BitFury Invests in BitPesa to Boost Bitcoin Payments Across Africa

BitFury, the world’s largest private bitcoin blockchain infrastructure provider, has announced a strategic investment in BitPesa, a leading bitcoin payment and trading platform. The investment, made through BitFury Capital, aims to expand bitcoin-powered financial services across key African markets.

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A Strategic Partnership for Africa’s Financial Growth

Founded in 2011, BitFury is a global leader in providing blockchain infrastructure and transaction processing solutions. Blockchain, the underlying technology of bitcoin, operates as a distributed ledger, recording every transaction securely and transparently.

BitPesa, on the other hand, offers a fast and secure payment solution that allows users to send and receive money across Kenya, Nigeria, Uganda, and Tanzania using bitcoin. The process is simple:

• A user in one country purchases bitcoin using their local currency.
• The bitcoin is deposited with BitPesa.
• BitPesa converts and transfers the funds to the recipient in their local currency.

For example, a Nigerian user can buy bitcoin with naira and send money to a recipient in Kenya, who will receive the funds in Kenyan shillings.

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Overcoming Regulatory Challenges

The investment comes at a crucial time for BitPesa, which recently faced regulatory hurdles after Safaricom, Kenya’s leading mobile operator, cut off access to its M-Pesa platform. Despite these challenges, BitPesa has continued operations by adopting alternative methods to ensure smooth fund transfers.

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Voices from the Top: What the Leaders Are Saying

Valery Vavilov, CEO of BitFury, expressed optimism about the partnership:

“Our mission is to make global transactions easier, especially for those facing obstacles to financial growth. BitPesa is a secure, transparent, and trusted transaction platform. Our investment will help leverage the innovative power of the Bitcoin Blockchain for the benefit of the entire African continent.”

Elizabeth Rossiello, CEO of BitPesa, also welcomed the collaboration:

“It’s great to have the support of the BitFury Group, known for building a robust network of companies working with bitcoin. Valery and his team’s deep understanding of frontier markets is invaluable to our mission.”

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Renewed Interest in Bitcoin Despite Regulatory Headwinds

Although Kenya’s Central Bank has distanced itself from cryptocurrencies, this investment is expected to renew interest in bitcoin-related ventures across the region. The undisclosed amount invested by BitFury signifies confidence in Africa’s fintech potential, especially in cross-border payments.

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Why This Matters: Unlocking Africa’s Financial Potential

The BitFury-BitPesa partnership represents more than just an investment—it’s a statement of intent to:

• Streamline cross-border transactions in Africa.
• Expand financial inclusion by reducing costs and inefficiencies associated with traditional banking systems.
• Harness blockchain technology for secure, transparent, and scalable financial services.

By eliminating the barriers that hinder international payments, BitPesa is positioned to empower businesses, traders, and entrepreneurs across Africa, driving economic growth and digital transformation.

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The Road Ahead: Bitcoin’s Role in Africa’s Fintech Future

As Africa’s fintech ecosystem continues to grow, blockchain solutions like those offered by BitFury and BitPesa will play a pivotal role in shaping the future of finance on the continent.

With a focus on secure, borderless transactions, this partnership could pave the way for:

• Broader adoption of cryptocurrencies in everyday business transactions.
• New opportunities for remittance services and global trade.
• Financial empowerment for millions of unbanked individuals across Africa.