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Akoin and Baanx launch Akoin Card allowing AKN to be spent anywhere in the world

Akoin and Baanx launch Akoin Card allowing AKN to be spent anywhere in the world

Akoin (AKN), the digital asset platform and cryptocurrency developed by global artist and visionary Akon is partnering with Baanx to offer a crypto debit card allowing people to pre-load and spend their Akoin anywhere in the world.

The Akoin Card will allow people to pay for goods and services anywhere globally across 40 million merchants – using Akoin’s Stellar-based cryptocurrency – immediately providing a huge boost to wider crypto adoption and recognition.

Using the Akoin Card users can purchase goods and services seamlessly. The card will be connected directly to the user’s Akoin wallet enabling them to spend AKN anywhere in the World and the Baanx platform will operate behind the scenes to settle with merchants in their national fiat currency. Additionally, users can immediately convert their digital assets to fiat (USD, Euros, Pounds or other national currency) and can top up their Akoin wallet through the Baanx payment gateway, thus creating a platform bridging cryptocurrency and traditional fiat financial services.

Lynn Liss, co-founder of Akoin and chief operating officer, said partnering with Baanx would allow Akoin holders to spend their digital assets globally and bring new players into the Akoin marketplace.  “This is the next step in bringing Akoin into wider use,” she said. 

“It will give the millions of people we expect to be transacting in Akoin in the months and years ahead access to a global network of merchants offering goods and services. Akoin and Baanx share the vision of providing infrastructure for a new digital economy, and doing so in a compliant way which provides world class value to users.”

Baanx CEO Garth Howat said:

“We launch Digital Asset friendly services rapidly; the Baanx platform takes the compliance, KYC/AML, support and operational headaches from launching payment, remittance, digital asset exchange, FX, IBAN and card services to our clients’ communities.” 

Listing

The news follows the listing of Akoin’s token AKN on global cryptocurrency exchange Bittrex Global on November 11, allowing people worldwide to buy and sell AKN. The currency has listed with two trading pairs initially, a USDT stablecoin pairing and a BTC pairing.

Bittrex is one of the world’s biggest cryptocurrency exchanges, reporting daily transaction volumes of $41 million. It is one of only 14 exchanges globally rated by Coinmetrics’ Trusted Volume Framework as being highly trusted, having passed all three of the analytic firm’s trustworthiness tests for correlation, volume and qualitative analysis.

Akoin is a landmark blockchain platform led by global artist Akon. It is committed to bringing a trusted digital currency to countries within Africa that suffer from weak and over-inflated fiat currencies that prevent citizens from accessing financial services.

The Akoin Ecosystem will provide token holders with access to a wide range of decentralized apps (dApps) and apps, and tools for entrepreneurs to connect, engage and scale businesses in regions such as Africa, while providing a positive social impact to their communities.  

Major partnerships

Akoin is already driving major global partnerships forward which will bring massive utility to the AKN Token.

On November 10, Akoin announced a trial of AKN in Mwale Medical and Technology City (MMTC) in western Kenya. 

The Stellar-based cryptocurrency will be used for the first time as a currency among the city’s residents, workers and growing businesses, allowing them to receive their payroll in the token, while also allowing them to use AKN to pay for goods and services across the city, including groceries and gas.

MMTC is a revolutionary sustainable city located in Keyna’s Kakamega county. It is the creation of Julius Mwale, a Kenyan investor based in New York.  It is already home to 35,000 residents and workers, this medical and technology hub for East Africa centered around a 5,000-bed hospital and expanding shopping, hotel and convention center, residential complex, a 36-hole golf resort and around 6,000 homes.

The Akoin team has also partnered with World Mobile in launching AkoinNet, a blockchain-powered meshed Wifi network for delivering affordable, high-quality internet access for the unconnected in Africa. The objective is to improve social opportunities and connectedness for millions living in rural and remote regions of Africa who lack connection to the internet and therefore the global economy. 

Akoin is also establishing UN-backed Akoin Effect Opportunity Hubs in parts of Africa to allow young people to earn while they learn, focused on Blockchain and AI-based education opportunities.  The Akoin team has partnered with Jeev Networks to launch a digitized healthcare solution initially in Senegal.  The Jeev Network offers enhanced access to medical services for developing countries, using AI and blockchain to connect patients with doctors, hospitals, diagnostic imaging, labs and other healthcare facilities and improving the quality and cost of healthcare services for patients and service providers.

About Baanx

The Baanx group is a leading digital asset friendly fintech payment network in a potential future market of over $10 trillion. Baanx, through a network of licenses and technology, bridges the complicated digital asset and fiat currency sectors, providing beneficial improved financial services to engage their clients’ user communities. For additional information please visit https://baanx.com/ 

About Akoin

Akoin is a blockchain-based digital asset platform and cryptocurrency led by global artist Akon. It is committed to bringing a wide-reaching and trusted digital currency to Africa and worldwide, with an emphasis on developing areas with unavailable or inconvenient access to financial services. 

The Akoin Ecosystem will provide token holders with access to a wide range of decentralized apps (dApps) and tools for entrepreneurs to connect, engage, and scale business in regions such as Africa, while providing a positive social impact to their communities.  

Through the Akoin Utility Token (the currency), and the Multi-Currency Wallet and Marketplace, users will be able to ‘learn, earn, spend and save’ through their mobile phone as they connect and transact with the digital global economy, offering both stored value and local fiat conversion.

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