Zone hits ₦1 trillion in transactions as Nigerian banks turn to blockchain
- Zone processed over ₦1 trillion in transactions on its blockchain network between November 2022 and December 2024.
- The company recorded 100 million transactions, averaging ₦10,000 per transaction.
- Zone's blockchain network allows banks to achieve faster settlement rates on ATM transactions.
Zone's innovative approach to integrating blockchain technology into Nigeria's payment systems is commendable, especially in a landscape where traditional banking is hesitant to adopt such solutions. However, the regulatory hurdles and the cautious rollout suggest that while progress is being made, the path to widespread adoption may be slow. Further discussions should focus on how to streamline regulatory processes to facilitate faster implementation of such technologies.
