Azteco’s mission to democratize finance
Azteco’s foundational belief centers around making the global financial ecosystem accessible to the unbanked. Jack Dorsey, the former Twitter CEO, supports this vision wholeheartedly, emphasizing the immediate need and availability of technology and resources to bring this to life.
By launching Bitcoin gift cards, Azteco envisions raising Bitcoin’s prominence, making it as ubiquitous and reliable as traditional currencies like the US dollar.
CEO Akin Fernandez highlights Azteco’s broader ambition: creating a world where Bitcoin spending becomes as commonplace as using fiat money. Centralized control of these currencies can often result in corruption, a pitfall Azteco plans to sidestep using technology.
Their approach? Transitioning the power of currency issuance from centralized entities to computer programs, positioning Bitcoin as an unbiased global synthetic currency.
Reaching out to the unbanked
With a network stretching across 200 countries and encompassing nearly 600,000 payment locations, Azteco’s potential impact is monumental. Consider the U.S., where almost 4.5% of households lacked banking access in 2021. This restriction impedes their ability to participate in the online market space, secure bank loans, or transact digitally.
Bitcoin, in Azteco’s view, offers a comprehensive solution: a global financial platform that’s operational 24/7, offering quick, scam-free transactions.
Dorsey’s unwavering dedication to Bitcoin
Jack Dorsey’s involvement with Azteco isn’t his sole venture into the crypto realm. Earlier in June, he pledged $5 million to support Bitcoin developers, a sum earmarked for distribution over the next five years, demonstrating his commitment to Bitcoin’s continued evolution.
Dorsey’s contributions extend beyond mere monetary support. He’s actively engaged in developing Web3 talent in Africa, and his co-founding of the Bitcoin non-profit Btrust with Jay-Z speaks volumes.
Btrust’s recent acquisition of Qala, dedicated to training African Bitcoin and Lightning engineers, represents a monumental step. By rebranding Qala as the Btrust Builders Program, the organization emphasizes a combined effort to bolster Bitcoin development in Africa. This acquisition showcases the importance of equipping talent with the right resources, ensuring the future growth of Bitcoin expertise in Africa.