The Federal Government of Nigeria has announced a proposal for a pan-African payment card aimed at facilitating direct transactions between African currencies. This initiative seeks to reduce reliance on foreign currencies like the U.S. dollar, thereby lowering transaction costs and enhancing intra-African trade.

The Federal Government has proposed the creation of a cross-border payment card aimed at facilitating transactions between African currencies directly, without the need for conversion through the U.S. dollar or other third-party currencies. This initiative seeks to enhance financial integration within the continent.

Yellow Card has obtained Swiss regulatory approval to operate through a supervised financial intermediary in Lugano, enabling banks, financial institutions, and large businesses to access its payment network across Africa and other emerging markets. This development establishes a Swiss base for institutional clients to utilize Yellow Card's stablecoin infrastructure.

In the latest TechCabal Daily, it is reported that Monzo is expanding its operations into Nigeria. Additionally, Mauritius' largest bank is looking to enter the Côte d'Ivoire market, Zanzibar has signed a $114 million deal for fiber infrastructure, and Daya has raised $2.4 million to support stablecoin payments.

OPay is playing a significant role in Nigeria's digital payment revolution by enhancing financial inclusion, facilitating commerce, and contributing to the development of the country's digital economy, according to Legit.ng.

OnePurze is a Nigerian fintech company that aims to simplify the process for Nigerians to receive payments and send money abroad. The platform is designed to address the challenges faced by users in international transactions, providing a more efficient and user-friendly experience.