud Ally as CEO and be comprised of experienced local financial services experts, skilled developers, and dedicated sales and marketing personnel.
