Virtual Crypto Technologies has earned a significant deal in South Africa. But what’s Virtual Crypto? It’s a technology company dedicated to making cryptocurrency accessible to the general public on a global basis.
Virtual Crypto specifically develops payment solutions for businesses and consumers, which combine Application Programming Interfaces and Mobile Applications for implementation via ATM’s, PCs, tablets and other mobile devices.
As the developer of innovative software and hardware for cryptocurrency via point-of-sales systems, ATMs, tablets, PCs and mobile devices, Virtual Crypto Technologies Ltd announced last week that it has signed an Exclusive Distribution Agreement with a third party company, Virtual Crypto SA Ltd., to begin selling Virtual Crypto’s products in the Southern African Region.
Virtual Crypto SA Ltd. is dedicated to providing cryptocurrencies payment and crypto-fiat trade solutions to the Southern Africa through secure, insured and friendly to use products. The company distributes cryptocurrency products to Southern Africa’s main street.
The agreement will generate immediate revenue for Virtual Crypto. The distributor has committed to acquiring both hardware and software solutions, resulting in significant purchase. In addition, Virtua-Crypto will receive ongoing royalties and support fees in this six figure minimum multi-year agreement.
Virtual Crypto recently completed development of their fourth crypto solution for the B2B and B2C marketplace and has pilot deployments and business deal in the Middle East, despite officially launching in January 2018.
This agreement is another step for Virtual Crypto to penetrate global markets. Territories in the agreement include; South Africa, United Republic of Tanzania, Zambia and Zimbabwe,Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland.
Alon Dayan, CEO of Virtual Crypto Technologies Ltd. Commented: “Cryptocurrency is increasingly popular in the Southern African Region, which is a strong emerging market. Cryptocurrency provides investors and businesses with an opportunity to diversify their portfolio. In addition, the Virtual Crypto solutions offer businesses and consumers a secure payment alternative with real-time availability and broad accessibility.”
Prior to Virtual Crypto launching in the Southern Africa Region, using cryptocurrency for day-to-day transactions has been burdensome and effectively impractical due to lack of appropriate and accessible technologies available within the developing countries. One barrier Virtual Crypto overcomes is the typical delay in completing cryptocurrency transactions. Virtual Crypto’s proprietary technology works through those challenges, offering seamless transactions and high-level secure consumer experience by scanning multiple exchanges simultaneously to provide the lowest rate in real-time, within seconds.
Alon Dayan said: “We felt that by creating a solution that was both platform and cryptocurrency agnostic, the masses can employ the advantages of utilizing cryptocurrency for all of their needs. While we’ve already demonstrated success in our solutions in other markets, we believe the advantages will be even greater in locations, such as the developing countries within Southern Africa, where local economies experience volatility.”
While many companies within the crypto industry do not trade on traditional exchanges, Virtual Crypto is listed on the OTC. The placement on the OTC market is consistent with Virtual Crypto’s objective of being a stable business in an exciting industry, offering growth potential, while built for the long run. By being immersed in the crypto field, Virtual Crypto is able to leverage significant momentum and success, as this distribution agreement suggests, yet allows for a continued positive trajectory. Virtual Crypto prides itself on building a sustained company and doesn’t compromise on this approach or take advantage of the current unsavory market trends behind crypto investments.
The distribution agreement between Virtual Crypto and the South African Development Community closed earlier than anticipated. Dayan explained, “We have no interest in pursuing quick wins that do not benefit our customers and our shareholders. Our technology and solutions offer real value and sustainable success for years to come. This agreement, and the timing of this deal, further validates our team’s shared vision. We look forward to announcing additional news as our technology and our business pipeline advances as we expand – extending to other emerging markets and fully developed economic regions around the globe.”
Note: this entry was based on a press release sent to Zennie62Media.
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