The Nigerian-based cryptocurrency exchange startup company, NaijaCrypto has reportedly tweaked its FinTech network with additional fiat currency for possible token exchange. NaijaCrypto added six tokens for users to virtually exchange their real-time cash for cryptocurrency in line with their geographical location.
NaijaCrypto CEO, Chiagozie Iwu, confirmed the added fiat tokens for a futuristic cryptocurrency exchange that also poses as a means to explore multiple fiat currencies paired with the broad crypto market. Iwu also revealed he sent the executive electronic mail to the NaijaCrypto’s active subscribers alerting them about the tweaked digital network accessible to multiple fiat tokens.
NaijaCrypto’s current digital network has six added fiat currencies such as Ghanaian Cedi (GHS), South African Rand (ZAR), Ugandan Shilling (UGX), Cameroonian Francs (XAF), Burundian Francs (BIF), and another foreign currency — the British Pounds (GBP). This serves as a means for the Nigerian-based cryptocurrency exchange startup company to expand beyond its host country’s FinTech Ecosystem.
Iwu also revealed that previously closed tokens such as the US Dollar (USD) and Kenyan Shilling (KES) have been reactivated for real-time currency to the cryptocurrency exchange. Iwu also confirmed the USD and KES are not among the six added fiat tokens due to their previous existence on the NaijaCrypto currency exchange platform. All the available fiat tokens on the NaijaCrypto currency exchange network are paired with any cryptocurrency brand such as Ethereum, Dodge, Bitcoin, Litecoin, Solana, e-Naira, etc.
“In addition, the deposit options added for the newly integrated Fiat currencies are the first step; we are currently working on a solution that makes Fiat currency deposits and withdrawals the cheapest it has ever been. We should launch this product by May 2022. So many new products and features should also be expected as we aim to drive traditional finance to the Blockchain,” Iwu said.
Iwu intended to push his Nigerian-based cryptocurrency exchange startup company to embrace other money markets that exchange digital money for real-time cash. The NaijaCrypto currency exchange business is currently available in the fiat market of the same currency Iwu added for possible exchange, including, Ghana, South Africa, Kenya, Cameroon, etc.
For context, NaijaCrypto’s additional fiat tokens pose as an expansion scheme to control multiple streams of the money market. The added fiat currency was in response to the NaijaCrypto’s feedback community on Telegram Channels, Facebook, Instagram, Twitter and the web app. Iwu continued to develop the NaijaCrypto mobile app that is compatible with the flagship OS platforms such as Android and iOS.
Iwu added Ghana’s fiat currency and reactivated Kenya’s fiat currency for possible exchange for cryptocurrency because the Chainalysis report highlights Nigeria, Ghana, Kenya, and South Africa as the African geographical location with the most cryptocurrency trading volumes in the continent.
Today, NaijaCrypto’s users can exchange tokens to other users based on the listed fiat geographical location. Likewise, embracing the fact that multiple fiat currencies are durable for real-time withdrawal or deposit per users’ discretion. NaijaCrypto currency traders can make instant purchases and exchange digital currency for real-time cash which is also secured and affordable.
The cryptocurrency ecosystem is a vast market that embraces digitized means of financial inclusion — this explains the additional foreign currency listed on the NaijaCrypto currency exchange network. The British Pounds serves as a means for NaijaCrypto to expand and explore the overseas crypto market, in line with Iwu’s scheme to push his cryptocurrency exchange business outside the African digital market.
The crypto market is a large space of lucrative business that evolves per users’ discretion to invest in the money market. NaijaCrypto currency exchange network is now flexible for users to explore other non-fungible tokens, NFTs, tied to the crypto market. Iwu also revealed that his team of developers is currently working on a significant transition towards the Web3 marketplace that trends.