Nigerian Crypto Startup Coinazer Makes Strides in Brazil, Eyes Global Recognition

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  • CEO Achigonye JohnPaul, Egbuonu Ikenna, Malachi Chidera, and Nnaji Joshua, founded Coinazer in April 2022.
  • Nigeria’s crypto ecosystem has survived numerous hurdles like an ongoing crypto winter, crypto scams, and hacks.
  • Nigeria was the first African country to introduce a CBDC in response to the nation’s astronomical trading volume.

Africa’s entire crypto industry has maintained its current state through the efforts of several key economies. Kenya, South Africa, Egypt, and Nigeria have become the backbone of the crypto industry. The latter has significantly overhauled digital payment adoption by producing numerous startups focusing on improving the region’s crypto sector.

Through this initiative, Nigeria has become one of the best environments for blockchain to thrive. As a result, organizations like Binance, Mircosoft, Coinbase, Polygon, and Ethereum have each contributed significantly to transitioning the nation from traditional finance systems.

In recent news, Nigerian crypto startup Coinazer has extended its services in Brazil, overhauling its reach internationally. This feat boosts Nigeria’s crypto ecosystem, emphasizing the need for cooperation between governments and startups.

Coinazer, a Nigerian crypto startup, extends its reach in Brazil.

Nigeria caught the eyes of the globe when its name was featured in the top five countries with the most transacting volume. Since then, investors, innovators, and the government have been interested in developing its crypt ecosystem. As a result, Nigeria became one of the most prominent supporters of digital payment systems, causing a massive digital wave all over the region.

The country currently holds one of the largest entities in Africa’s crypto ecosystem, Flutterwave. The success of this unicorn startup soon inspired others to take up the mantle. The vision of dominating Africa’s crypto ecosystem became a universal want throughout Nigeira’s crypto industry. Coinazer, a Nigerian crypto startup, soon followed suit, and its latest milestone overhauled its pursuit of glory.

Also, Read Brazil introduces a new blockchain-based digital identity.

CEO Achigonye JohnPaul, Egbuonu Ikenna, Malachi Chidera, and Nnaji Joshua, founded Coinazer in April 2022. Their main goal was to empower individuals and businesses by providing secure, seamless, and cost-effective access to blockchain technology and the crypto industry. Thus, John Paul and his team went on to develop a crypto wallet catering to the needs of Nigerians.

Coinazer kick-started its Brazil services and acquired 5,000 users in less than a month.[Photo/Medium]
Their tools and services quickly caught the attention of several investors and users. In recent news, Coinazer successfully launched its services in Brazil and serves over 5,000 clients, including individuals and companies. The platform’s value and trust have reflected a significant transaction volume, further broadening their cope.

John Paul said, “We have forged partnerships with over 40 key players in the blockchain and fintech industries. These partnerships enable us to enhance our services, expand our reach, and collaborate with like-minded organizations dedicated to advancing financial inclusivity. Coinazer’s expansion strategy extends beyond Nigeria and Brazil, as we aspire to become a globally recognized leader in digital remittances and blockchain-based financial services.”

Their recent achievement has caused a total daily transaction volume of over $3.8 million. The Nigerian crypto startup has provided an ecosystem that combines the strengths of crypto, blockchain, financial inclusivity, security, and professional support. In addition, John Paul claimed that the firm intends to build a better financial future for its clientele in hopes of replacing traditional banking services.

Coinazer intends to improve Africa’s crypto ecosystem

John Paul said in an interview, “Coinazer’s vision goes beyond itself; it imagines a world where everyone has the chance to participate in the international financial system with confidence and control, including the seamless settlement of remittances, both locally and internationally.”

Also, Read Nigerian artists conquer the NFT marketplace in Africa.

Nigeria’s crypto ecosystem has survived numerous hurdles, such as an ongoing crypto winter, crypto scams, and hacks. Its ability to maintain its stance on digital payment platforms provides an irreplaceable example of how cooperation is critical to financial inclusion. In addition, Nigeria was the first African country to introduce a CBDC in response to the nation’s astronomical trading volume. Since then, Nigerian crypto startups have emerged, propelling innovation within the nation.

The Nigerian crypto startup intends to expand this drive and vision of digital payment platforms to other regions. Furthermore, Nigerian crypto startups have taken a different path to success from other crypto wallets. The failures of the Nigerian crypto ecosystems and the global market have shaped how it approaches a new market.

Its low cost, high security, accessibility, and dependability testify to the lessons learned from failed projects. John Paul said, “Coinazer’s competitive edge lies in its commitment to addressing the identified market gaps and providing a holistic solution that combines the benefits of blockchain technology with financial inclusivity. As the African digital remittance market grows, it is well-positioned to capture a significant market share by offering secure, efficient remittance services. This impressive transaction volume($3.8 million) reflects users’ trust and confidence in our platform to handle their digital assets.

Wrapping up

Nigeria is among the four main parts of Africa’s crypto industry. The Nigerian crypto startup has been among the region’s many success stories over the years. Digital payment platforms are a rising trend in Africa. Organizations like Mara, Luno, Flutterwave, and Yellowcard have overhauled their adoption, but many regions still find digital assets a mystery.

If Africa embraced digital payment platforms, it could significantly propel economic activity and financial inclusion. Coinazer is a prime example of Africa’s innovation and could one day represent the continent on a broader platform.

Also, Read South Africa experiences a roll of crypto scams targeting young minds.


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Ken Mutuku
Ken Mutuku
Your Guide to the Future of Tech, Web3, and Digital Storytelling. With a keen eye for detail and a knack for concise communication, Ken Mutuku is your go-to professional for decoding the next wave of technological evolution. Whether through captivating videos, insightful articles, or engaging presentations, he masterfully crafts messages that deeply resonate with his audience, setting him apart in the digital landscape.