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Akon Akoin set for nationwide rollout in Kenya

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TL;DR Breakdown

  • Akoin set for nationwide rollout in Kenya
  • Akoin targets becoming the second largest payment platform in Kenya after M-Pesa

Popstar Akon Akoin crypto project is set for nationwide rollout in Kenya after it recorded huge success during its pilot test.

The pilot test for the Akon Akoin crypto project in Kenya was held at western Kenya’s Mwale Medical Technology City, also called MMTC. It set the stage for the national rollout scheduled to start in September.

According to a Mwale Medical Technology City spokesperson, the Akon Akoin pilot test, which began in November 2020, enabled users to make transactions worth $5 million per month.

The pilot test allowed for a first-hand test of the crypto coin as residents were allowed to pay and receive payment in Akoin, among other arrays of platforms the coin was used.

Reports have it that monthly transactions are projected to surge after the national rollout, possibly reaching $2 billion by 2022. By that time, Akoin will become the only platform for business transactions in the city.

Overview of Akon Akoin project

The Akoin crypto is developed to help entrepreneurs, business owners, and social activists transact locally without any hassles obtainable across Africa.

The project targets 5,000 workers within the first six months and 20,000 workers for a successful rollout by the end of 2022. The developers also are working on a major launch event to enable wider adoption after the national rollout in September.

The launch will feature the activation of Akoin across 5,000 beds at the Hamptons Hospital and 30,000 transactions per month, utilizing Akoin’s Atomic Swap technology, Merchant Services, and Akoin Credit and Debit Cards.

With M-Pesa currently dominating the fintech and payment industry in Kenya, Akoin is projected to be number two in the country by 2022.

Beyond Kenya, the successful pilot Akon Akoin test is a boost for Akon City project in Senegal. The crypto would be adopted in the smart city, which is being built and should be ready by 2023.

United States engineering firm KE International awarded the singer a $6 billion contract to build the smart city in Senegal.

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