Commercial Bank of Zimbabwe (CBZ) Joins Apollo Fintech Platform
After months of evidence and suspicion by the Apollo community, the results of the hard work on the back end of Apollo’s team is now glowing. Apollo is setting standards in the financial technology (Fintech) industry, and Zimbabwe is taking the lead for the development of its economy.
For a blockchain and cryptocurrency platform to weather the storm, it must innovate and create use cases that will encourage adoption on a wide scale and in various industries. Steve McCullah, Apollo Fintech’s CEO, posted in the Apollo Telegram room that soon they’ll be approximately 20 million new wallets on the blockchain. Due to the interest of nations in that region, those numbers could easily double or triple.
Steve is a man of his words, and today he delivered a soft launch of a planned joint announcement with partners that the country in question is indeed Zimbabwe. It was long coming because Apollo initiated a Sandbox project with Zimbabwe during the fourth quarter of 2019. We knew that Steve visited Zimbabwe several times in the last few months based on the images he shared with bank officials and the welcoming spirit of the Zimbabwean people.
Although facing difficult times due to inflation, Zimbabwe, a nation of more than 14 million as of 2019, is one of the largest gold producing countries in the world. Apollo Fintech uniting with the Commercial Bank of Zimbabwe illustrates that financial technology is essential for the stability of nations experiencing similar situations. According to Steve, implementation has started, and full details of the signed agreement will come at the time of the joint announcement.
This unity is the biggest accomplishment of any blockchain in the crypto ecosystem. In the past, Cardano and the Ethiopian Ministry of Science and Technology signed an MoU for their Agricultural development. XRP and Ripple secured deals with banks and other financial companies around the world. There have been inroads along the way towards crypto and blockchain adoption. But, none of those agreements are on the high level of the Apollo Fintech and the CBZ agreement. These two bodies just took blockchain to another the highest heights, and at the same time, created a history that financial experts will reference for decades.