When we think about cross-border payments, long delays and high fees often come to mind. But one African stablecoin startup is changing the narrative.
Juicyway, a fintech innovator, has quietly processed over $1 billion in transactions for African businesses.
Without flashy marketing or a public app, this stealthy company is making waves in the financial tech space by leveraging stablecoins to deliver fast and affordable payment solutions.
Key Takeaway to African Stablecoin Startup
- African Stablecoin Startup: Juicyway, an African stablecoin startup, has transformed cross-border payments, processing over $1 billion in transactions while supporting African businesses globally.
How Juicyway Leveraged Stablecoins for Cross-Border Success
Juicyway began its journey three years ago with a simple mission: make global payments seamless for African businesses. The company relies on stablecoins like USDT and USDC to offer fast and cost-effective cross-border transactions.
Instead of transferring traditional currencies, Juicyway enables users to deposit funds into U.S. bank accounts, convert them to stablecoins, and send them to recipients in Africa or beyond.
This method allows businesses to sidestep high banking fees and delays associated with traditional methods, ensuring faster settlements and greater financial inclusion for African entrepreneurs.
| Juicyway by the Numbers | Details |
|---|---|
| Total Transactions Processed | 25,000 |
| Total Payment Volume (TPV) | $1.3 billion |
| Active Users | 4,000 |
The Secret to Juicywayโs Growth
Juicywayโs success stems from its organic growth strategy. Without launching a public app, it acquired an established payments business and relied heavily on word-of-mouth referrals.
The startup has attracted high-profile clients like Andela, Bolt, and Piggyvest, proving its reliability and trustworthiness.
One real-life example of Juicywayโs impact comes from Andela, a global tech talent marketplace. Despite raising millions, Andela struggled with transferring funds for operations in Africa.
With Juicywayโs stablecoin solutions, Andela overcame these challenges and streamlined its payments.
Solving Africaโs Liquidity Crisis
Africa contributes less than 1% to the $5 trillion global currency market, partly due to limited liquidity for intra-African currency exchanges.
Juicyway addresses this issue by providing access to liquidity pools that support fiat currencies like the Nigerian naira, USD, GBP, and CAD.
Juicywayโs Naira Rates platform also fosters transparency by displaying real-time exchange rates.
With nearly 500,000 Twitter followers, the platform has become a go-to resource for Nigerians seeking accurate forex data.
Partnering for Compliance and Security
To operate seamlessly across regions, Juicyway partners with reputable organizations:
- Access Bank: Facilitates fiat transactions in Nigeria.
- Bridge: Enables stablecoin management and infrastructure.
- Lead Bank: Provides virtual dollar accounts in the U.S.
Juicyway has also prioritized compliance by hiring experts like Joshua Wasserman, a former FDIC bank examiner. The company collaborates with Sumsub for advanced KYC and fraud prevention.
A Rising Star in the Stablecoin Ecosystem
Juicyway joins a growing number of African startups leveraging stablecoins to tackle cross-border challenges.
Notably, Yellow Card, another African stablecoin startup, recently raised $33 million to expand its treasury management services.
Juicyway sets itself apart by focusing on the orchestration layer, addressing both supply and demand needs. CEO Ife Johnson explains,
Our mission is to increase African access to the global economy. Every decision we make aligns with this vision.
Juicywayโs Revenue Model
Juicyway generates income through processing fees, which range from 0.2% to 10%, depending on transaction types. The startup plans to expand its revenue streams by earning interest on customer balances.
Rounding Up
Juicyway is more than just a fintech company, itโs a catalyst for financial inclusion in Africa. By leveraging stablecoins, this African stablecoin startup is bridging the gap between local businesses and the global economy.
With over $1 billion in transactions processed, Juicyway has proven that innovative technology can revolutionize traditional industries and empower underserved communities.
About Juicyway
Juicyway is a cutting-edge African stablecoin startup focused on simplifying cross-border payments for businesses.
The company provides seamless solutions through its stablecoin-powered platform, helping African entrepreneurs thrive in a global marketplace. Learn more about their mission on their official website.
FAQs
What is a stablecoin?
A stablecoin is a type of cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like the USD.
How does Juicyway ensure compliance?
Juicyway collaborates with global partners for advanced KYC and fraud detection while obtaining money transmitter licenses in key markets.
Who can use Juicywayโs platform?
The platform is ideal for businesses and individuals seeking fast, affordable cross-border payment solutions.
How does Juicyway differ from traditional payment platforms?
Unlike traditional platforms, Juicyway uses stablecoins to eliminate delays and reduce transaction costs.
What currencies does Juicyway support?
Juicyway supports various currencies, including the Nigerian naira, USD, GBP, and CAD.
Is Juicyway safe?
Yes, Juicyway employs strict compliance measures and collaborates with trusted partners to ensure secure transactions.