Vella Launches To Enables Borderless Money Transfers
The Nigerian fintech startup has onboarded over 250 users and completed over 230 transactions worth over US$12,000.
Vella said it had launched its platform, which enables borderless transfers and remittances worldwide, powered by crypto.
Tolu Adebayo, Vella Co-founder, said: “Vella is positioned to become a facilitator and an enabler for crypto utility and spend-ability in Africa, offering both fiat and crypto rails to power remittance and payments for African individuals and businesses.”
“While fintech is gaining exposure and traction in Africa, a truly borderless payments infrastructure and crypto utility system has not been achieved, and Vella is out to make that happen,” Adebayo added.
The bootstrapped startup is now only active in Nigeria but aims to expand into Ghana, Kenya and South Africa in future. It makes revenues from commissions on transactions and fiat-crypto swap spreads.