{"id":4107,"date":"2022-11-02T06:58:34","date_gmt":"2022-11-02T06:58:34","guid":{"rendered":"https:\/\/gospeedhub.com\/?p=4107"},"modified":"2022-11-02T18:09:44","modified_gmt":"2022-11-02T18:09:44","slug":"canza-nigeria","status":"publish","type":"post","link":"https:\/\/gospeedhub.com\/blogs\/canza-nigeria\/","title":{"rendered":"Canza Finance, A Nigerian Crypto Startup"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Canza Finance is a growing non-institutional-based crypto neo\u2013bank financial system founded in 2019 by Pascal Ntsama (a Cameroonian) and Oluwoye Oyedeji (a Nigerian), with its headquarters in Lagos state, Nigeria.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Its sole aim is to assist business owners in making payments for goods and services in foreign currencies amidst the stringent measures on Nigeria\u2019s treasury management and foreign exchange policy.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So far, Canza Finance has gained $3.27M capital from reputable organizations like Boxing Ventures, Consensys, Dominance Ventures, Hashkey Capital, and Protocol Labs to increase employability and expand its service delivery in Nigeria and other parts of the world.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company is set to provide some financial grounds amidst the naira devaluation against barriers to accessing traditional financial services in underdeveloped sub-Saharan Africa\u2019s financial structure, says Oyedeji.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a quote, he added,<em>&nbsp;\u201cOur vision is to become leaders in decentralized finance and to spearhead this movement to offer financial freedom to millions of individuals\u201d<\/em>&nbsp;through the agency of technology, using the mechanism of Decentralized Finance (Defi), supporting staking B2B, and cross border transactions to meet the needs for financial services.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Currently, Canza Finance has gained over 7,000 Celo wallets using a stablecoin like USSD and has recorded an average weekly transaction of over $200,000. Canza Finance has attracted over ten investors across the globe.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Canza Finance can be seen as a solution to the challenges facing local businesses that transact internationally by replacing Hawaladars \u2013 Hawaladars is a network of partners that help fulfill payment requests across borders.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Canza Finance option plan for local businesses has provided a channel to execute foreign exchange using cryptocurrency, and it can be said to be a \u201cDigital Hawala.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As virtual coins or \u201ctech-coins,\u201d so to speak, replace the conventional payment modes and channels, would there be a ripple effect on the nation\u2019s foreign exchange rate? Will it cause more plummeting on the naira?\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ratiocinating, what does it hold for the crypto market and the local currency, or is it a near-zero effect?&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Join the conversation; follow us on&nbsp;&nbsp;<a href=\"https:\/\/www.facebook.com\/gospeedhub\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a>,&nbsp;<a href=\"https:\/\/www.instagram.com\/gospeedhub\/\" target=\"_blank\" rel=\"noreferrer noopener\">Instagram<\/a>, and&nbsp;<a href=\"https:\/\/twitter.com\/gospeedhub\" target=\"_blank\" rel=\"noreferrer noopener\">Twitter<\/a>&nbsp;at GoSpeedHub.<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Image Source &#8211; Canza <\/p>\n","protected":false},"excerpt":{"rendered":"Canza Finance is a growing non-institutional-based crypto neo\u2013bank financial system founded in 2019 by Pascal Ntsama (a Cameroonian)&hellip;\n","protected":false},"author":8,"featured_media":4108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_1331110278889566212_1331110278889566212":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[10,12,22],"tags":[91,98,1163,1166,140,124,1149,56,113,1167,1164,1165],"class_list":["post-4107","post","type-post","status-publish","format-standard","has-post-thumbnail","category-banking","category-crypto","category-the-future-of-tech","tag-bitcoin","tag-blockchain","tag-canzafinance","tag-celowallets","tag-cryptocurrency","tag-cryptopayment","tag-ethereum2-0","tag-metaverse","tag-nfts","tag-nigerian-startup","tag-tech-coins","tag-ussd","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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