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Nigerian fintech startup, Vella, launches borderless money transfer platform

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One of Nigeria’s fastest growing fintech startups, Vella, has launched its money transfer platform which, according to it, will enable it carry out borderless transfers and remittances anywhere in the world

The platform which will be powered by cryptocurrency, according to Vella’s co-founder, Tolu Adebayo, will position the platform to “become a facilitator and an enabler for crypto utility and spend-ability in Africa.:

Since 2021 when it launched in beta, Vella has successfully onboarded more than 250 users and completed over 230 transactions worth a cumulative $12,000.

“Vella is positioned to become a facilitator and an enabler for crypto utility and spend-ability in Africa, offering both fiat and crypto rails to power remittance and payments for African individuals and businesses,” Adebayo said.

“While fintech is gaining exposure and traction in Africa, a truly borderless payments infrastructure and crypto utility system has not been achieved and Vella is out to make that happen,” he added.

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Nigerian crypto startup, KoinWa launches Web3 education platform for varsity students

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Nigerian cryptocurrency startup, KoinWa has announced launching a Web3 education platform, EduBlok, with the aim of empowering university students with relevant and beneficial skills.

The CEO of the crypto company, Hakeem Disu, who made the announcement, said the new platform was the firm’s way of contributing to the educational development of Nigerian students through its education arm.

“EduBlok provides users with blockchain education and training, and helps other educational institutions design blockchain and artificial intelligence curricula,” Disu said.

Disu, who is both a trained teacher and author of the e-book “How blockchain is solving real life African problems,” said Edublok, which is funded by KoinWa, had already impacted over 10,000 beneficiaries in university-underserved communities, as well as given out more than 15,000 e-books.

“Blockchain been the next big thing in the technology space, but is not included in the education curriculum of Nigeria,” Disu said.

“EduBlok is looking to solve this problem by designing the academic curriculum and textbooks, and also providing blockchain education and entrepreneurship skills,” he said.

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Nigerian insurtech startup, ETAP partners AIICO to redefine car insurance

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Nigerian insurtech startup, ETAP has entered into a partnership with frontline insurance firm, AIICO Insurance which will make it easier for Nigerians to to buy car insurance and make claims, driving increased penetration of car insurance in the country.

The Chief Executive Officer (CEO) of ETAP, Ibraheem Babalola, who announced the partnership with AIICO, said with the new arrangement, buying and claiming on car insurance would be as easy as “taking a picture, providing drivers with access to a range of daily, weekly, monthly and quarterly plans to choose from.”

“We are proud to collaborate with AIICO Insurance on this transformative collaboration,” Babalola said.

“The app’s ability to reward safe driving habits while providing rewards for doing so as well as quick access to insurance purchase and claims payment will undoubtedly empower car owners and encourage responsible behaviour on the roads.

“We invite everyone to download the app from Apple App Store or Google Play Store and experience a new dimension of driving,” he added.

Also commenting on the partnership, Gbenga Ilori, head of retail business of AIICO Insurance, said:

“We are elated to unveil our collaboration with ETAP, marking the inception of a transformative era in car insurance. By harnessing the power of gamification, we are poised to shift perceptions around car ownership and driving in Nigeria.

“This initiative will not only elevate the driving journey but also significantly enhance safety on our roads”.

The ETAP app uses machine learning to build intelligent risk profiles that determine appropriate premiums for each driver, allowing them to achieve lower premiums by driving safely, the company said.

By using advanced telematics, the driving experience is gamified to improve driving behaviour and drivers can earn Safe Driving Points that can be exchanged for shopping vouchers for the most in-demand retail outlets, fuel, cinema and concert tickets, and other exciting experiences, the company added.

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