Akoin To Become The Exclusive Cryptocurrency Of The Mwale Medical And Technology City In Kenya

Akoin (AKN), the cryptocurrency developed by American singer Akon, is set to become the exclusive cryptocurrency of the Mwale Medical and Technology City in Kenya.

It has been reported that the trial phase was launched back in November 2020 at the time of the AKN listing on the Bittrex crypto exchange.

However, after the success of the initial pilot, the Akoin crypto is now ready for full deployment in the $2 billion complexes in July. Commenting on the success of the pilot program, Jon Karas, the President and co-founder of Akoin, has revealed that the roll-out was received with “great enthusiasm.”


The Akoin project completed its pilot program in Kenya’s Mwale Medical and Technology City. How swift will the adoption of @AkoinOfficial sweep across Africa? https://t.co/gN2AZNvGJg (Reporting via @OsatoNomayo) — Cointelegraph (@Cointelegraph) February 19, 2021

The report said that once fully deployed, AKN will be available for adoption among 5,000 hospital workers, 2,000 merchants, and over 35,000 residents of the MMTC. In total, the Akoin team estimates that over $5 million in transactions will come from the facility using AKN tokens.

AKN utilization should increase to cover the estimated 20,000 MMTC workers expected by December 2021. By the end of 2022, the Akoin team says that AKN will be the exclusive digital currency of the facility, processing between $1.7 and $2 billion in transactions per year.

Likewise, as part of the planned Akoin exclusivity within the complex, workers and residents can receive their salaries in AKN. The token will also be used for microtransactions, peer-to-peer money transfers, and mobile airtime top-ups among others.   


"Akoin and @BaanxGroup are working in partnership to deliver the future in digital assets payments. The Baanx platform will enable #Akoin users to spend $AKN in the global economy." – Lynn Liss, Co-Founder & COO of Akoin Read more: https://t.co/zHQ7xjtRWY pic.twitter.com/sLpAGhQJvSAkoin.io (@AkoinOfficial) February 18, 2021

It has been analyzed that as part of the project, the Akoin team is reportedly releasing a physical card connected to the AKN wallet that will allow users to transact across 40 million global merchant platforms.

Lynn Liss, the co-founder of Akoin, said that the project plans to use the lessons learned from the AKN deployment in the MMTC as a blueprint for scaling the adoption of the token across the continent.

Thus, Akoin is the planned official currency of the futuristic Akon City currently being built in Senegal. The Akon Foundation is also developing a blockchain incubator in the MMTC.

Source: Cointelegraph

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