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eToro’s GoodDollar Partners With BitMinutes for Better Token Reach

eToro’s_GoodDollar_Ups_G$_Utility_Through_Partnership_with_BitMinutes
  • GoodDollar and BitMinutes have just partnered to improve utility for both platforms.
  • This will let token holders in developing nations use prepaid minutes as currency.
  • Users will be able to settle peer-to-peer debts, pay bills and buy goods.

eToro-backed non-profit GoodDollar has teamed up with blockchain tech BitMinutes, producer of the first prepaid cell phone minute token. The partnership will achieve higher utility for both platforms, especially in developing nations.

The collab will churn out extra cash-in and cash-out options for GoodDollar users. They will be able to exchange their G$ tokens for BitMinutes’ prepaid mobile minutes.

Most importantly, the cooperation will let token holders in developing nations rely on prepaid mobile phone minutes for use as a form of currency. Specifically, they will be able to settle debts with these, as well as pay for bills and buy goods.

This especially fixes the problem of having BitMinutes’ minutes trapped in operators’ ecosystems. Before, the platform could not convert prepaid airtime back into cash or the previous currency. But now, its US-based service covers 70 contracting countries. Also, it gives out prepaid airtime top-ups to over 4 billion mobile accounts in more than 120 countries.

On the other hand, GoodDollar has just seen its users grow to 220,000. Its adoption has expanded as a medium of exchange to over 181 countries. Launched initially in September 2020 by eToro CEO and Co-Founder Yoni Assia, the social impact project provides its users with a free digital universal basic income.

About the partnership, Assia noted, “Working with BitMinutes is a great opportunity to demonstrate the role GoodDollar plays in onboarding millions of new global consumers to the world of digital money and the greater digital economy. We look forward to this partnership yielding concrete impact for hundreds of thousands of GoodDollar members around the globe.”

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Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.