VoguePay: Bitcoin Will Enable Online Commerce In Nigeria
“As a payment processor company, we saw a lot of potential in bitcoin. Then we, as a company, started looking for a partner to work with in order to satisfy the inquires from customers and build that innovation we that needed in our market,” said Voguepay co-founder Geoffrey Weli Wosu. Last month, South African bitcoin exchange, IceCUBED, expanded their exchange to Nigeria, Africa’s largest economy. The company partnered with the country’s largest payment processor, VoguePay, to allow Nigerians to buy and sell bitcoins with mobile phones. The country is an economic powerhouse but is still....
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South African bitcoin exchange ICE3X has launched bitcoin trading in Nigeria for the first time, opening up a potentially huge market for bitcoin in Africa's most populous country. The company has formed an exclusive partnership with Nigerian payment processor VoguePay, allowing users to buy and sell bitcoins using the local currency, the naira, directly from existing VoguePay wallets. ICE3X is also planning to roll out merchant services allowing local businesses to accept bitcoin. Breaking new ground. Speaking to CoinDesk, ICE3X (pronounced 'ice-cubed X') founder Gareth Grobler described....
South African bitcoin exchange ICE3X has now made it possible to trade bitcoin in Nigeria through a partnership with Nigerian payment processor VoguePay. Exchange founder Gareth Grobler described the situation with enthusiasm, and feels that Nigeria, Africa's most populous country, is the prime area for a possible bitcoin market: "The market... is potentially massive. VoguePay have spotted the opportunity bitcoin offers, seeing as one of the primary attributes of bitcoin is its security. Nigerian online consumers simply do not have the same access to goods and services from international....
Consumers are also investing in Bitcoin as a way to hedge against future Naira depreciation. Bitcoin remains a popular cryptocurrency, despite its value dropping like a brick over the past 48 hours. In Nigeria, Bitcoin continues to be embraced by consumers and enterprises. Most people still see it as an investment vehicle, but it also a valuable tool to bypass expensive remittance solutions. The future of Bitcoin looks bright in Nigeria, and things continue to improve. Similarly to most African nations, Nigeria heavily relies on affordable money transfer services. Bitcoin provides the....
Authorities in Nigeria and cryptocurrency exchange Binance Holdings Ltd. are in talks tto create a digital economic zone that will support blockchain technology adoption by businesses in the West African country. Binance In Talks With Nigeria According to a press release, Nigeria intends to use the Nigeria Export Processing Zones Authority (NEPZA) to establish the […]
Nigeria is set to become Africa’s FinTech hub after experiencing a boost in mobile money operations last year that has helped catapult the country to the forefront of media attention as it demonstrates its advancements in the sector. According to a report from Finextra, in 2011 mobile money operations in Nigeria grew from an average monthly transaction value of $5 million to $142.8 million in 2016. A key factor to this growth is down to the fact that Nigeria is experiencing a growing population. UN estimations predict that the population in Nigeria is expected to be greater than that in....