Kuva rolls out the Kuvacash crypto wallet

Kuva�a blockchain start-up with strong African roots�has started a phased roll out of its Kuvacash crypto wallet for Android (download here), with iOS version expected to follow in the coming weeks.

The wallet release is a culmination of a nearly three year effort to create an innovative solution that simplifies cryptocurrency acquisition and exchange using a simple Smartphone. Underpinned by the start-up’s multi-asset blockchain network, kNET, the Kuvacash wallet will initially support the k series stablecoins (USDk) , Bitcoin, Dash as well as the Kuva coin.

James Saruchera, Kuva Chief Executive (CE), also revealed to Africa Blockchain Media a distinct approach to the coin offering process his company has undertaken.

Coin buy-back

Kuva will be buying back some of the coins sold during its ongoing private sale. Saruchera believes this decision will serve the start-up well in an environment now dominated by failed projects, which either did not have a product or a viable business model. 

“Kuva has invested millions in developing its fintech infrastructure and with no external debt impeding us, we’re only just getting started.”    

“We want to take this different approach with our coin sale process. Soon we will be starting a process of buying back and burning some of the coins. This will be our unique way of showing our confidence with the product (Kuvacash’s wallet application),” explained Saruchera.

A coin buyback process is akin to a share buyback often undertaken by publicly listed companies. A share buyback is usually