Timeless Capital teams up with Xago Technologies, a South African company

Friday, 14 May 2021 17:17
Timeless Capital teams up with Xago Technologies, a South African company

(Togo First) - Timeless Capital Technology (TCT), the fintech of former Togolese international Donaldson Sackey, has signed a partnership with South African crypto-currency platform Xago.  

This new partnership, coupled with the recent commitment of a new investor, is a milestone in the startup's growth. Xago will facilitate and accelerate the spread of the Timeless Capital Coin, offering a solution that allows its users to make fast and secure transnational money transfers, in fiat (conventional currency- dollar, rand) and crypto-currencies.

"Partnering with Xago is one of the best business decisions we've made, as they are a highly credible and trusted organization that brings crypto solutions and financial independence to customers around the world who can't afford the fees of traditional transfers," said Donaldson Sackey, CEO TCT.

"The timing is perfect as we have developed, tested and launched the functionality they need to bring stablecoin to their customers across the continent in less than 4 seconds and at a fraction of traditional banking costs," said Mark Chirnside, CEO and co-founder of Xago.

Founded in 2016, Xago Technologies is backed by Capitec Bank, which in August 2017 became South Africa's second-largest retail bank by number of customers, adding 120,000 new customers per month. The fintech company develops tailored products and services based on blockchain and crypto exchanges.

The new partnership allows Timeless Capital Technology to implement a stablecoin at 1:1 parity with the dollar.

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