100Pay, a prominent participant in the cryptocurrency payments space, announced in a press release that it has initiated a $200,000 startup fund in an effort to encourage the adoption of cryptocurrencies throughout Nigeria.
Along with the funding, the platform announced the opening of its new 4,000-square-meter headquarters in Port Harcourt, marking a significant advancement in its aspirations to expand throughout Africa.
The initiative, according to the cryptocurrency company, is intended to help startups and companies who are interested in incorporating cryptocurrency payments into their operations, especially with the help of 100Pay’s ground-breaking PAY Checkout platform.
In a statement, the business stated that the $200, 000 fund intends to support startups that are promoting the adoption of cryptocurrencies through PAY checkout by giving them access to the tools and assistance they need to integrate cryptocurrency transactions into brick-and-mortar stores, e-commerce sites, and mobile applications.
“With over 20,000 businesses already onboard, we’re focused on making crypto more accessible for Nigerian businesses,” said Brainy Josh, CEO and founder of 100Pay.
“Our $200K startup fund is a key part of that vision, giving businesses the tools and support to attract crypto-savvy customers,” he said.
“With over 20,000 businesses already onboard, we’re focused on making crypto more accessible for Nigerian businesses,” said Brainy Josh, CEO and founder of 100Pay.
“Our $200K startup fund is a key part of that vision, giving businesses the tools and support to attract crypto-savvy customers,” he said.
Also, the CEO disclosed that 100Pay’s infrastructure is driving HXAfrica, a Security and Exchange Commission-licensed housing exchange. According to him, HXAfrica simplifies real estate investment through tokenisation.
He made it known that it is partnering with Nano Apps, a cross-platform app store, to support app developers within its ecosystem.
“We are also forming strategic partnerships with major tech and retail brands, including LG, Samsung, Hisense, and BRUHM.”
Some of the startups that already benefited from the fund include Everest Mobility, a ride-sharing platform; Cloudnotte, an education firm dedicated to making education more accessible; and Meedleman, an escrow service designed to protect freelancers and ensure timely payments.
As per 100Pay, the core of this program is its PAY token, which gives users discounted cryptocurrency payments and gives businesses an easy way to accept digital currencies directly into their local bank accounts.
In order to integrate its PAY Checkout system, the company is also collaborating with leading e-commerce platforms, ride-sharing services, and utility payment apps.
According to the CEO, as part of 100Pay’s growth, the company has hired over 50 new employees and intends to add 1,000 more in the next 24 months.
He said, “A growing team of engineers and customer support specialists work out of the company’s Port Harcourt headquarters.”
