For African freelancers working with international clients, getting paid is often more challenging than the work itself. Between high transaction fees, lengthy delays, and unfavorable exchange rates, many remote workers lose a significant portion of their hard-earned income just trying to access it.
Ajoke Asunmonu, Co-founder and CEO of Bloccpay, is on a mission to change that. Through Bloccpay, she’s providing freelancers with a seamless, secure, and fair payment solution—one that eliminates hidden costs and ensures they preserve the full value of their earnings. She speaks with Racheal Olatayo in this interactive session.
The idea for Bloccpay was born in a small room in Yaba, Lagos, when Ajoke’s co-founder, Jennifer, was paid through Deel while working remotely for a global company. At the time, withdrawing directly from Deel to her Nigerian bank account meant accepting the official bank exchange rate of ~$1 = NGN460, while the real market rate was NGN720–750. The result? A staggering 63% loss in earnings—an unacceptable reality for remote workers.
To reduce these losses, Jennifer had to jump through hoops—transferring funds in USD to third-party providers like Grey (incurring Deel’s $5 provider fee), converting to Naira at a 1% fee, and then withdrawing to her bank for an additional flat fee. Even with these extra steps, she still lost a significant portion of her income.
“Earning money is hard enough—accessing it shouldn’t be,” Ajoke explains. While platforms like Deel have introduced crypto payments, these options remain largely inaccessible to freelancers outside the U.S. and come with high costs. Recognizing this glaring gap, Ajoke and her team built Bloccpay to give African remote workers a better way to receive, manage, and withdraw their payments—without losing their income to unfair exchange rates and hidden fees.
With Bloccpay leveraging stablecoins like USDT and USDC, freelancers now have access to a frictionless, inflation-resistant payment system. In this exclusive interview, Ajoke shares insights into the inspiration behind Bloccpay, the challenges being tackled, and the company’s roadmap for the future.
Ajoke, thank you for joining us today. Bloccpay has been making waves in the fintech space. Can you start by telling us what problem you’re solving with Bloccpay?
Absolutely, and thank you for having me. The biggest challenge freelancers in Africa face today is receiving payments from global clients. Traditional banking systems often come with high fees, delayed transactions, and even outright restrictions when it comes to cross-border payments. Many freelancers rely on inefficient workarounds like using friends or third-party platforms, which are neither secure nor reliable. Bloccpay was created to eliminate these challenges by providing a seamless, low-cost, and reliable payment infrastructure leveraging stablecoins like USDT and USDC.
That’s a significant challenge, especially with Africa’s growing freelance economy. Why did you choose stablecoins as the foundation for Bloccpay?
Stability is key. The volatility of many local African currencies makes it difficult for freelancers to preserve the value of their income. Imagine working hard on a project, only for your payment to lose value within days due to inflation or currency depreciation. Stablecoins solve this by maintaining a 1:1 peg with the US dollar, allowing freelancers to store and withdraw their earnings without worrying about value loss. Additionally, stablecoins offer faster settlement times and lower transaction fees compared to traditional banking and even some digital payment platforms.
It sounds like Bloccpay is not just about payments, but also financial security. Can you walk us through how the platform works?
Sure. Bloccpay provides freelancers with a digital wallet where they can receive payments in USDT or USDC from their clients anywhere in the world. They can then choose to hold their earnings in stablecoins, convert them to their local currency, or withdraw through various supported methods, including mobile money and bank transfers. The process is straightforward, secure, and designed to minimize transaction friction.
What milestones have you achieved so far since launching Bloccpay in private beta?
It’s been an exciting journey. Since launching in private beta, we’ve onboarded nearly 200 users and processed almost $120,000 in transactions. We also joined the prestigious Circle Alliance Program, a huge credibility boost that strengthens our integration with the broader stablecoin ecosystem. Additionally, we are in active discussions with leading blockchain companies to establish key partnerships that will further enhance our payment infrastructure.
Impressive! What does the roadmap look like for Bloccpay? What can users expect in the near future?
Our immediate goal is to expand our user base and refine the platform based on feedback from freelancers. We’re working on additional integrations to offer more payout options across various African countries, ensuring freelancers can access their funds in the most convenient ways possible. Over the next year, we plan to roll out benefits features such as Health and Travel Insurance for freelancers, Cash Advance, and Compensation On-Demand, and deeper blockchain integrations to enhance transaction speed and security.
Long-term, we see Bloccpay evolving into a full-suite financial services platform tailored for freelancers and remote workers across Africa. We want to empower more people to participate in the global economy without the limitations of traditional banking infrastructure.
That’s an ambitious and much-needed vision. Before we wrap up, what’s your message to African freelancers who are struggling with payments today?
My message is simple: you deserve better. The global economy is shifting, and your skills and contributions should not be hindered by payment barriers. Bloccpay is here to make sure you get paid fairly, securely, and without unnecessary delays. We are building this solution with you in mind, and we invite every freelancer to join us on this journey towards financial freedom.
