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Ethiopian Founders Launches Santym, a US-based borderless bank that allows Ethiopians and Africans to open a USD bank account as well as a Bitcoin and Stabelcoin wallet.

Santym allows users to accept USD from 150 countries by Wire and ACH. Besides, the platform allows users to able to receive Bitcoin and Stablecoins. Stablecoins are a type of cryptocurrency linked to an asset like the U.S. dollar that doesn’t change much in value.

Santym, which is founded by Mathias Abidissa and Yeabsira Hailu, is recently accepted to Celo Camp, a blockchain focussed 8-week acceleration and mentorship program.

Santym customers can also change their USD to Cryptocurrencies in the platform.

Mathias Abdissa, Founder and CEO of Santym said the “the platform is specifically targeted Ethiopians and Africans who don’t have access to an international bank account to accept USD payments“.

The KYC process for opening an account in Santym can be approved as quickly as in 5 minutes and some might take up to 3 business days.

Users are able to open a business or personal account, allowing importer/exporters, travel agents, software developers, or anyone who does international business to have a legal US Bank account along with cryptocurrency functionality.

The platform will also add new functionalities include Debit Card and a stable coin Interest-earning saving accounts with 4-12% APY.

PrimeTrust is the primary custodian for Santym users’ USD and Crypto deposits and works with more than 500 other platforms like Binance US, Abra, and Strike. Prime Trust is a financial institution that provides API-driven open banking solutions for mobile apps, exchanges, OTC desks, platforms, broker-dealers, real estate syndicators, crowdfunding portals, issuance platforms, and others.

Santym is currently rewarding there the first 100 users who transact $100 or above by $5 as a bonus joining fee. In addition, if you refer to 5+ users who transact $100 each, you will get an additional $25.

You can register on the platform at using your Passport or National ID.

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Anteneh Tesfaye is an Ethiopian from Addis Abeba who is interested in Innovation and startup ecosystems across emerging markets with a more specialized focus on Africa, China, and India

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