Due provides borderless accounts and cross-border payments through their
decentralised non-custodial platform, offering clients direct control over their assets.
The waitlist to request priority access is now live, with initial launch in Nigeria scheduled
for later this month.
Sub-Saharan Africa, the UK, EEA and the US are the priority corridors, with LatAm and
APAC also scheduled for Q1 ’24.
Due Network, a next-gen fintech startup, has announced their
plans to launch their global payments platform in Nigeria. The solution offers borderless
multi-currency accounts, enabling seamless international money movement for businesses
and individuals alike.
Due provides 50+ markets with uninterrupted access to global liquidity by connecting various
domestic payment rails around the world, while facilitating the transactions at much lower
costs and significantly faster settlement times compared to existing methods. As an
example, a company in Nigeria will be able to use NGN via NIP to pay their vendor in
Europe, who then can receive the payment in EUR via SEPA — instantly, at near-zero costs
and with a few clicks from a single interface.
“The global payments ecosystem is riddled with inefficiencies,” explained CEO and Co-
Founder Robert Sargsian. “Receiving funds from overseas, paying international vendors or
even moving intracompany funds across countries is expensive, slow and hard to access.
We are here to challenge and change that.”
Powered by open and interoperable decentralised ledger protocols, Due enables their
Nigerian clients to use Naira to add/hold digital US Dollars and Euros in their accounts,
which can then be used to send/receive funds across Sub-Saharan Africa, the UK, EEA and
the US. Notably, all Due accounts are fully non-custodial, meaning the clients maintain
complete control and custody over their funds on the platform. No intermediaries – not even
Due themselves – can access the client funds in any way, providing the account holders with
direct and unobstructed access without any restrictions or dependencies.
The company is headquartered in London, UK, and recently announced its $3.3 million Seed
round to further develop Due’s technology and expand its fiat currency connectivity to more
markets. Due’s waitlist is now live with initial launch slated for later this month, focused on
key corridors connecting Sub-Saharan Africa, the UK, EEA and the US, with expansion into
Latin America (e.g. Mexico, Brazil) and Asia-Pacific (e.g. Hong Kong, Singapore) scheduled
for Q1 2024. The company is also actively working to integrate digitised Real World Assets
(e.g. tokenised US Treasuries) to provide more markets with wider access to yield-bearing
assets.
Robert Sargsian and Co-Founder/CTO, Alex Popov, are joined by a global team spanning
across London, Lagos, Munich, New York, Sofia and Mexico City. The team brings
experience from renowned companies including Revolut, Uber, Binance and Bolt.
“We want to be a driving force in transforming how the global economy runs,” shared
Sargsian. “Our vision is a future where money is truly global, permissionless and inclusive.”
Published on Brandfit