Safaricom PLC is opening an online Mobile money / Cryptocurrency exchange
Safaricom PLC is opening a new department. An online Mobile money / Cryptocurrency exchange. Simply put, it’s an online platform for customers/users to convert between MPESA/Airtel money to Bitcoin and other Cryptocurrencies and vice versa. In an email seen by topnewsupdates.co.ke team Safaricom partner Top Image the Telco’s partner is seeking recruitment for Online customer Service representatives. These positions are part office, part remote (work from home).
This is a full-time job and for successful candidates, a laptop, internet connection and other equipment are provided when working remote.
To be considered for this position, a candidate must be approved by at least one of their partner exchanges.
How can a crypto exchange generate revenue?
There are numerous ways to make money through the cryptocurrency exchange industry. Transaction fees, withdrawal fees, deposit fees, and listing fees are the simplest ways to generate income.
In addition to these, permitting margin trading allows users to purchase items by pledging cash or a digital asset as collateral, which the exchange owner may utilize for a variety of activities. A user can hold their cryptocurrency on the exchange and join in the staking pool to earn prizes and interest in return by staking. When new cryptocurrencies enter the market, they can be listed in exchanges using the IEO launchpad, allowing crypto users to research the new coins. IEO launchpad is an additional feature that can be included into the exchange. There are fees associated with listing in IEO, and the exchange owner can profit from these fees.
Is the trade of cryptocurrencies still a successful venture?
Due to a number of factors, the cryptocurrency exchange industry is currently and will always be a lucrative one, regardless of location, time, or market fluctuations. Crypto exchange is unaffected by market movements because it did not enter the market at a time when it was rising.
Government regulation on crypto
Officials in the banking and finance industries have recently changed their position on cryptocurrencies and advocated for the establishment of a technical group to draft legislation governing the industry and its participants.
The five regulatory agencies have suggested forming a committee to draft the rules. These agencies are the Central Bank of Kenya (CBK), the Capital Markets Authority (CMA), the Insurance Regulatory Authority (IRA), the Retirement Benefits Authority (RBA), and the Sacco Societies Regulatory Authority (Sassra).
The CBK announced on 22, December that the Joint Financial Sector Regulators Forum (JFSRF) will look into the suggestion from the National Treasury and Economic Planning to establish a working group to advise the Treasury CS on crypto laws.
“To consider the recommendation of the National Treasury and Economic Planning for the formation of a Technical Working Group of concerned regulators to make recommendations to the Cabinet Secretary on the establishment of a comprehensive oversight framework on crypto assets activities and players in Kenya,”
the statement read.
