The Central Bank of Nigeria (CBN) has awarded Currenzo, a Nigerian subsidiary of global financial platform Africhange, an International Money Transfer Operator (IMTO) license. This license allows Currenzo to process remittances directly into Nigeria without intermediaries, offering faster and more affordable transfers for Nigerians locally and abroad.

With this approval, Currenzo can now partner directly with Nigerian banks to streamline payments and reduce costs. The company has already partnered with three Nigerian banks and is actively seeking a settlement partner to secure transactions.

By using blockchain technology, Africhange aims to offer low-cost, efficient cross-border transfers, particularly for the African diaspora.