BitPesa has partnered with Sompo Holdings, a leading Japanese insurer, to enable cross-border payments across its platform.
This comes at a time when Sompo has acquired a 10 percent stake in the digital foreign exchange platform.
A statement issued by Sompo noted that it intends to apply BitPesa techonology in the insurance field.
“Using BitPesa’s technology, developed through various experiments in remittances and settlements, we will extend our presence in the international remittance service market,” read the statement.
On her part, BitPesa’s chief executive Elizabeth Rossielo stated it welcomes partnership with the global underwriter, as it will give customers the ability to transact between different currencies with ease.
“Sompo Holdings is one of the largest Japanese insurance companies and they are looking for new markets and opportunities. We can give them immediate access to these markets. For all the financial services they offer, we can provide all the cross-currency transactions to remove any currency risk,” she said.
Recently, BitPesa partnered with Japan’s remittance service, SBI Remit, to enable cross border payments between Japan and Africa.
BitPesa offers supplier payments across a number of African countries including Kenya, Nigeria, Tanzania, Uganda, Ghana, Senegal, and the Democratic Republic of Congo.