Cryptogem Global Defies Zimbabwe’s Central Bank with New P2P Bitcoin Exchange
Cryptogem Global, a new peer-to-peer bitcoin (BTC) exchange, has opened in Harare in defiance of the Reserve Bank of Zimbabwe’s ban on cryptocurrencies. The decentralized platform allows Zimbabweans to buy and sell BTC without the need for intermediaries such as legacy financial institutions.
A Globalized Cryptocurrency Exchange
“Cryptogem Global is a … bitcoin trading platform where people around the globe can exchange their local currencies and e-money to bitcoin,” Melissa Mwale, co-founder and chief executive officer of Cryptogem Global, told news.Bitcoin.com.
Mwale said the idea is to create a borderless platform that will not limit trades to a particular country. Offering an example, she explained that the company aims to provide a service that will allow “someone in Zimbabwe to buy from someone in the U.K. using Paypal, Skrill or Western Union.”
For some time, virtual currencies have operated under…
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