In a bid to transform the landscape of international transactions, FiatPlug Technologies Limited is gearing up to launch a peer-to-peer (P2P) fintech application. This app is designed to revolutionise the way payments and remittances are handled globally, particularly addressing the needs of Nigerians amid economic uncertainties.
The importance of this innovation is underscored by the fact that remittances constitute 6.1 per cent of Nigeria’s GDP. Many Nigerian entrepreneurs and individuals face significant hurdles in receiving international payments, a situation FiatPlug’s new app aims to ameliorate.
Founder of FiatPlug Technologies, Chinaza Ojika, recently announced the imminent unveiling of this fintech solution.
“Our goal is to pioneer innovative methods for businesses and individuals to receive international payments through cryptocurrencies, seamlessly convertible to local currency,” Ojika stated.
Slated for official release in late January 2024, the app will be accessible on all major app stores, marking the commencement of FiatPlug’s full operational services.
Ojika emphasised the company’s commitment to developing advanced technologies that will redefine monetary transactions across the continent.
“We are not just simplifying and bringing in innovations, we intend to raise the banner of the country with our cutting-edge technology so that issues like BTA, PTA, and other financial challenges will be resolved once and for all,” Ojika explained.
Elaborating on the app’s name, Ojika noted: “‘FiatPlug’ combines the concept of fiat currencies with the ‘plug’ of blockchain technology, signifying our aim to facilitate global payments.”
