Coins App is a global social payments application for the Dan Holdings Blockchain Ecosystem, designed to integrate billions of people into the global world, by empowering them to move money freely across borders.
Dan Holdings, a blockchain, fintech and emerging technologies firm, has launched Coins App across six African countries – Cameroon, Ghana, Ivory Coast, Mali, Nigeria, and Senegal. Coins App, which is one of several financial services to be launched in the next month within the Dan Holdings Blockchain Ecosystem, is a digital wallet that allows people to make payments across the globe and exchange cryptocurrencies with ease within a safe and technology-driven infrastructure. The launch comes after a successful beta testing phase with over 1000 beta users in more than 2500 sessions.
Coins App is planning to roll out in the Middle East, Egypt, South Africa, Mexico and the USA by August, and aims to be in 50 countries by the end of the year, with an initial focus on Africa and the Middle East. Ultimately, the goal of Coins App is to enable users to access basic services such as ordering a meal or purchasing a flight ticket, with stablecoins and other digital currencies like Bitcoin (BTC) or Binance Coin (BNB).
How does it work?
Coins App allows users to send, receive peer to peer payments, buy, sell, and store a variety of digital currencies. As at its launch today, Coins App supports four cryptocurrencies, including Dollar Coin, NGN Coin, Bitcoin, and Ethereum, and will include many more in the coming weeks. Users will also be able to request exchange rates, deposit/withdraw both fiat and digital currencies, swap between digital tokens, and purchase phone airtime. Transactions with the app are seamless, and withdrawals and deposits can be processed via bank transfer, debit/ credit cards, and cryptocurrency. All digital currency exchanges and all transactions within the ecosystem are free.
Why African markets?
While African countries are rarely mentioned as one of the main markets for crypto, the continent could one day be the largest market for the crypto industry. With 725 million Africans predicted to own a mobile phone by the end of 2020, the infrastructure for increased adoption of cryptocurrency payment technologies.
Coins App unique use case
The app specifically targets the global remittance market, using the Middle East and African markets as a gateway into the global economy. The app promises instant transactions and no hidden fees; it enables senders and receivers to connect directly, thereby eliminating middlemen, increasing transparency and reducing remittance costs by up to 90%.
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