Electroneum (ETN), the crypto payments network, has announced the expansion of its service coverage to four additional West African countries that include Benin, Togo, Côte d’Ivoire, and Sierra Leone.
It has been reported that the move brought the company’s African service coverage to nine nations, with Nigeria, Senegal, Mali, Gambia, and Guinea-Bissau already in the mix.
However, with over 4 million registered users, Electroneum’s African push has focused on utilizing its ETN token for utility bill payments and mobile airtime subscriptions through the company’s mobile app.
Nigel Pooley, the head of Business Development at Electroneum, said:
“We are very pleased with the hundreds of electricity top-ups that have been completed in Nigeria, where we have hundreds of Electroneum users.”
The report said that according to Pooley, the electricity top-ups feature is creating ETN utility across the company’s suite of products and services.
“Most of these transactions come from our AnyTask freelancers.”
Likewise, AnyTask is a freelancing platform powered by Electroneum that is reportedly gaining significant patronage.
Pooley revealed that the company was working to partner directly with electricity companies and mobile network operators. The goal is to ensure that users enjoy base rates on electricity top-ups and mobile airtime recharge payments.
As per the sources, for now, most ETN-based bill payments and airtime subscriptions occur through crypto-friendly third-party agents in Africa.
Pooley further stated:
“We have already managed to land direct deals with two mobile network operators, The Unlimited in South Africa and Cellcard in Cambodia.”
Thus, he concluded:
“But the truth is that there’s very little appetite for crypto amongst these two industries as they believe the risks have yet to outweigh the benefits.”