Nigerian crypto startup Coinazer expands to Brazil, clocks 5k customers

Nigerian crypto startup Coinazer has already clocked 5,000 customers, facilitated over US$3.8 million worth of transactions, and expanded to Brazil, with further expansion planned.

Founded in April 2022 by CEO Achigonye JohnPaul, alongside Egbuonu Ikenna, Malachi Chidera and Nnaji Joshua, Coinazer is on a mission to empower individuals and businesses by providing them with secure, seamless, and cost-effective access to the world of cryptocurrencies and blockchain technology.

Its wallet is designed to give users full control over their digital assets, while Coinazer provides a platform for users to buy, sell, and trade a wide range of cryptocurrencies. JohnPaul told Disrupt Africa that Coinazer was “more than a company”. 

“It’s a catalyst for change in the world of finance. It’s an ecosystem that brings together the power of cryptocurrencies, blockchain technology, financial inclusivity, security, and expert support to create a brighter financial future for individuals and businesses alike, particularly in regions where traditional banking services may be limited,” he said. 

“Coinazer’s vision extends beyond itself; it envisions a world where everyone has the opportunity to participate in the global financial landscape with confidence and control, including the seamless settlement of remittances, both locally and internationally.”

While many crypto wallets and exchanges have high fees, transaction failures, and limited accessibility, Coinazer aims to be the opposite of that. It wants to reduce fees, enhance security, and increase accessibility and reliability.

“Coinazer’s competitive edge lies in its commitment to addressing the identified market gaps and providing a holistic solution that combines the benefits of blockchain technology with financial inclusivity. As the African digital remittance market continues to grow, Coinazer is well-positioned to capture a significant share of this expanding market by offering secure, efficient, and cost-effective remittance services,” said JohnPaul.

Coinazer initially secured funding from an angel investor, and is now in the pre-seed phase, with “ambitious” plans to further develop and expand its offerings. So far, it has facilitated over US$3.8 million worth of transactions on/off ramps. 

“This impressive transaction volume reflects the trust and confidence users have placed in our platform to handle their digital assets,” said JohnPaul, adding that over 5,000 individuals and businesses recognise the value of its platform.

Coinazer’s global footprint has expanded to Brazil, which JohnPaul said was a significant step in its efforts to reach a broader audience.

“We have forged partnerships with over 40 key players in the blockchain and fintech industries. These partnerships enable us to enhance our services, expand our reach, and collaborate with like-minded organisations dedicated to advancing financial inclusivity,” he said.

“Coinazer’s expansion strategy extends beyond Nigeria and Brazil, as we aspire to become a globally recognised leader in digital remittances and blockchain-based financial services.”