51 Capital Launches ‘Kenyanised’ Cryptocurrency, Pessa Coin

The new Pessa Coin [PHOTO/ COURTESY]

The evolution of bitcoin has taken over the world in such a thunderous way that even billionaire Harry Potter author JK Rowling once took to Twitter to wonder, What the hell is bitcoin??!

Well, according to Wikipedia, ‘Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.’

That explanation may sound like jargon to alot of you but one local company had made sure that all Kenyans of all walks of life can not just access the virtual money but also do it in a way that has been personalised for them.

Read: 51 Capital CEO Joe Kariuki Under Fire For Appointing 22-year-old MD

51 Capital has revolutionised how Kenyans trade and deal with money and as one of the biggest Forex Trading companies in Africa, 51 Capital has now moved into yet another sphere of currency – cryptocurrency.

The move has seen the company launch the first ever Kenyanized virtual money Pessa Coin, that has already started moving with speed and is now driving traders wild, the company says.


Like Bitcoin, Pessa Coin has now become the latest trend to hit the virtual money market on Kenya and traders have already started cashing in on the mind-boggling phenomenon.

One Pessa Coin will be costing Ksh53 and can be sold for as much as Ksh75 or even more.

A brainchild of millionaire entrepreneur Joe Kariuki, Pessa Coin will now forever change how Kenyans trade online.

Joe Kariuki. [PHOTO/ COURTESY]

“For all intents and purposes, the function of Pessa Coin is almost identical to that of other crypto coins in the market. It is a decentralized digital currency, you know. Just like bitcoin. The currency was created by 51 Capital as an attempt to make more scalable and efficient margins,” Joe Kariuki explains.

“During the period of high crypto coin fees of late, observers suggested users were utilizing Pessa Coin as a different layer to send transactions… Also, its very compatible with most e-wallet platforms including M-Pesa, ” he adds.

As we speak, the Pessa Coin has already been launched into the market and traders have been scampering to get a hold of it, buy it and sell it off at impressionable profits.

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