Asia and Africa lead the way in terms of the global growth of cryptocurrency adoption.
- A total of $105.6 billion worth of crypto assets were traded in Africa between July 2020 and June 2021, a growth rate of 1,200% year-on-year. P2P trading dominates transaction volumes:
These markets have clear, unmet demands that are driving this boom.
Financial infrastructure is lacking – Africa and Asia are the most unbanked continents. Nearly 70% of adult population in Vietnam, Morocco and other countries do not have bank accounts.
Moreover, mobile penetration rates in Africa are 44%, and Asia-Pacific is 42%. Crypto’s decentralized nature makes it unnecessary to have a financial infrastructure. Instead, people can use their smartphones to trade and make payments with others who own crypto wallets.
Unstable currencies – Many Asian and African countries have seen significant currency depreciation in the last 5 years. However, Bitcoin has risen more than 500% while Ether has risen over 2,900%. A lot of people turn to crypto-assets in order to fight inflation, increase their incomes and preserve their assets’ purchasing power.
Expensive Remittances – Remittances from abroad are an important part of the economies of many Asian and African countries – constituting 10% of GDP in the Philippines and 8% in Egypt. The highest global remittance fees are in Sub-Saharan Africa, which has more than 8%. Many have opted to transfer money directly via cryptocurrency wallets, bypassing the fees.
This phenomenal growth has been accompanied by an equally powerful trend – the boom in mobile penetration and mobile app usage rates:
- Asia is now responsible for 64% worldwide mobile app downloads.
- The number of African mobile subscribers will grow from 477 million in 2019 to 678 million in 2025 – a more than 40% increase, equivalent to an additional 201 million
- The number of Africans who have installed mobile apps in Africa has increased 41% between H1 2020 and H1 2021.
The messaging apps sit at the top end of the mobile application pyramid:
A startup that harnesses Blockchain’s power to create a secure, user-friendly messaging app is betting on crypto adoption. Secretum.
Secretum: Riding The Convergence of the Mobile & Crypto Megatrends
Secretum (decentralised messaging app) is fully encrypted and decentralized. It was built using the Solana Blockchain. This allows users to send SMS messages, and also trade or exchange crypto assets. These are some of the many benefits:
- All messages are fully encrypted and stored on verified nodes in the Secretum network – meaning hackers can’t access them like in cloud-based messaging services like WhatsApp.
- The most secure and anonymous sign-up process, which only needs the user’s crypto wallet address – no more risks of private data leaks or government interference, an especially relevant danger in many African and Asian countries.
- Users who send messages and contribute nodes to the Secretum network can earn rewards and stakes with their native SER token.
- It is a simple and intuitive interface that allows you to trade P2P cryptocurrencies or Non-Fungible Tokens.
- Record low fees and almost instant trades, thanks to Solana’s capacity for 50,000 transactions per second and an average cost per transaction of only $0.00025.
The combination of a superior messaging app in terms of safety with highly versatile crypto trading capabilities is the key to Secretum’s strategic vision: to become the go-to messaging and crypto app for Asia and Africa.
Secretum: The Ideal Trading & Messaging Solution For Asia and Africa
As Secretum’s Blockchain-messaging capabilities revolutionize communications, its over the counter (OTC) P2P trading capabilities bring unique benefits to crypto-asset owners in Africa and Asia:
High Liquidity – Traders are able to contact each other directly and find hidden liquidity in crypto markets, improving execution times and reducing slippage.
NFT Trading – Secretum lets NFT owners and traders contact each other via their wallet address alone – securely, directly, and at the lowest fees on the market. For African and Asian crypto-owners, this would create a new asset class that will allow them to diversify and preserve their wealth.
High User Friendliness – Asians and Africans are the world’s most assiduous users of mobile money. An estimated 243,000,000 mobile money accounts are located in Asia. In 2020, an estimated $490 Billion was transferred by African mobile money providers. Furthermore, P2P is already the dominant form of crypto trading. P2P is the most popular mobile solution for crypto trading. It allows users to trade and exchange money as well as communicate with each other. Secretum taps into this well-established market – only with a technologically superior solution.
As mobile and crypto penetration continues to grow in Africa and Asia, Secretum will provide a never seen before crypto trading and messaging solution – serving two markets that are day after day quickly merging into a single one. By leveraging this solution, Secretum is positioning itself as the app of choice for 3 billion people in the world’s youngest and most dynamic markets.