RATE Group | Grammy-Nominated Artist Akon to Launch Cryptocurrency on Stellar
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Grammy-Nominated Artist Akon to Launch Cryptocurrency on Stellar

01 Mar Grammy-Nominated Artist Akon to Launch Cryptocurrency on Stellar

Posted at 13:14h in Cryptocurrency News by

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Multi platinum-selling recording artist Akon has chosen to build his Akoin cryptocurrency ecosystem on top of the Stellar blockchain.

Akoin co-founder and president Jon Karas said they chose to launch the project on Stellar due to sharing similar values.

“Akoin selected Stellar’s distributed, hybrid blockchain due to a shared vision for creating global financial inclusion, particularly in areas such as Africa,” he explained in a Feb. 28 announcement.

Part of Stellar’s mission is to help bank the unbanked and Akoin’s spokesperson highlighted the fact Stellar was already working with businesses in Africa and could help with the project’s planned Dapps and micro-loans.

Swapping one currency for another

The Akoin utility token will be compatible with Stellar wallets and interoperable with all digital assets and fiat currencies supported by the Stellar network.

Users will be able to instantly swap from one currency to another and Karas cited the Stellar Network’s ability to…

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