Mobile startup ONEm Communications launches hybrid crypto for Africa

26 Sep, 2018
News
Mobile startup ONEm Communications launches hybrid crypto for Africa

Mobile tech startup ONEm Communications has launched their hybrid cryptocurrency with the focus on reaching the unbanked masses in Africa. The token will be an internet free coin that can be transferred between users via cell phone using text or apps.

Nasdaq announced the launch of ONEm's mCoin. The focus of the project is to bring the benefit of cryptocurrency to millions of unbanked Africans.

ONEm Communications is a London based tech startup that focuses on mobile services that create an ecosystem allowing people to communicate and access information via mobile devices. 

CEO Christopher Richardson believes the progress in Africa will "leverage their happiness by giving them simple and effective tools that extend their capabilities."

mCoin will be looking to launch worldwide with Africa being the starting point. mCoin will be one of the first to integrate the ability to send the digital currency via SMS through the ONEm Wallet. The wallet will operate much like a cold storage wallet and will not require an internet connection. 

mCoin currently has over 80,000 members in several African countrie and is looking to expand to exchanges soon, with the ability to purchase tokens using phone credit in the future. 

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