Pan-African Bank, ABSA, Set to Join Contour Blockchain Network to Enable a Digit...

Contour, a global network of banks, corporates, and trade partners digitizing trade financing documents such as letters of credit, has announced that Pan-African ABSA Corporate and Investment Bank (Absa CIB) is finalizing negotiations to join the network.

It has been a busy 2 days at #GTRAfrica 2023 in #CapeTown!

We are excited to offer @Absa_CIB clients a fully digital end-to-end #letterofcredit solution and together, unlock more potential for trade growth across #Africa.

Read our statement here: https://t.co/KSgzsJxh5R pic.twitter.com/H1d4jT58Vq

— Contour (@contourtrade) March 17, 2023

This means that clients of the banks shall be able to adopt a fully digital end-to-end Letter of Credit (LC) settlement process, with the The African Continental Free Trade Area (AfCFTA) which is predicted to boost intra-Africa trade by 52.3 percent and expand the size of the continent’s economy to US$29 trillion by 2050, one of the incentives for the deal.

“Africa is an emerging and exciting opportunity for trade finance digitisation, especially with the promise of AfCFTA in creating the first continent-wide free trade area. This will be crucial in unlocking more potential for trade growth across Africa and to its key trading partners. ABSA is placing itself at the forefront of promoting sustainable growth and development for its clients.” said Carl Wegner, CEO at Contour

A letter of credit, or a credit letter, is a letter from a bank guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount. If the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.

• South Africa
• Seychelles
• Ghana
• Tanzania
• Kenya
• Mozambique
• Uganda
• Botswana
• Mauritius
• Zambia

In the world of crypto trading, the yearn for financial freedom cannot be overemphasised, however, very few exchanges are able to truly give this to their traders. Bitfinex exchange, trusted by worldwide professional traders and whales with enormous liquidity, is one of the few exchanges around the world keeping up with new token listings and initiatives in promoting financial freedom to nurture the crypto community as a whole.

Bitfinex listing of the innovative wrapped Minima ($WMINIMA) token, an ERC-20 token, is aimed at helping to build a truly decentralized network that empowers freedom all around the world and increases access to Web3 for any person with a mobile or IoT device.

Bitfinex is one of the first crypto exchanges to list WMINIMA; built on the world’s first mobile-native Layer 1 blockchain.

Minima’s presale for WMINIMA, started on February 14, 2023, with 10 million tokens currently acquired, out of the total supply of 125 million $WMINIMA tokens. Traders on Bitfinex are taking this new innovation as a huge opportunity to become the early adopters of the $WMINIMA token, by making deposits and purchases during the presale period. Effective 21st of March, 2023, on Bitfinex, trading for WMINIMA against the US Dollar (USD) and Tether tokens (USDt) will be available for all traders. 

What is WMINIMA?

Wrapped Minima (WMINIMA) is a wrapped version of Native Minima (MINIMA) which has been issued on the Ethereum blockchain. Wrapped Minima (WMINIMA) enables Minima to be tradable on exchanges shortly after its Token Generation Event, without waiting for the technical integration of Native Minima ($MINIMA) onto exchanges, scheduled for Q3/Q4 2023. WMINIMA has an initial circulating supply of 98,100,000 coins and a total supply of 125,000,000 coins, with a listing price of $0.30.

Why invest in WMINIMA on Bitfinex exchange

Bitfinex has been in existence for over 10 years and as one of the oldest exchanges, it has gained the trust and loyalty of its traders, having strongly gone through the test of time and various market turbulence. Bitfinex is known for its robust service and security during all market environments. 

Bitfinex stands out as one of the first cryptocurrency exchanges, founded in 2012 to deliver the finest trading experience for retail, professional and institutional customers. Born at the dawn of the bitcoin revolution, Bitfinex is driven by the ethos of financial freedom and  focused on creating simple , dependable and accessible technology that promotes freedom. 

With no centralised servers and unnecessary intermediaries and at near zero-cost, Bitfinex brings financial inclusion and financial freedom to less-advantaged and emerging communities around the world, particularly where there is currency volatility. 

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Sign up and trade WMINIMA on Bitfinex today!

Get the Wrapped Minima (WMINIMA) on Bitfinex today. WMINIMA is available to trade with:

• US Dollar (USD), and
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Key benefits of Minima

Minima is an ultra-lean blockchain protocol that runs in full on a mobile, enabling anyone to run a fully validating and constructing node. By adopting this approach, Minima has built a completely decentralized network, one that is scalable, inclusive, while remaining secure and resilient.

Minima is a blockchain that runs in full on a mobile, which enables anyone to participate in the validation and construction of the chain, with a simple app download. As a result, the Minima network already has hundreds of thousands of fully validating and constructing nodes, distributed in over 187 countries. These nodes enable a censorship-resistant network to exist, one where individuals can exchange freely without intermediaries, and cooperate as equals. 

Minima also has a hard-capped supply of 1 billion coins that will slowly reduce over time as a result of a mechanism known as The Burn. Its simplistic feature makes it easy for anyone to create custom tokens or NFTs on the Minima blockchain, which can then be exchanged in the same way as Minima coins. 

Minima’s mobile-native decentralized applications can easily be built in JavaScript, HTML and CSS to create user-friendly interfaces for people to interact with its smart contracts. Partnerships to integrate Minima into existing businesses are already underway, which will increase the credibility and demand for the Minima network and its coins.

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