Kingstown, St. Vincent and the Grenadines–(Newsfile Corp. – November 26, 2021) – WITTY is a fully indigenous African Blockchain FinTech Provider built on the Binance Smart Chain focused on developing Products & Services with the aim of creating a Value Chain in the Decentralized Finance Ecosystem [ DeFi ].
Figure 1: WITTY is Building the DeFi Remittance Platform to Become the Crypto Gateway For Africa
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/8378/105282_8516e95664d42a5c_001full.jpg
The Vision of WITTY is to play the major role in breaking the third world fence by leveraging Permissionless and Trustless Technologies.
The Mission is to Onboard Africa into the Crypto space one step at a time.
WITTY has identified a big problem in Africa which it intends to solve; it’s a low hanging fruit because no other platform is competing in that space.
WITTY seeks to build a platform that will allow African Merchants/Traders and Businesses to buy Crypto with local currency from their Non-Custodial Peer to Peer Crypto Exchange, convert this Crypto to Fiat Dollar on their Remittance platform and be able to wire Fiat to bank accounts in about 100 countries.
So instead of African Traders to source for Fiat Dollar which they get at very high exchange rates from the black market in order to send to their Western and Asian trade partners; they’d rather buy Crypto on WITTY’s Non-Custodial Peer-to-Peer Crypto Exchange at a far much better exchange rate, convert this Crypto to Dollar on their Crypto Remittance Platform and wire to bank accounts of their trade partners in nearly 100 Countries.
WITTY has secured partnership with a Western Financial Institution to make this happen.
The Market size which WITTY intends to serve is large; according to China’s Ministry of Commerce, trade between China and Africa increased by 40.5% year-on-year in the first seven months of 2021, and was valued at a record high of USD 139.1 Billion.
