On 19 February this year, Emtel and MINDEX announced a partnership involving blink, the mobile payment application from telecoms operator Emtel. MINDEX is a group operating in the field of digital asset management.This partnership will enable individuals and businesses alike to open virtual wallets for their digital assets, such as cryptocurrencies: a bold choice for Emtel and an ambitious strategy for MINDEX.

Atul Bhatia ,Chief Fintech Officer at Emtel and Jessica T. Naga, Director of the MINDEX Group

The last few years have seen the launch of several mobile payment applications, both bank and non-bank. While Mauritius Telecom has opted for a digital wallet (not linked to a bank account), Emtel (Mauritius’ leading private mobile operator) has opted for a banking application that enables payments to be made from various Mauritian bank accounts. The mobile application in question is “blink”, a service provided by Emtel MFS Co Ltd, which operates under licence from the Bank of Mauritius. In this way, blink has formed a partnership with the MINDEX group, which has obtained various licences from the Mauritius Financial Services Commission (FSC) to operate in the emerging digital assets sector. The two companies have teamed up to offer a digital wallet service for digital assets.

Anticipate the central bank’s digital currency and stay ahead of the competition.

MINDEX and Emtel announce: “Our offer will initially focus on the exchange and custody of stablecoins”, and add that they remain attentive to the Central Bank of Mauritius’ digital currency project, at the same time taking the wind out of the sails of competitors by offering the first all-public service of this type. A stablecoin is a form of digital currency designed to maintain a stable value by being backed by tangible assets or fiat currencies, among others, thus offering a less volatile alternative to traditional cryptocurrencies such as Bitcoin.

“All blink customers wishing to access the services offered by the partnership must first register on the MINDEX page and create an account. Once approved, the customer will be able to select and purchase various assets on the MINDEX platform, whether listed assets or digital assets, after transferring the corresponding amount to the MINDEX account. Customers will also be able to buy via blink or pay MINDEX via the blink payment application, which will be credited to the customer’s MINDEX portfolio in real time,” explains the press release.

Jessica T. Naga, Managing Director of the MINDEX Group, said: “MINDEX is currently focusing on securing strategic partnerships to offer better solutions and more secure products to its Mauritian customers, as well as those from the African continent. This partnership with blink by Emtel is of particular importance, as it prepares us to better serve the national and regional market, given that digital assets will be used more and more”.

Read Jessica Naga’s profile in the latest edition of Archipelago News.