VitalSwap has expanded its US-to-Africa payment services to cover smaller remittances and stablecoin checkouts. The fintech previously handled high-value transfers between Nigeria, the US, Europe, and China. It now reports about ₦1.1 billion in monthly total payment volume.
US-to-Nigeria corridor
VitalSwap added a US-to-Nigeria remittance corridor with partner Veem. Veem collects funds from US senders, while VitalSwap handles settlement in Nigeria. For $200 sent by bank transfer, no extra transaction fee applies.
Users and activity
VitalSwap serves more than 30,000 users across over 30 countries. The platform records about 11,000 monthly active users, many using its virtual card service. Most transaction activity comes from Nigeria, the US, and China.
Stablecoin checkout
VitalSwap Business Checkout lets merchants accept USDT, USDC, and other supported crypto assets. A Nigerian developer paid in USDC can convert the stablecoin to naira and withdraw to a local bank account. The service charges 0.8% per transaction.
VitalSwap completed a stablecoin pilot with selected customers and businesses, recording $600,000 in total payment volume. The company said it and its partners hold regulatory authorizations in the US, Nigeria, and Ghana. The company also plans to extend remittance service to Ghana.
Read more: technext24.com