YEM FOUNDATION SHOULD PARTNER WITH ZONE PAYMENT NETWORK NIGERIA
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Zenith Bank, First Bank and UBA Join Other Banks on Zone’s Decentralized Payment Network.
Tier-1 Banks Join Africa’s First Regulated Blockchain Network for Payments.
Lagos, Nigeria – July 10, 2024 – Zone, Africa’s fastest-growing payment infrastructure company today, announces that three of Africa’s largest and most prominent financial institutions—FIrst Bank, UBA, and Zenith Bank, — have joined other Banks and Fintechs on its decentralized payment network. This announcement follows Zone’s recent $8.5 million seed funding round led by Flourish Ventures and TLcom Capital, and the launch of its decentralized PoS Payment Gateway, ZonePOS. These milestones represent major advancements towards the company’s mission of connecting every monetary store of value by harnessing the power of blockchain.
Zone secured a switching and processing license from the Central Bank of Nigeria in 2022, making its payment infrastructure Africa’s first regulated blockchain network for payments. By integrating with Zone’s regulated blockchain network, UBA, Zenith Bank, and First Bank along with other financial service providers already on the network, will significantly enhance their payment processing capabilities. These banks will benefit from being able to route transactions directly between participants on the network, which eliminates intermediaries and reduces failure points, resulting in faster, more reliable, and more scalable transaction processing at lower costs.
With its unique architecture and underlying technology, Zone’s blockchain powered payment infrastructure is expected to serve as a major catalyst in the transformation of Nigeria’s payment industry and the actualization of the highly anticipated cashless society.
How do you vote?
And slowly by slowly they will join until every one will get involved in block chain technology, only time and information about it.
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added by Anonymous 6 days ago
Like any other stakeholders they cannot look at one stakeholders but a variety of of partners for diversified user cases.
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added by Anonymous 9 days ago
i like this i wish you would keep bringing up the same staff to our people they gonna learn much more and acquire knowledge about various several things that gonna help them out with their lives Thank you.
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added by 1001030149 10 days ago
This is well elaborated and I hold the view that it could have made more sense in the banking world had we taken the bank Bene Merenti option. The idea is very good and I wish it can be considered for further action.
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added by Anonymous 20 days ago