Vella, a Nigerian based fintech startup has launched operations aimed at enabling borderless transfers and remittances across the world, powered by crypto. 

Launched in beta late last year, Vella has since onboarded more than 250 users, and successfully completed over 230 transactions worth over US$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,” co-founder Tolu Adebayo was quoted as saying.

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

The bootstrapped startup is for now only active in Nigeria, but aims to expand into Ghana, Kenya and South Africa in future. It makes revenues from commissions on transactions and fiat-crypto swap spreads.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry