• The collaboration between Fuse Blockchain and NexusPay aims to enhance crypto remittance services across Africa.

• Regulatory bodies like Nigeria’s SEC acknowledge the potential of crypto payments.

• Stablecoins are becoming a popular alternative to fiat currency in Africa, providing easier access to digital payment platforms and cheaper cross-border transactions.

Crypto payments in Africa have grown over the past decade. In major crypto trading regions such as Kenya, Nigeria, and South Africa, Web3 payment systems are often preferred due to their low transaction costs.

In addition, they offer complete control over assets and low government interference. To survive, many traditional banks have partnered with Web3 organizations to launch fintech solutions.

In recent news, Fuse Blockchain has announced its upcoming partnership with NexusPay, a leading stablecoin account solution. This partnership will overhaul the growth of crypto remittance payments throughout the continent. This ongoing collaboration is among many that weave the Cybernet of Africa’s Web3 and Crypto ecosystem.

Fuse Blockchain Partners with NexusPay to Introduce Better Web3 Payment Systems

Amid the Bull Run, plenty of organizations, traders, and investors have poured millions of dollars into the market to take advantage of this rare opportunity. With altcoins steadily rising and meme coins skyrocketing, many organizations have taken the opportunity to overhaul crypto payments in Africa.

It has caught the eye of numerous entities within the industry and even regulatory bodies such as Nigeria’s SEC. This body recently acknowledged the potential of crypto payments in Africa.

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As a result of this newfound hype, many organizations have offered seamless, faster, and better Web3 payment systems in hopes of profiting from this wave.

Fuse Blockchain is among the few to focus on crypto payments in Africa. According to its whitepaper, Fuse is a blockchain platform tailored for Small—to Medium-Sized Businesses and communities.

Since the COVID-19 pandemic, many organizations have broadened their horizons into newfound territories unbothered by geographical locations. As a result, E-commerce has significantly dominated most economies, forcing many to opt for Web3 payment systems to facilitate such transactions.

Fortunately, digital assets are an ideal medium to facilitate transactions across borders, and Fuse is among the upcoming organizations set to dominate the franchise.

Web3 payment systems integrate DeFi features to focus on high performance and low transaction costs. This allows Fuse Blockchain to make smart payment technology accessible and easy to use. Since its founding in 2019, Fuse has designed numerous Web3 payment systems for SMBs and communities, optimizing its clientele throughput with low fees.

With the main goal of dominating crypto payments in Africa, Fuse Blockchain partnered with NexusPay to overcome several drawbacks of the formal financial sector. NexusPay is a renowned stablecoin account solution provider that leverages the ongoing adoption of stablecoins on the continent.

Both organizations are designed to equip communities and regions with the means to build economic horizons. The stablecoin account solution provider intends to collaborate with FuseBox Web SDK to level the playing field in Africa’s financial sector via digital assets.

In recent times, Africa has experienced unprecedented growth in stablecoin use compared to other digital currencies. Digital assets offer a better alternative to fiat currencies in Africa.

For instance, Nigeria’s government recently sued Binance because the high usage of digital assets adversely affected its fiat currency. In Kenya, a growing number of citizens opt for stablecoins because they provide easier access to digital payment platforms and offer faster and cheaper transactions when sending funds beyond its borders.

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Fuse Blockchain intends to integrate its Web3 payment system with NexusPay’s simple digital dollar accounts. This will offer efficient, cheap, and better cross-border payments. In addition, the collaboration will consider conversion costs between local fiat currencies and digital dollars.

This is done by adding features that make the conversion faster and cheaper than traditional banking systems. Fuse will apply contract logic to replace gas lists and introduce added layers of security in the form of multi-sign options, recovery forms, and delegated execution.

In light of the increased rate of crypto hacks, the collaboration has guaranteed enhanced features such as meta transactions, social recovery, and account abstraction. This is for better account management.

The founders of NexusPay, Griffins Oduol, and Nashons Agate, affirmed their trust in the partnership by stating, “Fuse is one of the pioneers in blockchain finance, and we are ready to propose strong solutions based on the platform.“

In addition, they reassured that the partnership was a means to promote crypto payments in Africa by providing a system that caters to local citizens, allowing easy access to their hard-earned digital assets.

In a final remark, Fuse stated, “By combining the strengths of Fuse’s expansive web3 payment platform and NexusPay’s cutting-edge stablecoin solutions, we’re creating a gateway to effortless and inclusive crypto transfers. Users will benefit from fast, low-cost, and borderless transactions, along with the ability to convert local fiat currencies into Digital Dollars seamlessly.”