JAXOPAY, a Nigerian fintech platform, is targeting Africa’s fragmented cross-border payment market with a service that enables users to send money to 31 countries, receive international payments from 30 countries and convert cryptocurrency into local currencies.
Ogboi Opinion, founder of JAXOPAY, told BusinessDay that the company is building an integrated financial platform to address difficulties individuals and businesses face accessing international payment systems, converting currencies and managing digital assets across different markets.
The platform, developed by Jaxopa Synergy, combines cryptocurrency trading, fiat wallets, international transfers, virtual dollar cards and everyday payment services in one digital ecosystem.
Read also: How N10bn crypto capital wall, multiple taxes threaten local exchanges
Opinion said the company’s strategy is to reduce the dependence on multiple applications and financial intermediaries by bringing essential financial services together, particularly for Africans seeking access to the global digital economy.
Through JAXOPAY, users can deposit Naira or cryptocurrency and send money to 31 countries. The platform also allows users to receive international payments from 30 countries directly into their accounts, with the option of withdrawing the funds into cryptocurrency wallets or transferring their equivalent value into Naira bank accounts.
The service is designed to serve freelancers, remote workers, digital entrepreneurs, traders and businesses that receive payments from international clients or maintain financial obligations across borders.
For many African businesses and individuals, accessing international payment channels remains complicated by currency conversion requirements, fragmented financial services and difficulties moving funds between different payment systems.
Opinion said JAXOPAY is responding to these challenges by integrating international payment collection, cryptocurrency transactions and conventional financial services within a single platform.
The company is also providing virtual US dollar debit cards that users can generate for international online transactions, including e-commerce purchases, digital subscriptions and payments for eligible global services.
By combining international payment collection with virtual card services, JAXOPAY is seeking to address both the receipt and spending of foreign earnings, an important requirement for freelancers and businesses participating in the global digital economy.
The platform also supports wallets that accommodate cryptocurrency and fiat currencies, including the Naira, Ghanaian Cedi and South African Rand, allowing users to manage different currencies and digital assets within one account.
Its cryptocurrency trading services allow customers to deposit Naira to purchase digital assets, sell their holdings at prevailing market rates and withdraw the proceeds directly into local bank accounts.
According to Opinion, the platform supports more than 50 cryptocurrency-to-cryptocurrency trading pairs without transaction fees, giving users additional flexibility in managing and diversifying their digital asset portfolios.
Users can also convert their cryptocurrency holdings into Naira or Cedis, with instant withdrawal options available.
The integration of cryptocurrency conversion into its international payment services gives JAXOPAY an opportunity to serve customers who need to move between digital assets and conventional currencies.
Beyond individual consumers, JAXOPAY is targeting businesses, institutional customers, bulk merchants and over-the-counter cryptocurrency traders with higher withdrawal limits designed to accommodate large-volume transactions.
Opinion said the company recognises that professional market participants have different financial requirements from ordinary retail customers, particularly regarding transaction volumes and access to liquidity.
This institutional focus could provide an additional growth opportunity as businesses seek financial infrastructure capable of supporting larger transactions involving both fiat currencies and digital assets.
JAXOPAY is also extending its services beyond cryptocurrency and international payments through everyday financial utilities, including airtime and data purchases, electricity bill payments and subscriptions to entertainment platforms such as DStv and GOtv.
The additional services are intended to position the platform as a broader financial utility provider rather than a cryptocurrency exchange alone.
For Opinion, the objective is to eliminate the friction associated with managing money across multiple applications by allowing customers to handle digital assets, international payments and routine financial obligations from one platform.
Nevertheless, JAXOPAY faces competition from established fintech companies, cryptocurrency exchanges, international remittance operators and payment infrastructure providers seeking to capture Africa’s growing digital financial services market.
Its ability to differentiate itself will depend not only on the range of services available but also on pricing, transaction reliability, customer protection, liquidity and the strength of its financial partnerships.
The company’s ability to scale across multiple markets will also depend on regulatory compliance and the operational infrastructure supporting its cross-border services.
Read also: Crypto’s Washington honeymoon ends as Democrats seize Congress, zero in on Trump ties
As African businesses and individuals increasingly participate in international trade and digital commerce, demand for accessible payment channels and efficient currency conversion is creating opportunities for fintech companies.
For JAXOPAY, the challenge will be converting its integrated service offering into a scalable business with sufficient liquidity, customer adoption and regulatory capacity to compete across multiple markets.
Opinion said the company is focused on developing practical financial solutions that reflect the needs of individuals, traders, merchants and businesses, while widening access to digital assets and international financial services.
The strategy places JAXOPAY in an increasingly competitive market where the ability to connect local financial systems with global payment networks could become a significant differentiator.
Royal Ibeh is a senior journalist with years of experience reporting on Nigeria’s technology and health sectors. She currently covers the Technology and Health beats for BusinessDay newspaper, where she writes in-depth stories on digital innovation, telecom infrastructure, healthcare systems, and public health policies.
Source: