Chankura, which is a kasi (South African township) slang word for money, has ambitions of becoming one of Afrika's leading cryptocurrencies exchanges. Founded by Thabang Mashiloane, the cryptocurrencies exchange states that it allows for the trading of over 40 cryptocurrencies on its exchange including Bitcoin, Ethereum, Ripple, Monero, Zcash, Litecoin, and more.
One way Chankura hopes to differentiate itself in Afrika is not only the ability to buy and sell over 40 cryptocurrencies on its exchange (unlike most exchanges in Afrika which only allow the trading of Bitcoin and/or Ethereum), but also its newly announced ICO listing platform.
![Cryptocurrencies Vitalik Buterin Thabang Mashiloane](/content/images/2018/08/Cryptocurrencies-Vitalik-Buterin-Thabang-Mashiloane.jpg) Vitalik Buterin, Co-Founder of Ethereum, with Thabang Mashiloane, Founder and CEO of Chankura.
"During early 2017 we discovered the initial coin offering model going mainstream as the method of fundraising/crowdfunding to present an alternative to angel investment and venture capital for technology startups. This lead us to explore some of the companies launching ICOs and integrating them into Chankura Exchange to allow trading of a wide variety of tokens launched on the Ethereum ERC20 standard," said Thabang Mashiloane, Founder & CEO of Chankura, explaining why they introduced the ICO listing platform.
Fierce cryptocurrencies exchanges competion in Afrika
For Chankura to achieve its goal of being the largest cryptocurrencies exchange in Afrika, things won't be easy. Despite the numerous cryptocurrencies exchanges that are now available in Afrika, one notable one that will likely be Chankura's biggest competitor is Luno. Just recently, Luno announced that it had reached the 2 million customer milestone with its customers having now opened over 2 million wallets on its exchange since launch.
Luno, however, unlike Chankura, only allows for the trading of Bitcoin and Ethereum.
"The ICO listing platform adds another layer on top of our current existing exchange and wallet product to cater for pre-ICO and airdrop stage projects. The Chankura ICO listing platform will be used to assess tokens that can be listed on Chankura Exchange although does not guarantee token listing on Chankura Exchange. Since all the required information about the token listing is available on the ICO listing platform, listing your ICO on Chankura ICO listing platform is advantageous for token listing on Chankura Exchange," added Mashiloane.
Whether or not Chankura, which has offices both in San Francisco and Johannesburg, will eventually become the largest cryptocurrencies exchange in Afrika, time will tell. One thing seems to be in Chankura's favour though, and that is the continued uptake and use of cryptocurrencies in day-to-day life in Afrika.
Cover image credit: Screenshot of the Chankura cryptocurrencies exchange.