According to the founders, Abokie solves the problem of liquidity and makes converting crypto assets, such as bitcoin, to naira as easy as snapping a finger. In the past five years, there has been tremendous growth in the adoption of cryptocurrency in Nigeria.
However, one of the major challenges of these digital currencies is the lack of trusted liquidity services to help holders convert their crypto assets to naira when needed. Sometimes, it takes days to get the naira and a number of times, people fall into wrong hands and are shortchanged. Converting cryptocurrencies to fiat currencies remains a big headache for the teeming population of cryptocurrency enthusiasts in Nigeria.
This is the primary challenge that Abokie, a new cryptocurrency trading platform, is poised to solve for Nigerian crypto-asset holders and enthusiasts. Currently, holders can now convert their bitcoin to naira with ease. Holders of other cryptocurrencies will also be able to use the platform in the next few months. With speed, ease of transaction, and reliability as its primary benefits, Abokie has been engineered to deliver on this promise to its growing customer base.
“It’s really amazing how we got over 3,000 customers transacting on Abokie even when it was still in the beta phase. It’s a validation of our idea and a confirmation that we are up to something great,” says Ejovwoke Enakirerhi, CEO of Research and Partners, the parent company of Abokie, while adding that Abokie has already processed over 25,000 transactions without a glitch.
“We are very intentional with the Abokie brand. Our primary focus now is to provide fast and reliable liquidity for cryptocurrency holders, hence, the reason why our current product roadmap is focused on the selling segment of the market and not buying.
“Moreover, we are building a lifestyle cryptocurrency brand and we believe this will increase the adoption of cryptocurrency in Nigeria and Africa. There are strategic partnerships in the works which will help us gain mileage as we embark on this adventure”
The company’s brand and marketing lead, Tosin Balogun adds that “We are building a cryptocurrency exchange that will not only solve the problem of crypto to fiat liquidity but also bring our customers closer to their money and friends. We recognize the importance of money and friendship in peoples’ lives and this is why we are building engaging touchpoints and fostering authentic connections with our audience. Our brand tagline is “Beyond Rates… because we are more than a cryptocurrency trading platform.”
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The adoption of bitcoin as a means of value exchange is increasing tremendously, in spite of recent regulatory directives. This sheer motivation, according to Tosin Balogun, inspires the engineering of Abokie to support Nigerian cryptocurrency enthusiasts and give them a platform they can leverage to live their dreams.
Aside from having a solid product, Abokie plans to drive its brand through engaging lifestyle events and activities among cryptocurrency enthusiasts, especially the Millennial and Gen Z audience. To prove its commitment to this promise, Abokie recently signed two brand ambassadors, Chukwudike Damian Akuwudike (@iamdike) and Ezeani Chinaza Clara (@missezeani). These popular content creators have amazing fans in the hundreds of thousands on social media and they represent the perfect demography Abokie is trying to reach.
Chukwudike Damian Akuwudike who is known by his social media handle as @iamdike, one of the brand ambassadors expressed his excitement about the ambassadorship with Abokie. “Abokie is a great brand with a solid product. I can’t wait to introduce the brand to my fans.”
The same sentiment was shared by the second brand ambassador; Ezeani Chinaza Clara who is known on social media as @missezeani. “Abokie brand is going places and I am happy to be part of the journey.”