ENNOVA Announces Expansion of AUC Ecosystem Through Mobile App ‘Tier’ and Crypto Exchange ‘LEO12’
JOHANNESBURG, SOUTH AFRICA/ ACCESSWIRE / July 6, 2022 / ENNOVA, the fastest growing blockchain services company in South Africa, announces that it is expanding the AUC Project ecosystem.
African countries have actively used mobile money as a measure to improve financial inclusion, and as mobile money has lowered the threshold for financial use and increased access, financial inclusion in Africa has doubled from 23% in 2011 to 43% in 2017. In particular, according to the According to the results of the 2021 FinAccess survey conducted to measure the country’s financial use and inclusiveness, Kenya’s use of financial services through formal financial institutions such as banks increased rapidly, from 26.7% in 2006 to 83.7%.
Mobile money is nothing new. Even before the pandemic, African countries were pioneers in the industry. According to McKinsey, “just over half of the 282 mobile money services operating globally are located in sub-Saharan Africa.” Today, it is not uncommon for more citizens to have access to mobile money than to a traditional bank account.
What’s even more impressive is that there is still plenty of room for growth. According to the Wall Street Journal, only 45% of the African population has an active mobile phone. To put that into perspective, in Europe that figure hovers well above 80%. No one can guess how these numbers will be affected by the pandemic.
In this situation, mobile money can effectively influence the improvement of financial inclusion beyond the limits of supply and demand. Mobile money has the advantage of being able to easily provide financial services to mobile phone users without installing any special financial infrastructure. In addition, as in the credit reporting system, credit is measured based on users’ mobile phone usage history, and services such as microloans can be provided to people with irregular incomes, low income or low credit jobless. In particular, the ease of small transactions compared to banks can be effective in the financial inclusion of socially disadvantaged groups.
Tier is a simple, easy and fast payment and remittance application developed by Ennova, a financial platform and service provider based in South Africa.
The central platform of the AUC project, which is carried out by Ennvoa, Tier, a mobile wallet, to register credit cards of various banks in the wallet to provide a service that allows you to easily purchase goods in stores generals. In addition, prepaid IC cards issued by Ennova can be registered and if customers use them, they can buy goods at very low prices or receive various rewards through the services provided by Ennova.
Michael Kwon, Co-founder and Managing Director of Ennova, said, “We are a fintech and blockchain solutions company that has been steadily researching and developing for 3 years to provide more convenient online/offline payment services to consumers. African users. he also added that “In the rapidly growing simple payments market after the Covid-19 crisis, the Tier app will provide users with a more convenient digital payment environment and enable payment for digital assets, offering premium rates. ‘high discounts, low fees and high security.’ Further, he said that “currently, the entry of large companies such as PayPal into the digital asset payment market will draw more attention to the digital asset itself and increase demand, and if the assets unique Tier App are well used, it will certainly be able to erode demand from African markets. Finally, “We are also bringing digital assets to Africa through the Leo12 exchange and providing a secure trading environment. It will provide support to blockchain startups on the African continent through LEO12’s Jump Deck program. With this ecosystem, we are spreading the benefits of digital finance to Africa and pursuing sustainable development that grows together.”
Currently, ‘Tier’ and ‘LEO12’ are already operating in South Africa and neighboring countries. The Tier application and the LEO12 exchange are organically linked, and all users participating in the AUC ecosystem can use the digital assets of the AUC project, AUC tokens and in-Cash points, to easily use cross-border payments and remittance services via Tier application and LEO12 exchange without using multiple solutions.
Learn more about the LEO12 Crypto exchange, please visit www.leo12.com.
About the AUC project
The AUC is a project that starts with the financially disadvantaged on the African continent and combines blockchain technology and digital assets in the global payment and remittance markets to provide user-related solutions.
The ecosystem of the AUC project consists of a digital financial platform, a digital asset, and a crypto exchange. AUC token issued on the erc-20 basis and used in the network of AUC projects such as transactions, remittances and exchange of values between countries. As various applications are served on AUC tokens and users increase, the demand for AUC tokens will increase and create higher value.
Tier, digital financial platform, is a simplified payment and total remittance platform for everyone to enjoy all kinds of financial services in one app.
LEO12 is a digital asset exchange supporting 3 markets (ZAR/BTC/USDT) and 11 trading pairs and can buy/sell coins such as BTC, ETH, XRP, LTC and many more. LEO12 is now operating in South Africa and is expected to open LEO12’s first branch in Ghana next year.
ENNOVA is an IT and Fintech solutions company. Their company will venture into the world of blockchain and revolutionize current digital systems and solutions. Their goal will be to develop and offer new FinTech solutions based on blockchain technology. ENNOVA’s mission is to establish a safe, secure and convenient digital solution in the world to stimulate and further develop the digital mobile economy and service.
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THE SOURCE: ENNOVA PTE. LTD.
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