African startup Basqet Financials announces the launch of a gateway for cryptocurrency payments

African startup Basqet Financials announces the launch of a gateway for cryptocurrency payments

Fintech startup Basqet announced the launch of the public beta version of its payment service and announced its readiness to support payments in VTC, USDT, ETN and LTC. The list of accepted cryptocurrencies will expand as the service develops. Prior to the beta launch, test transactions worth over $1.3 million were conducted. Basqet’s team said it is ready to work with the 118 companies that have already signed up.

Basqet said it has solved one of the biggest problems associated with cryptocurrency payments – leveling the impact of high cryptocurrency volatility on changes in current prices. The payment service will allow merchants to accept cryptocurrency as payment and pay in U.S. dollars, cryptocurrency and more than five African currencies. In doing so, the seller will be guaranteed to receive an equivalent value in the chosen currency, such as U.S. dollars, regardless of cryptocurrency price volatility.

“We are creating a missing link between people who own cryptocurrency and businesses that want to accept cryptocurrency as a means of payment. And we’re doing it without a loss to merchants because of the volatility of cryptocurrency prices”, said Bunmi Eleshin, senior product manager at Basqet.

The Basqet cryptocurrency payment gateway is analogous to Stripe in the U.S. and Flutterwave in Africa. Its use will enable business owners to reduce regular transaction fees by more than 60% and accept various cryptocurrencies as donations, payments or deposits.

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Written by Renat
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