Zone’s Evolution: A Computational Leap in Nigeria
In 2022, Appzone rebranded to become Zone, marking Nigeria’s foray as the first blockchain-based licensed payment infrastructure company. Since its rebranding, the company has impressively processed over N1 trillion in transactions, spotlighting significant breakthroughs in Nigeria news. The company’s blockchain network stands out with 100 million transactions processed, averaging N10,000 each. Despite facing challenges like regulatory concerns and legacy systems, Zone is poised to expand its reach across Africa, connecting with both banks and fintechs.
Embracing Blockchain: A New Era for Financial Services
Zone’s collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) underscores its growing role in Abuja news and Lagos news. The partnership has elevated PoS transactions significantly, allaying failure points inherent in traditional systems and fostering seamless transactions. Osoba, VP of Marketing and Corporate Communications, highlights the push for a reliable, frictionless payment experience. As a trailblazer, Zone continually enhances its network’s scalability while pivoting towards new use cases like digital currency issuance.
Key Takeaways
- Pioneering Growth: Zone’s foray into blockchain has resulted in over N1 trillion in transactions, proving its pivotal role in fintech innovation.
- Collaborative Progress: Partnerships with groups like NIBSS fuel adoption and credibility.
- Future Aspirations: Zone aims for a continent-wide interconnected blockchain grid in Africa, pushing towards even broader inclusion.
Read more here.
How do you envision the future of blockchain technology in transforming traditional banking frameworks? Share your thoughts!
