New Digital Currency, Stellar, Aims for Financial Inclusion for Girls in South Africa

February 21, 2015     By : Aditya Khurjekar

We have summarized this news for you: 

  • Stellar is inspired by the crypto-currency, Bitcoin, but is designed as an intermediary between conventional currencies or assets
  • Targeted towards girls in South Africa to educate them on financial decisions as part of their existing social networking experience, with rewards in form of airtime minutes
  • Features are powered by a text based mobile technology, Vumi, used by UNICEF, USAID and Gates Foundation
  • Current supporters of Stellar include Stripe and Praekelt Foundation in South Africa; could expand to Indonesia in coming months
  • Success of service will depend on regulatory approval and wider adoption by other agencies with similar objectives

Stellar
(Sources: stellar.org; vumi.org; MIT Technology Review)

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Aditya Khurjekar

Aditya Khurjekar

CEO & Co-founder at Let's Talk Payments
Aditya Khurjekar is CEO & Co-founder at Let's Talk Payments. Aditya is committed to the LTP vision of building a community of innovators in payments and commerce, an industry that is being transformed by technology and rapid change.

He was the co-founder of Money2020 in 2012, and was previously the executive in charge of Commerce/Payments at Verizon Wireless from 2008-2011, where he was on the founding team that led to ISIS (SoftCard). Aditya is based in Charlotte, NC.
Aditya Khurjekar