While authorities in tech and finance are skeptic on  cryptocurrency in the country,  Buy Bitcoin Malawi is a local firm that allows Malawians to buy or sell Bitcoin and other cryptocurrencies instantly with the Malawian Kwacha. HeraSoftware, an American Blockchain software company, has bought 5% stake in the Malawian firm.

Buy Bitcoin Malawi chief executive officer Grey Jabesi said  HeraSoftware bought in the idea by Buy Bitcoin Malawi of bringing cryptocurrencies (Bitcoin) to African continent “because that is where it makes most sense.”

Malawians can sell/buy cryprocurrencies using an indigenous Bitcoin Application called Khodo which is also available on Playstore. According to Jabesi the application allows one to buy or sell Bitcoin with Malawi Kwacha through bank transfer or mobile money.

In May 2019, the Reserve Bank of Malawi disclaimed that oversight responsibility over cryptocurrency trade, but later in October that year, engaged stakeholders at a conference, to discuss the evolution of financial technology with a focus on block chain technology and cryptocurrencies. During the conference, the Central Bank did not make a concluded decision on its stance, rather it weighed on digital currencies implications on monetary policy and financial stability.

While the RBM and other institutions advise interested individuals to be cautious with cryptocurrencies,  the company intends to establish offices across the country that will help in providing services and free education on cryptocurrency to Malawians.