Breaking News: In a 9am news nigeria report says Nigeria’s top 3 banks and financial giants in Africa, UBA bank, First bank and Zenith bank have enrolled into Zone, a decentralized payment network. Zone which is already serving many other banks and fintechs across Africa is a decentralized and regulated blockchain network for payments.
9AM News Nigeria gathered that the enrollment by Nigeria’s top tier banks came on the heels of a recent seed funding of a whopping $8.5 million obtained by Zone and provided by Flourish Ventures and TLcom Capital. And the launch of its decentralized PoS Payment platform, ZonePOS.
The remarkable achievements underscores the Fintech’s mission of harnessing blockchain technology to connect every monetary store of value.
In 2022 Zone obtained a switching and processing license from Nigeria’s Central Bank making it Africa’s first blockchain based payment platform.
Enrollement Of Banks
The enrollment of UBA, Zenith bank and First bank into Zone will result in a greater enhancement of their capability and ease to effectively process payments.
They will enjoy the benefits of being able to channel transactions easily between other participants on Zone and this will reduce the rate of failure, increase the speed and crash the costs of transactions, 9AM News Nigeria Reports.
Zone’s blockchain based payment platform is projected to ensure the revolution of electronic payments in Nigeria and usher in the era of a full-blown cashless economic system.
The enrollment of these top tier banks and others will facilitate Nigeria’s financial ecosystem because establishing connection between financial service providers offers payment experiences with reduced intermediaries, reduced friction and reduced risks.
Obi Emetaron, CEO and co-founder of Zone commenting on the big announcement said “We are thrilled to have UBA, Zenith Bank, and First Bank in our network. Their integration into our decentralized payment network is a significant milestone in our journey to advance the payment landscape in Nigeria and the rest of the world.
Having some of Africa’s largest and most reputable financial institutions underscores the growing trust in our technology and its ability to deliver on our promise of reliable, frictionless and universally interoperable payment experiences. As we continue to expand and enhance our payment network, we remain committed to connecting every monetary store of value and enabling a truly inclusive financial ecosystem operating without cash.”
More Information About Zone
Zone is a regulated blockchain network for payments. It accepts digital and fiat currencies. It will help in connecting previously excluded financial institutions into an all-inclusive payment ecosystem.
The Fintech, which is Africa’s first decentralised payment network will allow participating services providers to connect more directly with each other, while also making settlements, dispute management and reconciliation completely autonomous.
For more information
please visit www.zonenetwork.com.
Contact: Olayiwola Osoba
Vice President of Marketing & Corporate Communications Zone
Email: [email protected]
Phone: +234-708-402-9192
