Nigerian fintech Zone raises $8.5M seed to scale its decentralized payment infrastructure
- Appzone has rebranded to Zone and raised $8.5 million in a seed round for its blockchain-enabled payment infrastructure.
- Zone aims to develop an interoperable payment infrastructure using blockchain technology to connect banks and fintech companies in Africa.
- The company has already signed up over 15 of the continent's largest banks and is processing domestic transactions for seven of them through ATM channels.
Zone's blockchain-enabled payment infrastructure has the potential to revolutionize the payment ecosystem in Africa by providing a reliable, scalable, and cost-efficient solution. The company's focus on interoperability and its ability to process transactions for major banks in the region positions it as a key player in the fintech industry. With its recent funding round, Zone is well-positioned to expand its network coverage and launch additional functionalities, further solidifying its position in the market.
