Bitcoin is on a slow march to become a more globally used virtual currency and the latest area of the globe where an impact is being made is Morocco. According to an E-Coin representative, 15% of the website traffic for this Bitcoin debit card provider is coming from Morocco and quite a few people are signing up for their debit card service.
E-Coin Becomes a Household Name in Morocco
When it comes to the country of Morocco, very little media attention is going out to the local financial infrastructure right now. Similar to most countries in that part of the world, most Moroccans have little to no access to a financial infrastructure in comparison to the Western world, which opens the doors for Bitcoin adoption.
Back in 2007, Morocco’s financial sector started on a mission to further grow the banking activity in the country. Unlike other banks around the world, Morocco’s banking sector has not felt the brunt of the global economic crisis and even saw an increase in people signing up for a bank account.
To make matters even more interesting, various private banks have been buying up companies