Ø Crypto Union, a blockchain Banking startup has partnered with digital asset exchange, Zaddex, to launch a security token platform in a bid to boost Small and Medium Enterprises, SME, in West Africa.
This was made known in a statement released by Ø Crypto Union.
The partnership with Zaddex which has a full license to operate in West Africa, is to grant West African SMEs access to funding through a new security token platform, the statement said.
Currently located in Côte d’Ivoire, they plan on expanding across West African Monetary and Economic Union (UEMOA) by offering equity and debt financing via asset-backed loans and e-money.
Côte d’Ivoire’s Trade Ministry, the regional stock exchange BVRM, and other government agencies has reached an agreement to that effect.
Ø Crypto Union intends to invest in 150 small businesses across Côte d’Ivoire, to boost economic development through the nation’s SME market.