By Aduragbemi Omiyale
Customers of a cross-border payments startup, Changera, especially those in Nigeria, Ghana, Kenya and Canada, can now execute cash-to-crypto deposits and withdrawals.
A statement from the firm disclosed that this has been made possible with its partnership with a global leader in digital peer-to-peer (P2P) payments, MoneyGram.
It said direct cash deposits and withdrawals are a major step forward for its customers, who can now access their funds swiftly and securely without the limitations previously experienced.
According to the organisation, this further underscores its commitment to advancing financial inclusion for the excluded, unserved and underserved regions in Africa and ensuring equal access to the benefits of the digital economy.
Changera noted that users in Canada, Senegal, Uganda and Kenya would enjoy reduced costs and faster transactions when cashing in at MoneyGram agents closest to their locations into their Changera Wallets, while withdrawals are available to existing and new customers globally.
“The primary objective of this integration is to simplify the process of funding Changera wallets for users.
“Our solution is coming very timely because 1.4 billion people currently don’t have bank accounts globally; that`s approximately a quarter of the world’s population, and 60 per cent of adults worldwide work in the cash economy despite access to digital wallets. MoneyGram’s extensive network of agents will allow easier deposit and cash transfers in these regions, and recipients will have unparalleled access to cash out their funds conveniently.
“This is the first collaboration of its kind between MoneyGram and a Fintech company in Africa, outside of traditional banking institutions. We’re proud to be pioneers of such,” the chief executive of Changera, Ms Ruth Iselema, commented.
The chief technology officer of Changera, Mr Umar Adamu, on his part, said, “We are thrilled that our goal to enable businesses and individuals to move money freely globally is coming to fruition through this integration with a global leader in cross-border money transfers and payment service MoneyGram.
“This collaboration marks a significant milestone for Changera as we expand our reach and enhance the user experience for our customers.
“We are revolutionising the way Africans engage with digital wallets, providing them with unparalleled convenience and accessibility as they on/off ramp with USDC over the Stellar network on our platform.
“It accentuates our commitment to fostering financial inclusion and empowering individuals throughout the continent.
“We are excited about the possibilities and look forward to transforming the financial landscape in Africa together.”
Founded in 2021, Changera’s business objectives are rooted in enabling seamless and secure cross-border payments and remittances for its users.
Since its inception, the fintech platform has delivered on its value proposition to allow businesses across Nigeria, Ghana, Kenya and Canada.
