Nilos, a global payment platform powered by stablecoin, has announced expansion to West Africa. This was announced on LinkedIn by Eytan Messika, one of its co-founders
This expansion will start with Ivory Coast, Senegal, Benin and Togo. The expansion will help simplify cross-border transactions by allowing instant payouts in XOF. It will also allow last-mile termination through mobile money services.
Cross-border payments across Africa have been characterized with high fees, currency volatility and slow processing times. Solutions like Nilos that use stablecoins can help individuals and businesses easily transfer funds and avoid the limitations of traditional banks.
What Nilos Offers
With this expansion, Nilos provides:
- Named top-up accounts in EUR, GBP and USD.
- Instant bank payouts in XOF.
- Mobile money integrations.
- Automated exchange rate quotes (no manual trading required).
Use Cases
Nilos’ services cater to a number of users, including:
- Remittance Apps – Allowing those in the diaspora to send money instantly to XOF-based accounts.
- Importers & Exporters – Facilitating currency conversions when buying goods in different regions.
- Fintechs in Nigeria & Kenya – Unlocking NGN-to-XOF transactions, expanding opportunities for digital finance players.
Also Read: Understanding Stablecoins: The Bridge Between Cryptocurrencies and Traditional Finance
