Slovenian cryptocurrency pioneer expands to Africa

Slovenian cryptocurrency pioneer expands to Africa
By bne IntelliNews August 9, 2020

Slovenian Eligma, creator of the GoCrypto payment platform, has announced its expansion into the African market through a partnership with African cryptocurrency exchange Quidax. 

GoCrypto was instrumental in turning Slovenia into the world leader in the number of physical locations that accept payments with cryptocurrencies, and has already expanded into the South American market. 

The company has now announced the partnership with Quidax, which will make it possible for people to buy products and services in Africa through the use of GoCrypto. The partnership will enable merchants to accept crypto payments and to receive settlements in their local currency, starting with the Nigerian naira (NGN), a post on the GoCrypto blog said.

“Our partnership with GoCrypto helps us answer a question we get so many times: ‘Can I spend crypto?’ We are proud to be playing a role in answering that question,” said Buchi Okoro, co-founder and CEO at Quidax. 

Eligma CEO Dejan Roljic commented that the partnership “marks an important milestone for the GoCrypto payment scheme and opens the door for payments through GoCrypto in Nigeria and Africa. GoCrypto’s presence on the third continent in a row shows that cryptocurrencies are becoming a highly relevant payment method.”

In the company’s home country, more than 1,000 locations in Slovenia are now accepting cryptocurrency payments, including cafes, restaurants, dentists, hair salons and hotels, as cryptocurrency adoption is growing rapidly in the country. 

Among locations that accept the cryptocurrencies are major retailers, such as the Tus supermarkets, Slovenia’s biggest electronic seller Big Bang, Atlantis Water Park, and Burger King Slovenia, GoCrypto said last week.

The number of sites with the GoCrypto system is steadily increasing. The system is currently available in 13 countries — ten European countries and three in South America.