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Crypto startup, WhiteBIT, set to expand into Nigeria. 2 other stories and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Crypto startup, WhiteBIT, set to expand into Nigeria


A European cryptocurrency exchanges, WhiteBIT, has announced intent to expand into the Nigerian market as it seeks to enable Nigerians access global crypto market.

Volodymyr Nosov, the CEO of WhiteBIT, made the announcement in a press release forwarded to Ripples Nigeria on Thursday, June 2, 2023.

According to Nosov, while the expansion is expected to create new opportunities for Nigerians looking for gains in the crypto space, it signals a significant milestone in expanding its global presence.

Ripples Nigeria gathered that the startup has, over the years, been reputed as a leading crypto player for its unwavering commitment to security, liquidity, execution speed, and user-friendly trading tools.

With recent challenges faced by crypto players in Nigeria such as Patricia, there are, however, concerns if the company can revolutionize the crypto landscape in Nigeria.

Meanwhile, WhiteBIT noted that its decision to open a representative office in Nigeria supports its goal of making blockchain technology widely used. 

“Our company’s global goal and mission is to achieve mass adoption of blockchain technology and increase the cryptocurrency community in the world. The future of humanity is digital technology, including blockchain, the CEO said.

“This is what we believe in and adhere to. Opening a representative office in Nigeria is a logical step in the development of not only WhiteBIT, but the cryptocurrency community as a whole. Nigeria is a country that understands the prospects that cryptocurrency holds. 

“There is a big public demand for blockchain technology. Nigeria today has all the chances to become the center of finance and blockchain technology. That is why it is quite logical that WhiteBIT is launching in Nigeria.”


TECH TRIVIA: Which image format can be scaled larger without losing quality?

  1. JPEG
  2. PNG
  3. SVG
  4. TIFF

Answer: see end of post

2. Kenya’s Patamali to enhance real estate financing through DeFi  


Kenya’s Patamali has announced launching a new  decentralised finance (DeFi) platform to enhance the real estate sector.

The startup, in a press release on Thursday, announcing the development noted that the new platform operates on the Celo blockchain that aims to revolutionise the real estate financing space.

Patamali was founded by Laura Omanga and Allan Musomba Mulei in November 2021.

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According to the team, the startup was born out of a passion to provide accessible financing solutions, while ensuring that individuals and businesses have the opportunity to access capital.

Ripples Nigeria gathered that the new platform will also enable investors to diversify their portfolios. 

“Our journey began with a deep-rooted belief in the power of decentralization and blockchain technology,” said CEO Omanga. 

“We envisioned a financial ecosystem that would be transparent, inclusive, and efficient, empowering individuals, institutions, and asset originators to unlock the value of their real estate assets and participate in peer-to-peer lending and investment opportunities.

“By tokenising assets and offering tranches within our liquidity pools, investors have the flexibility to tailor their investment strategy to align with their risk appetite and desired returns. 

“We offer senior and junior tranches, each with distinct risk and reward profiles, ensuring a range of options for our valued investors.”


3. Moroccan home services startup, PrestaFreedom, closes $1.1M


A Moroccan startup, PrestaFreedom, has closed a MDH11 million (which is equivalent to US$1.1 million) from the Azur Innovation Fund to accelerate its growth at the national and regional level.

The startup, which is a home services platform specialising in household subscriptions and other services for individuals, made the announcement on Thursday in a press statement signed by its CEO and founder, Majid Benslimane.

The startup, according to the press statement, was founded in 2020 as a services platform offering a recurring and personalised cleaning subscription.

Speaking on plans for the future, the startup stated that it looks to expand further across Morocco, and into the rest of Africa.

“We are proud of this growth opportunity offered to us by our Azur Innovation Fund partners. This is a decisive step in the development of this startup that I launched a few years ago to meet a specific need and whose success today exceeds the most optimistic forecasts,” said Majid.


Trivia Answer: SVG

Vector graphics, such as an .SVG or .AI file, are comprised of points and lines, also called paths. 

These paths can be scaled up or down with no loss of quality. Instead of mapping pixels to another grid, vector image scaling simply moves the points within the image.

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