Thursday, November 30, 2023
  • 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 industry. Nigeria has become one of the best environments enabling blockchain to thrive through this initiative. 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 overhauls its pursuit for 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 managed to acquire 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 Coinazer 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 like 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.

Coinazer intends to take this drive and vision of digital payment platforms to other regions. Furthermore, Nigerian crypto startups have taken a different path from other crypto wallets to succeed. The failures amid the Nigerian crypto ecosystems and the global market have shaped how Coinazer 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 continues to grow, Coinazer is well-positioned to capture a significant share of this expanding market by offering secure, efficient, and cost-effective 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. Coinazer is among many success stories the region has produced 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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