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AltCoinTrader have partnered with South African FinTech firm Ozow in order to offer their clients instant EFT deposits directly from their bank accounts. The feature is not limited to any specific bank that clients are with.

“We’re really excited to offer this feature to our clients,” CEO Richard de Sousa said in a statement to Global Crypto. “There are many times that clients see an opportunity in the crypto or gold and silver markets and they need to deposit more Rands into their AltCoinTrader accounts quickly. Now we are able to offer our clients exactly that.”

When wanting to make an instant EFT using the new service, users need to select “deposit” on the AltCoinTrader platform, and click on the “ZAR – South African Rands” drop down menu. There they will select Ozow, and will be directed to entering their banking details in order to complete the instant deposit.

Ozow entered the market in 2013 and have grown to become a formidable fintech force in the country, onboarding clients such as the National Lottery, Dis-Chem, Vodacom, Takealot, Hollywod Bets, and DSTV. Partnering with crypto exchanges like AltCoinTrader and iCE3 is likely to increase liquidity in orderbooks, as users will feel confident in moving quick money to the platform when opportunities arise.

The system went live on AltCoinTrader today, and requires no additional registration from AltCoinTrader clients.

James Preston
James Preston is the Managing Editor of South Africa's first and largest news website for the blockchain industry: Global Crypto. He is a writer and media commentator who has been reporting on how the Tech industry will make the world a better place for 14 years, with a large following on South African radio. He is an early adopter of Bitcoin, and began reporting on its revolutionary capabilities in late 2014. Philosophical by nature, he is intrigued by how the world works, and in turn, how it can be bettered. James believes wholeheartedly that the world can become as close to perfect as we humans can imagine, but it will take a lot of effort (and time) to get there. He believes his life purpose is to inspire people to believe this, and find their place in helping humanity achieve it. James regularly does talks on emerging technology and its impact on society at Universities, global conferences, and events. To invite him to speak at your event, or comment for your media outlet, email info@globalcrypto.tv