Fintechs rush for FX transactions will only benefit customers and startups with scale
Nigerian fintechs are focusing on consumer-oriented cross-border transaction products due to the stability of dollar-based transactions. The Central Bank of Nigeria reported remittance inflows of $553 million in July 2024, marking a 130% increase from 2023.
Stablecoins are finding product-market fit in emerging markets
SpaceX launched Starlink five years ago, becoming its biggest revenue driver. SpaceX partnered with Bridge to accept payments in stablecoins for global transactions.
Moniepoint mirrors Jack-Dorsey’s Square with new POS
Moniepoint is testing an all-in-one POS terminal. The new POS combines payment processing, inventory management, and transaction reconciliation.
QED seeds $9.9M in Cedar Money, a stablecoin payment platform
Cedar Money closed $9.9 million in seed funding led by QED Investors. The startup aims to improve cross-border payments using stablecoins.
MoneyHash Secures $5.2 Million to Transform Payment Orchestration Across the Middle East and Africa
MoneyHash raised $5.2 million in a pre-Series A funding round. Total capital raised by MoneyHash exceeds $12 million since early 2021.
