Connect Coin: Redefining Financial Instruments

Mar 7, 2019 at 10:55 Update Date :Mar 7, 2019 at 10:55 UTC

Cryptocurrency International Tanzania limited (CITL), a private limited liability company based in the United Republic of Tanzania is planning to revolutionize the global payment system through the use of emerging blockchain technology and cryptocurrency. The company is known for taking initiatives in the field of the financial technology sector in Tanzania. CITL has created a decentralized cryptocurrency “Connect Coin (XCON)”. To create the Connect Coin, CITL has utilized the market volatility of not only fiat currencies but also cryptocurrencies.

Connect Coin (XCON)

Connect Coin is designed to facilitate money transfer and global payment system. CITL has created an ecosystem for the token where it will provide the services on CITL Exchange Platform, Connect Marketplace Platform, CITL Merchant Platform, CITL Training Academy, and Connect Card. Connect Coin will also provide investment opportunities to small and medium-sized investors. CITL platform will not only facilitate crypto trading but people will also be able to make payments and transfer money. With Connect Coin users will be able to pay all utility bills and purchase various things including movies tickets, medicines, tickets, etc.

Connect Card

CITL also has plans to introduce its own ATM cards which will be known as Connect Card. Connect Card will operate on all registered Point-of-sale (POS) terminals. It is a blockchain based credit card which will improve the digital payment system. On the ATM, with the help of Connect Card, users will be able to withdraw their funds directly in fiat currencies. The users even do not have to worry about the settlement of the transactions. The transaction will be confirmed instantly at the time of money withdrawal. Means there will be no delay between the authorization of the withdrawals and actual fund transfer. This way Connect Card will accomplish the goal of streamlining the crypto transactions and making the digital assets useful in real life situations.

As Connect Coin is designed to connect the whole world by simplifying the means of payment and money transfer. The Connect Global Marketplace will help the buyers and sellers to connect with each other. On the marketplace, the consumers will be able to pay for goods and services through Connect Coin. The consumers will also be able to pay for the goods and services and transfer money through Connect App and Connect Card to local as well as international businesses.

Benefits of Choosing Connect Cards

Connect Card offer several benefits to its users including :-

1) Instant transaction confirmation: When you withdrawals funds using Connect Card, your transaction will be confirmed in just a few seconds while other cryptocurrency cards take very long to confirm the transaction. The credit goes to the great and advanced system of CITL.

2) Low fee: The cost of converting Connect Coin into fiat currencies is very low so you do not have to worry about the fees while converting your Connect Coins into your local currency.

3) Security: Connect Card is secure like your bank’s credit or debit card. In case you lost your Connect Card block the functions of the card by using Connect App. The Connect App will be connected with Connect Cards.

Connect App

Connect App facilitate the users to store, send, and receive Connect Coins with other users in the network. The Connect App also enables the users to pay for goods and services to the sellers worldwide who accept Connect Coin without the hassle of converting currencies. In short with Connect App users will be able to

  • Store their coins
  • Make cross border payments at a low fee
  • Leverage an easy and efficient way to pay for goods and services

Connect Coin is going to play an important role in facilitating the cross border payments. The consumers around the world will be able to buy goods and services, make payment, and transfer money via a single coin. On the other hand, the Connect Card will facilitate the users to withdraw their available Connect Coins directly into their fiat currency. Such kinds of facilities offered by CITL are surely going to redefine the global payment system.

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