Digital assets exchange KoinKoin reaches $40m revenue

Digital assets exchange KoinKoin reaches $40m revenue

Africa-focused digital assets exchange KoinKoin is eyeing global expansion as its annual revenues exceed $40m in OTC transactions.

As part of these expansion plans, KoinKoin aims to double its headcount of 15 staff members across its offices in Nigeria and Ghana, as well as bolster its C-suite team which is operating out of London.

The FinTech company also hopes to make growth hires in its key operating countries of Nigeria, Ghana, Kenya, South Africa and Antigua and Barbuda.

KoinKoin was founded by London-based entrepreneur Ola Atose, previously of Natwest and Deutsche Bank.

The platform simplifies the process of buying, selling and transferring digital assets across Africa, Southeast Asia and Western Europe.

KoinKoin is currently finalising a new app for its customers, which it claims will challenge and Coinbase with superior customer focused features.

The company’s platform enables users to trade globally 24/7. Its deposits system also allows customers to quickly begin buying and selling crypto, with APIs providing market data and real time information around the best prices.

KoinKoin founder Ola Atose said, “We set out to build a highly secure platform, with the aim of becoming the go-to exchange for all cryptocurrency requirements not just in Africa, but for all businesses and individuals with an active interest in Africa from around the globe. In the last year we’ve seen a huge rise in demand with OTC transactions surging as customers seek to access the best liquidity from over 100 exchanges globally.

With the demand for cryptocurrencies and blockchain technology surging, we are committed to growing our global footprint, developing, and launching new services, while bolstering our sales and customer service team with the launch of a radical and exciting new app in the coming weeks.”  

In other crypto news, Abu Dhabi has created a government body to develop its strategy for the regulation and promotion of virtual assets.

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