ARTIS reward holders with daily pay-outs and will soon be used for cross-border remittance payments.
ARTIS is the native Token of the Artis Turba Exchange that rewards its hodlers daily by distributing 50% of the trading fee revenue generated on the platform to ARTIS holders in proportion to the ARTIS they hold. The rewards are credited to hodlers accounts based on the previous 24-hour cycle’s revenue and is distributed in each currency in which fees were collected.
Since the launch of the platform in September 2018, volumes have grown from a few thousand dollars per day to the current average of $50,000 per day. As volumes grow, so do the daily rewards. Structured as a limited supply token on the Ethereum blockchain. We recently saw an increase in demand for ARTIS from our global community, this obviously supports the price.
Headquartered in South Africa, Artis Turba Exchange offers ZAR (South African Rand) pairs with popular Cryptocurrencies, as well as Crypto-Crypto pairs for the wider global community. The South African market has a high level of interest in Crytocurrencies due to a number of factors such as political uncertainty, hedging against a weak Rand, cross-border remittance payments and investor interest in the future of Cryptocurrency.
Artis Turba Exchange was built to expand the number of quality Cryptocurrencies available directly to the high-level interest South African Market. Having Crypto-Crypto pairs, Artis Turba has also enjoyed significant growth in its global community, especially in Sub-Saharan Africa, Europe, Middle East, South East Asia and Central America.
Since its inception, the founders have realized that blockchain also provides the ideal vehicle to cater for the cross-border remittance market. South Africa as the most industrialized economy in Africa is home to millions of migrant workers from across Africa. These migrant workers have a need to send earned money home, and current remittance services are as burdensome as costly as they are.
Altogether the African remittance market is estimated to process over $1.3 billion per year at average costs of about 12% per transaction. These transactions may take up to 5 days before reaching its intended recipient and KYC procedures require that migrant workers visit a remittance operator’s branch each time that they want to send money home.
Artis Turba is gearing to offer near real-time fiat to fiat cross-border payment at a fraction of the current cost. Being based on blockchain, these transactions will be processed on the same day of sending. By employing one time KYC procedures, the need to visit branches will be eliminated.
This offers dramatic improvements in terms of costs, time of payment and ease of use for migrant workers which is a recipe for success for a start-up such as Artis Turba. The remittance service will be called ARTIS Cash and will be operated through its own standalone app to be developed in Q2 of 2020. ARTIS cash will plugin through the exchange platform to enable currency conversions at near-instant speeds.
The founders and team of Artis Turba is confident that the roll-out of ARTIS cash in addition to ARTIS rewards will ensure significant value addition for all ARTIS hodlers across the exchange platform and for the cross-border remittance market.
Join Artis Turba Exchange today at https://artisturba.com