Nigeria’s digital economy is projected to hit $18.3 billion by 2026, but let’s be real—getting your hands on that money isn’t a walk in the park.
High exchange rates, endless withdrawal hassles, and slow payment processes make it frustrating. It’s like the money is there, but out of reach.
Fortunately, cryptocurrency exchanges have made it easier for Nigerians to take a slice of this pie, and Cryptonia is one of the platforms leading the way.
From Barriers to Breakthroughs
In 2021, more businesses and individuals started using crypto for payments, leading to a surge in cross-border transactions.
Stablecoins like USDT and USDC became the top choice because they held their value and were easy to convert to cash.
But in Nigeria, there was a problem—the Central Bank of Nigeria (CBN) had barred banks from processing crypto transactions, making it hard for people to access their money.
Oluwasanmi Oluwatimilehin, a crypto entrepreneur since 2020, shared that his journey to solving this problem began with OTC trading.
“During that time, a lot of people were on the lookout for ways to receive payment. So I started buying crypto over-the-counter (OTC) and looked for where to swap it for naira.
After a while, the business started gaining traction, and referrals kept coming in. ” he said
Years later, in December 2023, things started improving in the Nigerian crypto community when the Central Bank of Nigeria lifted the cryptocurrency ban on banks. Also, the Securities and Exchange Commission (SEC) published regulations for trading digital assets.
This was the moment Timilehin knew it was time to build a simpler crypto-to-naira solution.
“After four years of OTC trading and processing over $5 million in transactions, I knew it was time to create a product that simplified USDT/USDC to NGN conversions.
As soon as the CBN lifted its ban, I put together a development team, and by January 2025, Cryptonia was live” he said
For Timilehin, this was more than just a business move—it was about solving a real problem. He had seen firsthand how cryptocurrency was rewriting the financial future of many Nigerians.
The Rise of Stablecoin Adoption
Stablecoins are fast becoming a go-to solution for cross-border payments. They help Nigerian freelancers get paid by international clients and make it easier for merchants to sell globally.
In December 2024 alone, $5.1 trillion was transacted through stablecoins, proving their growing impact on the financial world.
The team at Cryptonia is working hard to enhance this innovation, making global transactions faster, more secure, and more accessible for everyone.
“What we do at Cryptonia is help individuals and businesses take a share of this pie in the financial world.
Imagine trying to receive a payment from abroad with no access to Cryptonia—you’d be stuck dealing with high exchange rates and slow banking processes,” Timilehin said.
How Cryptonia is Empowering Nigerians
Cryptonia is a stablecoin-to-naira exchange platform that makes it easy for remote workers, Web3 freelancers, and businesses in Nigeria to convert USDT/USDC to naira—without the usual hassles.
They offer competitive exchange rates, charge no transfer fees and process payouts in less than 10 seconds. Today, more than 2,000 individuals rely on the platform to convert USDT/USDC to naira.
What Sets Cryptonia Apart
The crypto exchange space is crowded, with players like Busha, Quidax, and Divest offering similar services. But Cryptonia stands out because of its niche focus.
Unlike traditional crypto exchanges with complex interfaces, Cryptonia keeps things simple. It’s a straightforward platform where users log in, swap USDT/USDC to naira instantly, and get their funds in less than 10 seconds. Think of it like sending a text message—quick and hassle-free.
Another major advantage? Cryptonia is a non-custodial platform, meaning users have full control over their funds. It also enforces a zero-hold policy which means you can swap USDT for NGN immediately after depositing funds.
Security is another priority. Cryptonia partners with Block Radar, which simplifies crypto wallet management for fintech companies.
They are also a member of The Circle Alliance Program, a global network of forward-looking organizations working together to innovate and expand financial inclusion for people around the world.
Cryptonia is Enabling Financial Freedom
Cryptonia’s vision isn’t just about swapping USDT to naira—it’s about enabling seamless international payments and helping individuals and businesses participate in the digital economy. Now, with more financial inclusion and stability, these people can earn globally and spend locally.
It’s also about redefining financial freedom. And Timilehin’s passion for this movement is impossible to ignore.
He shared:
“We want to create a safe and seamless financial ecosystem for Nigerians, helping them earn and access their money no matter where they are in the world.
Cryptocurrency has created new opportunities for many households in Nigeria, especially in low- and middle-income communities.
We deeply care about their financial well-being because we know that behind every transaction is a dream, a family, and a future.
That’s why we built our app—to ensure everyone has a simple, reliable way to receive money seamlessly.”
What’s Next for Cryptonia?
The company is already working on launching a non-custodial wallet and virtual dollar cards, and obtaining a license with the SEC, to give users more flexibility and financial freedom.
“We’re working hard to be the go-to platform for freelancers, crypto users, and businesses who need quick and easy access to their funds.
Our goal is to make sure that no Nigerian has to struggle to receive international payments ever again,” he added.
As the crypto space continues to evolve, one thing is clear: Cryptonia is not just another exchange—it’s a solution to a long-standing problem, making global payments simpler and more accessible for Nigerians.
The company is doubling down on its mission to give freelancers, crypto users, and businesses the financial freedom they deserve. No more delays. No more restrictions. Just seamless, instant access to your money—anytime, anywhere.
The future of global payments is here. Be part of it. Download the Cryptonia app now on Google Play Store or App Store.
