African PayTech Flutterwave launches digital FX solution

African's leading PayTech Flutterwave has launched a digital FX solution in partnership with Wema Bank and Kadavra BDC. 

African’s leading PayTech Flutterwave has launched a digital FX solution in partnership with Wema Bank and Kadavra BDC. 

Known as Swap, the service is set to enable Nigerians to have immediate access to foreign currency at competitive exchange rates.

The cutting-edge solution solution is backed by the Central Bank of Nigeria (CBN) to serve as a secure & reliable digital platform, at a time when Nigerians and businesses are experiencing limited access to foreign currencies which has posed a significant challenge for individuals seeking to engage in international transactions, investments, and other cross-border financial activities.

Commenting on the product launch, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said: “At Flutterwave, our dedication to innovation is matched only by our commitment to simplifying financial processes for endless possibilities. Swap represents a significant leap forward in how Nigerians will engage with foreign exchange.

“We understand the FX access challenges individuals and businesses face, and Swap is our answer to those pain points, providing a seamless and efficient platform for currency exchange. We are honored to have secured regulatory approval and the trust of our partners Kadavra BDC and Wema Bank to bring this life changing solution to Nigerians.”

Swap will ensure that every exchange is not only seamless and secure, but also financially rewarding, granting consumers greater purchasing power and businesses massive investment potential.

Moruf Oseni, Managing Director, Wema Bank said “Our support for digital innovation in the Nigerian finance industry has been unrivaled since the launch of our digital Bank, ALAT. As a bank that is committed to digital innovation, we are proud to be on this journey with Flutterwave because we believe a product like Swap will have a major impact across all sectors.”

One-click access to Swap is available to existing users of Flutterwave for Business and Send App. Swap will also be available via API for banks, and to Nigerians who sign up newly on the platform.

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