Cryptocurrency is now accepted for utility payments in Nigeria.
Utility bills can now be paid in crypto in Nigeria
Manilla Finance is a blockchain-based platform to facilitate utility bill payments with cryptocurrencies like BTC and ETH. The platform recently shared that its customers in Nigeria can now use their Bitcoin and Ethereum holdings to pay their utility bills through a blockchain payment gateway integrated with the Nigerian power holding company PHCN.
Manilla fervently hopes that regulators will loosen some of the limits in order to make it possible for Nigeria to participate in the global digital economy without facing any obstacles. Because the use of digital currencies has skyrocketed since the previous bull run, the company has decided to take this course of action, which they feel will have a significant and good impact on the economy of Nigeria.
When it comes to the acceptance and use of virtual currencies, African nations like Nigeria, South Africa, Kenya, Zimbabwe, and Botswana, among many others, rank very high on the global scale. The company states that it will encourage the acceptance of digital currency in nations with less adoption and use. It will position itself appropriately in preparation for the time when digital currency is completely embraced in those countries.
This news comes after Nigeria was rated the most crypto-obsessed nation in the world. The dearth of reliable financial services in Nigeria is one of the primary factors driving the widespread adoption of cryptocurrencies across the African nation.
As a result, the Nigerian people have become increasingly interested in cryptocurrencies even in the middle of a very intense bear market and high regulatory scrutiny, with phrases such as “buy crypto” and “invest in crypto” leading the highest number of searches, which resulted in a total score of 370 for the evaluation.