Kuda’s new multicurrency wallet offers seamless currency management for Africans living or working abroad
Digital banking platform Kuda has introduced a multicurrency wallet aimed at simplifying financial transactions for Africans across borders.
This innovative product supports five major currencies—the US Dollar, British Pound, Euro, Nigerian Naira, and Canadian Dollar—within a single wallet accessible through the Kuda mobile app... Read complete content click link below
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Currently in its testing phase, the wallet is part of Kuda’s broader expansion strategy to serve users who live, travel, or work internationally.
According to Nosa Oyegun, Senior Vice President of Business Banking at Kuda, the product eliminates the fragmented experience of managing multiple currency platforms.
“People don’t live in just one country anymore. Africans are global, and their money should move as easily as they do,” Oyegun stated during a media event in Lagos.
Unlike other solutions that require separate apps, Kuda’s wallet is fully integrated into its existing app. Users can open foreign currency balances, fund their accounts, convert between currencies, and send or spend money—all within the same interface.
The wallet is already available to selected users outside Nigeria on Android, with iOS availability expected soon.
Kuda is positioning this feature as a response to real customer behavior. In 2024 alone, over ₦100 billion entered Kuda accounts from LemFi, highlighting the increasing demand for cross-border financial solutions.
More than just a currency converter, the new wallet is designed to serve as an all-in-one global finance tool.
Users abroad can send money to Nigeria, convert funds, and spend freely during visits—without switching platforms. This continuity enhances convenience and encourages customer loyalty.
Oyegun emphasized that retaining users who migrate is also a key goal:
“These users haven’t churned. They’ve just changed countries. We want to keep serving them.”
This rollout aligns Kuda with a growing number of African fintech startups building solutions for a globally mobile African population. Yet Kuda aims to go further by becoming a long-term financial partner for its users, no matter where they are.
Kuda’s Q1 2025 figures showcase the bank’s growth, with ₦8.4 trillion in total transaction volume and ₦453 billion in savings deposits—indicators of growing trust in its digital-first model.
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Source:
https://punchng.com/kuda-introduces-new-multicurrency-wallet/
