Leaf Global Fintech, the winner of Reflect Impact Awards, was acquired by IDT Corporation
Leaf Global Fintech, a provider of digital wallet services in emerging markets and the winner of Reflect Impact Awards, was acquired by IDT Corporation. The news comes only 1.5 years after Leaf impressed the jury at Reflect with their technology that offers financial services to the stateless and excluded on a mobile device through blockchain technology.
“We are thrilled to join IDT and look forward to the opportunity to deploy Leaf globally through IDT’s network,” said Nat Robinson, Leaf’s Co-Founder and CEO. “We now have a tremendous opportunity to expand our service to traders, refugees, migrants, and other largely unbanked populations worldwide with affordable mobile technology.”
The Leaf Wallet is available on smartphones, feature phones, and other mobile devices through the Leaf Wallet apps or by utilizing a USSD interface accessed via a short code. The Leaf digital wallet enables customers to store, send, receive, and exchange currencies on their phones domestically and across borders.
The Leaf platform leverages the Stellar network for storing and disseminating transaction data while maintaining value with stablecoins. Stellar is an open-source, decentralized blockchain network that connects global financial infrastructures. It is optimized for payments and specifically to support cross-border transactions. The Stellar platform enables Leaf to provide affordable, fast, mobile transactions to cost-sensitive populations that require high security and transparency.
“The IDT acquisition validates the groundbreaking work our team has done to deliver a world-class digital wallet to people with and without smartphones in multiple markets,” said Tori Samples, Leaf Co-Founder and CTO. “We are confident that Leaf’s stablecoin approach on Stellar will continue to lower transaction costs and increase accessibility for customers around the world.”
Leaf has won awards from the United Nations, The Vatican, Cisco, Fast Company, and was recently named to the global Inclusive Fintech 50 list.
About Leaf Global Fintech:
The Leaf Wallet is an innovative mobile wallet available on both smartphones (on the App Store and Google Play) and non-smartphones through a USSD interface accessed via a short code. Leaf enables customers to store, send, receive, and exchange currencies on their phones, domestically and across borders. Currently, Leaf is operational in three countries across East Africa.
Leaf has received support from the UNICEF Venture Fund, the U.S. National Science Foundation, Techstars, and the Stellar Development Foundation. Learn more at www.leafglobalfintech.com.
About IDT Corporation:
IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud, and traditional communications services. The company makes it easy for families to communicate and support each other across international borders. It also enables businesses to transact and communicate with their customers with enhanced intelligence and insights.
IDT's BOSS Money international remittance and BOSS Revolution international calling services make sending money and speaking with friends and family around the world convenient and reliable. National Retail Solutions’ (NRS) point-of-sale retail network enables independent retailers to operate and process transactions more effectively while providing advertisers and consumer marketers with unprecedented reach into underserved consumer markets. net2phone’s communications-as-a-service solutions provide businesses with intelligently integrated cloud communications and collaboration tools across channels and devices. IDT Global and IDT Express wholesale offerings enable communications service enterprises to provision and manage international voice and SMS services.