African fintech Interswitch has partnered with Pan African blockchain solutions company KuBitX in a bid to accelerate its Blockchain As A Service (BAAS) platform project. The project was a result of Interswitch’s partnership with Microsoft to create a blockchain based supply chain financing platform. Along with KuBitX, Interswitch aims to co-create other crucial parts of the blockchain ecosystem.

Founded in 2017, KuBitX Limited is a digital assets marketplace developed for the issue and exchange of tokenised assets. The company has a payments and remittances solution (KuBitX PROW) which aims to make instant international transfers at high speed and low cost through the use of blockchain technology. The company aims to utilize blockchain in solving African socio-economic problems.

KuBitX PROW also focuses on enabling African youth to export their creative services across the border with minimal issues regarding remuneration in their local currency.

Established in 2002, is an Africa-focused integrated digital payments and commerce company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organisations on a timely and consistent basis.

by Megha Bhattacharya
Market Analyst at IBS Intelligence