17-May-18, Nikkei Asian Review 

BitPesa, a Kenya-based digital payment startup using blockchain technology is seeking to partner with more Asian companies and plans to open an office in the region next year.

African digital payment startup looks to expand in Asia (c) Getty Images Nikkei Asian Review

Image: Getty Images / Nikkei Asian Review

BitPesa offers international payment services to companies, and it can execute transactions in as little as one hour. That quick turnaround means risk exposure due to exchange-rate fluctuations is reduced by about 65% annually.

"Now we are seeing more between Africa and Asia," said Elizabeth Rossiello, BitPesa's chief executive. As of March, about 10% of the transactions that the company handles involve countries in Asia. Africa is "a huge growth market" with the need for goods such as autos and electronics, Rossiello said. For Asian companies wanting to enter the market, BitPesa is "an easy way to start."

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