Flutterwave, Africa’s leading payments technology company, has joined forces with Wema Bank and Kadavra BDC to launch ‘Swap’, a cutting-edge digital FX solution. Endorsed by the Central Bank of Nigeria, Swap aims to provide Nigerians seamless and secure access to foreign currency at competitive rates. This innovation comes at a crucial time when individuals and businesses face challenges in international transactions.
To further enhance accessibility, Flutterwave will introduce a convenient card issuance system, targeting over 10 million Nigerians starting from October 2023. This move is poised to greatly benefit those requiring swift access to Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) for educational, business, and travel needs.
Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, expressed enthusiasm for the regulatory approval and the trust bestowed by partners Kadavra BDC and Wema Bank in making this solution available to Nigerians. Cynthia Onyinyechi, CEO of Kadavra BDC, hailed Swap as a significant step in addressing FX challenges, and simplifying foreign currency access for Nigerians. Moruf Oseni, Managing Director of Wema Bank, emphasized their commitment to digital innovation and praised the potential impact of Swap across various sectors.
Access to Swap is now available for existing Flutterwave for Business and Send App users, with API integration for banks and new sign-ups on the platform.
