East Africa is set to welcome a new cryptocurrency exchange backed by a formidable list of industry heavyweights looking to tap into a continent full of potential users.
Coinbase (NASDAQ:COIN) Ventures, Alameda Research, Huobi Ventures and other prominent venture capital firms and angel investors have contributed $23 million to launch MARA. The exchange will initially operate in Kenya and Nigeria, offering new users a basic exchange platform to acquire, trade and withdraw cryptocurrencies.