Financial technology firm launches cryptocurrency-based system for naira transactions using Bitcoin

Tapnob, a financial technology startup, has unveiled a payments platform that utilizes Bitcoin infrastructure to facilitate instant conversion of digital assets into naira, thereby simplifying cross-border money transfers.

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This development was announced in a press statement signed by Chief Executive Officer Fishon Amos on Thursday, stating that the platform, which was made public on July 15, 2025, allows users to send cryptocurrencies such as Bitcoin, USDT, and USDC, with recipients receiving the naira equivalent within seconds at locked-in rates.

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The company noted that this innovation addresses the persistent challenges associated with traditional remittance systems, including high transaction costs and delays, as well as the risks tied to informal peer-to-peer crypto exchanges widely used across Nigeria.

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According to the statement, Tapnob is focused on providing a faster, more transparent bridge between global digital assets and local financial systems, with Amos stating that the platform is designed to simplify global payments without requiring users to have technical knowledge of cryptocurrency.

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Amos emphasized that the platform allows people to send and receive money globally while still interacting with the local systems they trust, with speed, transparency, and reliability remaining the company's core priorities.

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The statement also added that the platform supports businesses by enabling merchants, including hotels, travel agencies, event organisers, and freelancers, to accept international payments and receive settlements directly in naira without the need for foreign bank accounts.

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Tapnob disclosed that between July and December 2025, the platform recorded millions in transaction volume, driven largely by organic adoption, while maintaining strong transaction success and user retention rates.

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The company's technical framework combines Bitcoin's Lightning Network with stablecoin systems and local payout infrastructure to deliver near-instant, low-cost transactions, according to the company's explanation.

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Chief Technology Officer Mubarak Aminu emphasized that the system was built to ensure reliability and efficiency, stating that the goal is to build a system that users can depend on every time by combining Bitcoin and stablecoin rails with local payout systems to make transfers feel instant.

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The company highlighted broader trends in Africa's financial ecosystem, noting that cryptocurrency adoption continues to rise, with increasing use of stablecoins for value preservation amid currency volatility.

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Tapnob's platform is positioned to support this shift by providing compliant and seamless conversion between digital currencies and local fiat, thereby enabling faster and more reliable financial transactions.

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The platform is operated by Reala Innovative Solutions Limited, as reported by Arewa PUNCH.