Secretum, an all-in-one ecosystem for messaging, crypto transfers and NFTs, to bring its instruments to Africa and Asia
Secretum, a high-performance privacy-focused crypto ecosystem on Solana, is set to ride the crypto euphoria and messaging boom in some emerging economies.
Africa and Asia lead the way for crypto in 2021
“Banking for the unbanked” remains one of the most impressive yet difficult use cases for cryptocurrency since the early days of its mass adoption.
Distributed peer-to-peer value transfer tools can change the narrative for nations and states that are lacking transparent, resource-efficient and low-cost financial institutions.
Of the top 10 countries ranked by the share of the population that holds either Bitcoin (BTC) or altcoins, six leaders are located in Asia and Africa.
As per the latest estimations, between July 2020 and June 2021, citizens of African countries moved $105 billion in digital assets, which is 1,200% larger than one year ago. One in three Nigerians and one in five Vietnamese holds cryptocurrency, which is 4-5 times higher than this indicator for developed countries.
This impressive surge is driven by a combination of catalysts: the relentless decline in the purchasing power of local currencies, lack of confidence in formal banking institutions, insufficient number of bank offices, high commissions for cross-border remittances, etc.
And here comes Secretum to the party.
Why is Secretum a solution for the unbanked?
Launched in 2021, the multifunctional Solana-based application, Secretum, combines a messaging service, a non-custodial crypto wallet, an NFT marketplace and an OTC trading platform.
As covered by U.Today previously, its mechanism is 100% decentralized: the entire set of processes relies on node infrastructure. The developers of Secretum prioritized a “mobile-first” approach so that all of its operations are available on the go.
It is also exploring the opportunities opened up by the hot segment of non-fungible tokens. Secretum provides a toolkit for storing and sending Solana-based NFTs of all types.
Also, Secretum works like a secure peer-to-peer messenger: its clients can instantly send text messages with zero fees. Unlike centralized heavyweights WhatsApp and Telegram, messages on Secretum are protected from data leaks.
As cryptocurrencies and peer-to-peer technologies gained popularity in Africa and Asia, the Secretum team is heavily focused on aggressive expansion in both regions.
