A payment gateway that enables businesses to accept cryptocurrencies has been launched by a Nigerian fintech startup.

According to company statement, Basqet’s public beta version already has 118 businesses signed up to start accepting payments in Bitcoin and several other cryptocurrencies. Furthermore, the company facilitated about US$1.3 million dollars in transactions prior to the launch.

The gateway platform enables merchants to accept crypto (including USDT, Bitcoin, Ethereum and Litecoin, with more to come) as payment, and be settled in US dollars, crypto and more than five other African currencies.

‘We are creating a missing link between people who hold cryptocurrency and businesses who want to accept crypto as a means of payment,’ says Basqet senior product manager Bunmi Eleshin. ‘And we are doing it without merchants having to experience a loss due to crypto’s price volatility.’

22 March 2022
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