Akon Signs Deal With Kenyan Billionaire Amidst Corona Virus

Award-winning musician Akon's cryptocurrency company, Akoin has secured a deal to become the main currency in Mwale Medical and Technology City (MMTC) in Western, Kenya.

According to their website, Akoin is a cryptocurrency powered by a marketplace of tools and services fueling the dreams of entrepreneurs as they connect and engage across the rising economies of Africa and beyond; created by Akon.

Mwale Medical and Technology City (MMTC) is a USD $2 billion metropolis with a medical and technology complex located within Butere Sub-county, Kakamega County, of the Republic of Kenya.

The City which is home to close to 30,000 people and thousands of businesses was created by Kenyan investor Julius Mwale.

Akon had this to say after inking the deal on Thursday, April 16 which happens to be his birthday, "This strategic partnership with MMTC will give Akoin a dominant position to control the market of 400 million people in East and Central Africa, many of whom rely on mobile digital transactions for their financial services."

According to Cryptoslate, Akon secured the major deal for his cryptocurrency project Akoin which will make it the official currency of a burgeoning tech hub in Kenya.

The deal makes it the first time Akoin will be used both by the public and on such a large scale following its launch in 2018, around the same time that Akon revealed his grand plan to build a "Crypto City".

The deal was also announced on Mwale Medical and Technology City's Facebook page, which partly read, "Today we won a major digital currency partner Akoin for Hamptons Hospital transactions at a block down 2020 conference (Blockchain Covid-19 virtual event) that will support free payment transactions without fees at Mwale medical and technology city (MMTC).

"Akoin unlike other mobile/digital payments in Kenya will not charge fees when used by customers or employees at MMTC.

"The initial pilot beginning in June 2020 will target 3000 to 5,000 customers and workers each performing on average 15 to 20 transactions a month for accumulative transactions of 1 million for the first year.

"It will then expand rapidly afterwards especially capitalizing on the government's ban of cash transactions in Kenya due to COVID-19."

Akoin will also be used in Akon's own 'futuristic' city in Senegal named "Akon City" that started contraction in January 2020.

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