With Alpha MBM’s financial investment, Venom Blockchain strives to enhance cryptocurrency utilization for Africa, a continent currently facing challenges in cashless transaction methods. The partnership between these two dynamic forces signals a promising future for Africa’s digital currency landscape.
Alpha MBM Group, a leading organization across Africa, has been significantly contributing to the growth and development of various sectors, including mining, aviation, oil and gas, as well as the digital transformation of government bodies. Its latest venture is a substantial $4 billion investment in an oil refinery project in Uganda.
Through its investment in Venom Blockchain, Alpha MBM Group brings its compliance expertise to the table, joining forces with Venom. This partnership will concentrate on the creation of stablecoins and Central Bank Digital Currencies (CBDCs), the establishment of cryptocurrency exchanges, and the launch of projects involving the tokenization of real-world assets in specified regions.
The collaboration will adhere strictly to regulatory guidelines, ensuring that all digital currency-related activities, from developing tokenized assets to managing cryptocurrency exchanges, receive the necessary approval and are conducted in compliance with the Central Banks of Uganda, Somalia, and the Central African Republic.
Chairman Alpha MBM Investments Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum with Venom Foundation CEO Christopher Louis Tsu
On March 19, 2024, Alpha MBM Investments Group, operated by His Highness Sheikh Mohammed bin Maktoum bin Juma Al Maktoum of the Dubai Royal Family, disclosed their financial involvement with Venom Blockchain.
This groundbreaking alliance between Alpha MBM Investments and the Venom Foundation marks a pivotal step forward in enhancing Africa’s digital finance sector. The partnership is aimed at boosting financial accessibility, increasing the efficiency of transactions, ensuring the stability of digital currencies, and maintaining high-security standards, thereby empowering people and businesses across the continent. Their dedication to forging connections within the wider financial community highlights their belief in the transformative impact of collaborative efforts. This strategic partnership is poised to revolutionize Africa’s economic framework, setting the stage for a future that is both more prosperous and technologically interconnected.
Partnership Goals:
- Central Bank Digital Currency (CBDC) Development: Work together on crafting CBDCs that cater specifically to the needs of African countries.
- Crypto Exchange Launch: Create regulated, secure platforms for trading digital assets, ensuring transparency and safety.
- Tokenization of Real-World Assets: Convert physical assets such as property, commodities, and financial securities into digital tokens, opening up new investment channels and enhancing market fluidity.
- Banking Integration: Work with local banks to weave digital financial services into the existing fabric of the banking system.
- Merchant Engagement: Collaborate with various merchants and service providers to enable digital currency transactions for everyday purchases.
- Digital Wallet Creation: Build secure, intuitive digital wallets, including both custodial and non-custodial options, to simplify the use and management of stablecoins.
- Educational Initiatives: Roll out educational efforts and workshops targeting diverse demographics, including those in both urban and rural locales, to drive adoption and understanding of digital currencies.
- Regulatory Cooperation: Coordinate with central banking and financial regulatory bodies to devise a regulatory landscape that backs digital currencies, aligning with both national and international financial laws.
The recent signing of a Memorandum of Understanding (MoU) cements this partnership, underscoring their joint commitment to championing technological progress and the responsible expansion of digital currencies in Africa.
