100Pay Expands Crypto Adoption with $200K Sartup Fund

Fadekemi Ajakaiye 

100Pay, one of the leading players in the crypto payments industry, has announced a significant step forward in promoting cryptocurrency adoption across Nigeria with the launch of a $200,000 startup fund.

In addition to the funding, the platform also unveiled its new 4,000-square-meter headquarters in Port Harcourt, signaling a major step in its expansion plans across Africa.

The initiative, according to the crypto firm, is designed to support businesses and startups focused on integrating crypto payments into their operations, particularly through 100Pay’s innovative PAY Checkout platform.

The company said in a statement that the $200K fund aims to empower startups driving crypto adoption through PAY checkout, enabling them to access resources and support needed to implement crypto transactions in physical stores, e-commerce platforms, and mobile apps. 

Some of the startups that already benefited from the fund include Everest Mobility, a ride-sharing platform; Cloudnotte, an edutech firm dedicated to making education more accessible; and Meedleman, an escrow service designed to protect freelancers and ensure timely payments.

According to 100Pay, its PAY token, which offers users discounted crypto payments, is central to this program, providing businesses with a seamless way to accept digital currencies straight to their local bank accounts.

“With over 20,000 businesses already onboard, we’re focused on making crypto more accessible for Nigerian businesses,” said Brainy Josh, CEO and founder of 100Pay.

“Our $200K startup fund is a key part of that vision, giving businesses the tools and support to attract crypto-savvy customers,” Josh remarked.

Josh revealed that the company’s infrastructure enables payment acceptance in over 20 cryptocurrencies. He highlighted the platform’s capability for swift conversions from USDT and PAY tokens to Naira, thereby eliminating the need for peer-to-peer transactions.

He also disclosed that 100Pay’s infrastructure is driving HXAfrica, a Security and Exchange Commission-licensed housing exchange. According to him, HXAfrica simplifies real estate investment through tokenization.

The CEO disclosed that it is partnering with Nano Apps, a cross-platform app store, to support app developers within its ecosystem. 

“We are also forming strategic partnerships with major tech and retail brands, including LG, Samsung, Hisense, and BRUHM.”

The company is also working with top e-commerce platforms, ride-sharing services, and utility payment apps to integrate its PAY Checkout system.

In terms of expansion, 100Pay is also creating job opportunities, with over 50 new hires and plans to add 1,000 jobs in the next 24 months, the CEO said. 

“The company’s Port Harcourt headquarters is home to a growing team of engineers and customer support specialists,” he stated.