Businesses in inflationary economies are struggling to make international trade payments. Wise references $11 trillion in annual cross-border trade from SMBs. This metric doesn’t include enterprise payments from businesses in developing economies, where the problem is most acute.
Moonah’s solution for this market is an end-to-end, fiat to USDC/T digital wallet for business payments that are quick, inexpensive, with plans to be fully compliant locally and internationally. The company has woven together the infrastructure using p2p exchange on-ramps, segregated digital wallets, institutional OTC off-ramps to USD, and even swaps to currencies including CNY.
Moonah’s first customers are Nigerian e-commerce merchants on Konga and Jumia who demand ~$200M+ in monthly USD volume to pay foreign suppliers.
Moonah are in discussions with the Nigerian SEC to become the country’s first regulated Digital Asset Custodian and Virtual Asset Service Provider and plans to apply for an EMI license in the UK.