Apollo Fintech is expected to help launch a
resource backed cryptocurrency for Zimbabwe, a country plagued with fiat currency
troubles.
According to Apollo Fintechâs various twitter handles, it had entered into an agreement with Zimbabweâs largest financial services group, CBZ Holdings to develop and implement 3 of the tech firmâs national solutions for the southern African country.
According to Apollo Currencyâs twitter feed, Zimbabweâs CBZ had signed a memorandum of understanding (MOU) with Apollo Fintech.
Premature celebrations?
The news immediately generated excitement within Zimbabweâs small but vibrant crypto community while the value of APLâthe fintech companyâs crypto tokenâ also reacted to the news by rising by approximately 20% following the âbreaking newsâ.
Interestingly however, CBZ is has not formally acknowledged this and efforts to get a comment from the companyâs officials have so far yielded little almost three weeks later (at the time of writing.)
Furthermore, as the news began filtering through, the rumours at CBZ suggested Apolloâs Steve McCullah might have jumped the gun.
A key individual within CBZ Holdings could neither confirm nor deny if indeed an MOU had been signed while another official only commended alert journalists for bringing this (Apolloâs announcement) to the companyâs attention and that the group would take things from there. Both individuals refused to be identified at this moment in time.
This lack of clarity about this potentially game changing solution has some crypto enthusiasts worried and matters are not being helped by Apolloâs past reputation.
Allegations of pump and
Posted from my blog with SteemPress : https://africablockchainmedia.com/news/apollos-incursion-into-zimbabwe/2020/03/31/