BitPesa is a digital foreign exchange (FX) brokerage that uses the cryptocurrency Bitcoin for business-to-business payments to and from African bank accounts and mobile money wallets. With operations in six sub-Saharan countries, it has become a market-maker for African currencies, and it is also licensed as a payment institution in the UK.
Chief executive Elizabeth Rossiello founded the start-up in late 2013 with the aim of improving the ease of doing business across Africa. The risk – and potential losses – associated with turbulent and illiquid emerging market currencies is a challenge for companies operating on the continent.
