African Crypto Payment Startup Ivorypay Selected For Funding By CV VC Labs
Ivorypay’s selection is significant as it is only one of three African projects that made the round.
CVVC recently kickstarted its 5th global blockchain startup accelerator where it selected nine innovative projects to work with. Ivorypay, an African-based cryptocurrency payments service based in South Africa with offices in Nigeria, was chosen as one of the projects to take part in the current round.
The CVVC batch 5 accelerator includes cutting-edge projects in the areas of payments, web3 dev training, regenerative finance, gaming infrastructure, no-code tools, marketplaces, and BNPL services.
Ivorypay was one of only three African projects to be chosen, making this decision significant. Its creative solution aims to make it easier for people to make online and offline payments using the blockchain on the African continent. Particularly for African businesses, Ivorypay seeks to remove barriers to both domestic and international payments.
Businesses in Africa face a wide range of difficulties, as is well known. The high cost of domestic and international transactions, restrictions on online purchases made in dollars using foreign currency, and the unpredictability of transaction completion times are just a few of these difficulties. With blockchain technology, Ivorypay is utilizing, it is resolving all of these issues for African businesses.
Utilizing QR codes, payment links, and checkout buttons, Ivorypay’s cutting-edge online and offline payment solution enables businesses to accept payments in stable cryptocurrencies. Additionally, it gives social commerce and SMEs access to a digital storefront where they can display their goods and accept immediate payments in stablecoins for goods sold.
The solutions offered by Ivorypay therefore seem ideal for the African continent. It offers businesses a lifeline and addresses one of the main obstacles that African businesses must overcome. It is the most recent innovation to help improve the business climate in Africa.
Ivorypay is receiving capital funding as well as access to additional funding options from Crypto Valley VC as part of the accelerator program. Ivorypay is currently taking part in the 10-week CVVC boot camp where it will receive individualized mentoring and learn specialized growth hacks. In order to provide African business owners with a reliable crypto payment solution, a strong blockchain infrastructure is being built.