Ubuntu Tribe, in partnership with RED Media and DLM Capital Group, has announced the launch of Utribe Wallet and GIFT Token in Lagos Nigeria.
This landmark event signifies a significant leap forward in the evolution of regenerative finance, held at Radisson Blu Anchorage on November 18, 2023.
The latest wallet is an avant-garde platform that provides customers the possibility to buy gold from as low as 50 Naira from the ease of their mobile phone. Ubuntu Tribe offers the opportunity to build real savings and preserve their purchasing power, in a context of depreciating local currencies that is fast eroding the hard work of working class and companies treasuries.
Customers can send and receive GIFT to one another within Utribe Wallet at affordable fees. The physical gold itself doesn’tmove, itremains securely stored, only the digital certificate of gold ownership is transferred. Any user can claim the underlying physical gold at any given time at a preferred location by redeeming their GIFT in the platform.
Ubuntu Tribe announces a new era of shared prosperity and collective wealth preservation by democratising access to gold. GIFT was acclaimed byreputable institutions such as the Nigerian Stock Exchange Group, and Lagos Commodities and Futures Exchange, the path set towards a successful adoption and acceleration in the region.
The partnership between the 3 companies represents a bold step towards fortifying capital markets through the introduction of tokenized natural mineral assets. These assets, mined sustainably and universally accessible, usher in a new era of wealth security and opportunities, with the aim of enhancing financial literacy, inclusion and access in the global economy. The launch of GIFT was all the more celebrated as a credible solution to unlock Africa’s massive untapped wealth of natural resources.
The continent hosts 46% of the global gold deposit. GIFT accessibility on Utribe Wallet significantly contributes to restoring African dignity powered by technology bringing gold at the palm of people’s hands.
Mamadou Kwidjim Toure, CEO and Founder of Ubuntu Tribe, expressed gratitude for the overwhelming response in Lagos. “Ubuntu Tribe is a movement towards shared prosperity, financial inclusion, and a sustainable economic future.’’
Oscar N. Onyema, CEO of the Nigerian Stock Exchange, said: “Asset tokenisation is a unique opportunity for Nigeria’s accelerated growth for all citizensand we areproud to see Ubuntu Tribe lead the way in this direction.’’
Ndidi Okonkwo Nwuneli, Co-Founder of African food change makers, entrepreneur and thought leader, shared her insights into how tokenization can drive agricultural growth across the African continent. “The Utribe Wallet and GIFT (Gold International Fungible Token) opens up new avenues for revolutionizing cross border trade for farmers, presenting opportunities for sustainable growth in the agricultural sector across Africa.”
Dr.AllwellUmunnaehila, Head of Operations at Lagos Commodities and Futures Exchange, highlighted the potential of tokenization to drive innovation and growth in African markets. “The success of the Utribe Wallet and GIFT (Gold International Fungible Token) launch in Lagos signifies a pivotal moment for African markets. Tokenization has the potential to reshape our economic landscape, fostering growth and inclusivity.”
Sonnie Babatunde Ayere, CEO of DLM Capital Group, commented on the transformative power of tokenization in the capital market. “The Utribe Wallet and GIFT (Gold International Fungible Token) represents a new frontier in the tokenization of assets, providing endless possibilities for participation and value creation. This success in Lagos underscores the significance of digital assets in reshaping the capital market landscape.”
Adebola Williams, Co-founder, and Chairman of RED Media Africa, underscored the influential role of media in shaping narratives. “RED Media is dedicated to telling the story of Africa and its products. We are thrilled to witness the positive impact of regenerative finance on our continent led by Ubutu Tribe.”
