DuniaPay operates with the mission to provide Africans a digital platform where they can access flexible financial services. It offers seamless and affordable financial transactions to people living in Africa.
Most recently, DuniaPay has launched a feature that allows users to save while offering them 8% annual interest as compensation for saving with them.
DuniaPay has developed cXOF; a West African CFA Franc stablecoin on Celo’s DeFi ecosystem (Blockchain). The interest rates being given to savers on the DuniaPay platform are made possible by cXOF.
DuniaPay came as a result of ideas birthed by her Co-founder and CEO, Serge Keima, and his team of inventors who currently studies in Canada and are interested in solving problems around banking transactions by offering affordable and full-service financial services to West Africa’s tech generation.
The West African CFA franc which is also referred to as XOF is a currency that is used by 8 West African states namely; Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Niger, Mali, Togo, and Senegal.
However, 6 Central African countries use XOF and they are; Gabon,Chad, Central African Republic, Republic of Congo, Equatorial Guinea, and Cameroon. It is issued by the Central Bank of West African states and backed by the French Treasury.
With cXOF, residents of these 14 countries can save, earn interest and carry out transactions globally by swapping between currencies like cEUR, cUSD, and others on Celo.
DuniaPay app currently allows users to:
– Run International and domestic money transfers
– get QR code payment options
– Acquire airtime top-ups for mobile phones
– develop personal savings culture
– Carry out Crypto transactions for ETH, BTC, and even cUSD
On the DuniaPay’s app, there is an interesting feature that allows savers to make different, specific savings, and earn over 8% annual interest on their savings. Traditional banks do not offer interests as high as this.
Aside from providing users with amazing interest rates, all interests earned on DuniaPay’s bank account can be paid with flexibility in specific periods and in a secure environment.
You can trade cXOF on any Celo compatible wallet as DuniaPay continues to update users on additional information on usability for cXOF.
The DuniaPay application is available for download on Google Play store and the apple app store in Burkina Faso with plans to expand its reach to Ivory coast, Senegal, Mali, and Guinea. Its usage has grown quite significantly to 18,000 active users.
