With Nigerians more and more turning to cryptocurrencies as a means of hedging towards both the pandemic’s results and the Naira’s volatile streak, the country’s most well known crypto trade has announced record daily new users along extra efforts it has undertaken to enhance customer event. Naijacrypto is the country’s flagship crypto exchange and maintains to make massive strides in the fintech market with an aim in opposition to introducing novel blockchain answers to restore Nigeria’s embattled economic system. Following a key partnership with innovative SME lender Monify, the company has brought an immediate deposit feature, listed new currency pairs, formally unveiled its crypto debit card, launched an associates program to deliver opportunities for businesses and individuals in the blockchain space, in addition to opened the doorway for entrepreneurs to launch their projects by crowdfunding via IEOs. Lastly, just as businesses scramble for traders amidst the reeling financial climate precipitated by the pandemic as well as a spread of elements, Naijacrypto has opened the doorway for entrepreneurs to take competencies of crowdfunding opportunities uniquely accessible within the blockchain space.
Globally, over $1. 7B was raised in 2019 via Initial Exchange Offerings IEOs. These are an exchange based adaptation of ICOs which offer better safeguard, transparency and responsibility to both customers and buyers. In the future, IEOs are expected to play a outstanding role as the go to mediums for crowdfunding projects in the fintech sector. Forward wondering corporations may believe this an ideal opportunity to elevate funds and jump start tasks that have been stifled by existing circumstances.
The majority of the small businesses affected by the pandemic are facing funding problems. The first masterclass, themed “Accessing the Right Funding for Your Business”, addressed this need. MTN Nigeria’s Chief Financial Officer CFO, Modupe Kadri, together with other field matter experts threw light on ways SMEs can access funding from buyers, and the role a properly controlled cash flow system plays. “Anybody that desires to develop some securities to you’ll are looking to know the energy of you cash flow management; how you generate the income streams and how you’re going to keep the lead on that. The same thing also applies to your costs”, Kadri said.