EMURGO Africa’s Adaverse Announces Investment in Scalex to Transform Crypto Trading Experience in Africa

What is Scalex?

Scalex is building solutions that ensure African users can easily bridge into the crypto ecosystem seamlessly and with ease. Building features on Web3, Scalex prides itself as the first automated revenue-share peer-to-peer (P2P) platform. Scalex uses industry-leading features to provide safety, assurance, and an automated crypto platform by merging the best of TradFi and DeFi infrastructures.

Why Scalex?

Africa’s cryptocurrency payments grew 1,200% between 2021 and 2022, making it one of the fastest-growing marketplaces among developing economies. The growth was notably driven by inflation, the devaluation of fiat currencies, and growing interest in the cryptocurrency market, especially for cross-border remittances. Due to the government restriction on cryptocurrency transactions, the P2P trading model has become commonplace. However, beyond the offering of licensed cryptocurrency exchanges, informal trading also happens frequently across social media, especially on chat applications such as Telegram and WhatsApp. This exposes parties to untold risks such as Ponzi schemes disguised as crypto projects, unprotected trade deals, and exposure to fraud.

About Adaverse

By incubating and investing in Cardano-based platforms and building web3 solutions in DeFi, NFT, Metaverse, and gaming, Adaverse is a Cardano accelerator that strives to support the growth of chosen projects and the success of entrepreneurs in Africa. Established to identify and provide valuable support to crypto-native businesses in Africa, Adaverse offers funding and a mentorship program involving 12 weeks of intense training and 24 hours of 1:1 coaching from a team of industry veterans and aficionados with an intensive knowledge of Cardano’s environmentally sustainable blockchain.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Adaverse Accelerator

Adaverse Accelerator

83 Followers

Adaverse is a Cardano Ecosystem Accelerator that aggregates entrepreneurs, strategists and mentors building its most robust foundation in Africa.