Zimbabwe’s Finance Minister stated crypto solutions could “lower charges for diaspora remittances”

The Minister tweeted after a visit to a incubation hub for crypto in Dubai, reinforcing the need of crypto-based solutions for economy

After a visit to the DMCC Crypto Center in Dubai, Mthule Ncube, Zimbabwe’s Finance Minister, talked once again about the advantages of the cryptocurrency system for payments and other services related.

In a tweet, Ncube reinforced the idea of incorporating crypto-based solutions in the country to lower the cost of remittance across borders. 

It is not the first time Ncube expressed his thoughts about crypto. Last year, just after becoming finance minister, he defended that Zimbabwe should “invest in understanding emerging innovations like Bitcoin” and that Zimbabwean authorities could emulate countries like Switzerland which were already ahead in the matter. 

Mthule Ncube's statement was controversial, considering all the repercussions arising from the use or acceptance of cryptocurrencies in other countries. 

However, in Zimbabwe’s case, the talk was around the fact that the African country doesn’t need to go to an incubation hub in Dubai to address the issue since the country itself already has a lot of blockchain and crypto start-ups.

That’s what Victor Mapunga, CEO of Flexfintx, responded on a tweet:

“We already have blockchain & crypto companies in Zimbabwe such as Flexfintx. Work with local players.”

In any case, the urge of adopting cryptocurrency-based solutions for economic matters in Zimbabwe already indicates a good sign to the global growth of the digital revolution of blockchain and digital assets in general.

The African country would be following the footsteps of El Salvador, Ukraine and many others, which are already ahead in this race. 

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