The space first noticed the rise of a cryptocurrency Electroneum (ETN) on the 28th September 2018 when the cryptocurrency spiked by 47%. Crypto lovers were wondering If what the cryptocurrency witnessed was a mere pump and dump.
After few days, it appears the cryptocoin is not relenting, making the space to be full of discussion on Electroneum.
Regarded as an “enablement currency”, the team behind Electroneum have the intent of enabling a new 3 trillion dollar market with its decision to give room for more than 350m smartphone users in the developing world to have access to the digital market for the first time.
Electroneum (ETN): A Peep Into The Past
Looking back, Electroneum (ETN) is not just clinch the top position, the cryptocurrency has been sealing deals and making impacts before this time.
Electroneum Partners XIUS, A Mobile And Payment Provider With 65 Million Subscriber
Early January, Electroneum announced a groundbreaking partnership with XIUS, a mobile and payments technology provider with more than 65 million users.
The platform, XIUS, is telecommunication brand of Megasoft. XIUS is touted as a market leader in the mobile and payments space due to its more than 230 deployments for its customers in 6 continents.
XIUS processes over USD 1 billion worth of payment transactions monthly, and has its operating headquarters in Massachusetts, USA. Also, it has its global delivery centre in Hyderabad, India.
Xius is one of the greatest thing that happened to Electroneum for the fact that the payment and telecommunication company has more than 25-year experience in innovation and has filed over 120 patent applications.
Aside that, the XIUS ‘Payment Manager’ software services over 1.2 million agents, dealers and distribution points spread across 9 LATAM countries.
With this partnership, Electroneum is now used on its software and the cryptocurrency is being used as a payment method across Latin America.
The collaboration will help in promoting Electroneum’s mobile mining app by offsetting phone costs.
The development is a pointer to success for the fact that it was not long to the time of this partnership that Electroneum raised $40m in its ICO, with close to 500,000 registered users.
Electroneum (ETN) Sealed Deal With Effortel and BMedia
After partnering with XIUS, Electroneum announced another deal with Effortel and and BMedia. The collaborations brought Electroneum to reach to 91m users.
Effortel is regarded as the only Effortel is the only mobile virtual network enabler (MVNE) that is running a centralized real-time intelligent network system across the industry. The platform has integrated with nothing less than 6 mobile operators across 7 countries and 3 continents.
In the same line, it also signed agreement with Unified Media, a company with over 19-years experience enabling firms to resell communications, financial services, and other types of value added services. The partnership among other things heightened the reach of Electroneum (ETN) to 130 million people.
Conclusion: some people may be thinking the rise of Electroneum (ETN) in the market is a pump and dump. Beyond that, ETN has achieved worthwhile partnerships. This is behind its rise in the crypto space. There is space for ETN among the top 10, but time will tell.