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Business trends

African digital payment startup looks to expand in Asia

Kenya-based BitPesa uses bitcoin for international transactions

BitPesa uses cryptocurrencies to transfer money across different regions.   © Getty Images

TOKYO -- A Kenya-based digital payment startup using blockchain technology is seeking to partner with more Asian companies and plans to open an office in the region next year.

The company, BitPesa, offers international payment services to companies, and it can execute transactions in as little as one hour. That quick turnaround means risk exposure due to exchange-rate fluctuations is reduced by about 65% annually, compared with the traditional way of wiring funds through banks. All transactions and related activities through BitPesa are done online.

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