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Norwegian fintech Blockbonds expands to three new markets

Blockbonds, a Norwegian fintech with ambitions for financial inclusion, has announced partnerships with three leading banks within the EAC region. These partnerships aim to push SPENN, Blockbonds’s product, to digitise the economy in each respective market.

SPENN is a “cost-free end-to-end global solution that offers savings, real-time payments and investments for bank customers – as well as supporting any currency”. The SPENN platform, built into a mobile app, combines chat, real-time payments and a bank account “wrapped around blockchain technology”.

Blockbonds is reaching to recondite markets through partnerships with local banks, offering “autonomous interaction between the banked and the unbanked”. The firm aims to digitise these cash-based ecosystems.

Read more: House of Lords highlights ‘unacceptable’ UK financial exclusion

“It is with great pleasure that we can announce these partnerships. Not only will this give us a great start into the African market, but it sets a foundation for us contributing to the pan-African financial inclusion over the next years,” CEO Jens Glaso said.

The Blockbonds team is currently focusing on seven markets with a total population of 1.7 billion.

Related: Financial inclusion drives ATM usage, RBR

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