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KubitX – Africa’s Pioneer Exchange Closes Exchange; Announces Future Plans

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KubitX Exchange shut down
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KubitX Africa’s Pioneer exchange has concluded plans to close down her exchange platform while focusing on a better option in the KubitX wallet. The team made this known to all users in a newsletter to users released on the 22nd of May, 2020 expressing how this would benefit the users and team alike. The Exchange closure will not affect token holders as all coins can be moved to the KubitX Wallet.

Read below to get the full details:

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Dear KuBitan

Over the last 18 months we have continued to work on how we can drive financial inclusion in Africa and other emerging markets. We exposed two main blockchain related products to the market to see how well they help to accomplish this goal. 

In the course of those months, we obtained data and business intelligence to measure the impact of those products on our core mission. 

We are without doubt convinced that our KBX Wallet is better suited to breaking down financial barriers and borders and helping more people participate in the ever evolving digital economy We are yet to do a public launch of our KBX Wallet but we already have almost 2,000 users of the beta release across the globe. 

The Exchange on the other hand requires an enormous level of effort  to impact the common man on the streets.Consequently, we have taken a hard but savvy business decision to focus where our strength lies and follow the numbers, with the ultimate aim of connecting more people in emerging economies and empowering them to do business and share value across borders leveraging Blockchain and other exponential technologies. 

We therefore will be shutting down the KuBitX Exchange in the next 7 days and implore all our amazing customers to kindly move their coins and tokens to other relevant wallets.

Our KBX Wallet, currently available on the Google PlayStore can be used to store XLM ( Stellar Lumens), KBX (Kubitcoin), and NGNX (Naira Tether), GHCX (Ghana Cedi Tether) at the moment and many other crypto assets and stable coins in future. Support for BTC and ETH storage will resume later this month at a date we will announce later via our Telegram Announcement Channel. 

Kindly move all your assets from the KuBitX Exchange by or before 27th May, 2020 to avoid any loss of funds. We are deeply sorry for the inconveniences caused and hope you can understand and appreciate this bold decision to focus our strength on what will truly help us deliver value to all KuBitans. 

We are also wrapping up the iOS version of our KBX Wallet and should have it ready for our expectant community members in June, 2020.

Download KBX Wallet on Google playstore 

If you have any questions and would like to speak to us directly or learn more about our KBX Wallet, please join our weekly blockchain training events on Fridays here

You may also write to us directly on support@kubitx.com or contact our support via Telegram


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