Aufort takes Kenya’s gold trading into digital era
An Estonian-government backed fintech firm, Aufort, has implemented a blockchain technology
solution facilitating Kenyan traders to engage in the digital trade of physical gold.
The initiative which will see Kenyan traders buy, sell, send and receive physical gold in digital form,
has been announced through a partnership between Aufort and the Fintech Association of Kenya
(FINTAK), as stated by the association’s Chairman, Duncun Motanya.
Mr. Motanya noted the potential of this innovative platform to transform the gold trade, leveraging
blockchain to improve accessibility, affordability, and combat fraud.
“The potential of this innovative platform to revolutionize the gold trade and utilize blockchain
technology to enhance accessibility, affordability and combat fraud is tremendous.” said the
Chairman.
Aufort’s solution accommodates both novice and seasoned traders, ensuring swift digital transactions
supported by genuine gold from reputable refineries, thus mitigating risks linked with fraud and
inflation. Moreover, Aufort’s solution will enable Kenyans to trade gold through M-PESA, the
country’s predominant payment method.
Read also: Shanta Gold tips Kenya next frontier of quality, high-grade gold
CEO Bert-Ken Raudberg highlighted the platform’s security features, with each user benefiting from a
protected blockchain-based account secured by Google 2-Step Verification. This user-friendly
interface ensures secure gold transactions.
Having been deployed successfully in 30 European countries prior to its launch in Kenya, Aufort is
also gearing up to commence operations in the United Arab Emirates. Gold, acknowledged as the
world’s most secure asset, is stored securely by esteemed global entities, with regular audits conducted
by regulated firms to ensure compliance and transparency.
Through collaboration with FINTAK, Aufort aims to increase awareness about its pioneering platform
and cultivate a supportive regulatory environment for its operations within Kenya’s technology-based
financial services sector.
