• Latest
  • Trending
‘Appzone’ Switches To ‘Zone’, Consolidates On Core Financial Services Using Regulated Blockchain Network

‘Appzone’ Switches To ‘Zone’, Consolidates On Core Financial Services Using Regulated Blockchain Network

December 1, 2022
Google Invests $300m in Anthropic As Large Media Agencies Focus and Invest in AI Powered Advertising

Google Invests $300m in Anthropic As Large Media Agencies Focus and Invest in AI Powered Advertising

February 7, 2023
China Accelerates Generative AI Quest With ‘Ernie Bot’ Launch

China Accelerates Generative AI Quest With ‘Ernie Bot’ Launch

February 7, 2023
Nairagram To Boost Fund Transfer In Africa With Tempo France Partnership

Nairagram To Boost Fund Transfer In Africa With Tempo France Partnership

February 7, 2023
Hope PSB Backs CBN Cashless Drive With Rural Initiative

Hope PSB Backs CBN Cashless Drive With Rural Initiative

February 7, 2023
FG Awards Zinox Technologies Over N85bn 2023 Digital Census Contract

FG Awards Zinox Technologies Over N85bn 2023 Digital Census Contract

February 6, 2023
Pantami Harps of Harnessing Potentials In The 4IR Through Proactive Policies

Pantami Harps of Harnessing Potentials In The 4IR Through Proactive Policies

February 6, 2023
Nigeria And Niger Republic Seek Ways To Prevent Boarder Frequency Conflict

Nigeria And Niger Republic Seek Ways To Prevent Boarder Frequency Conflict

February 6, 2023
2023 Elections: New Horizon Boss Tasks INEC On Stress Test On BVAS

2023 Elections: New Horizon Boss Tasks INEC On Stress Test On BVAS

February 6, 2023
FPG And FICO Join Technology To Accelerate Digital Transformation In West Africa

FPG And FICO Join Technology To Accelerate Digital Transformation In West Africa

February 6, 2023
CBN U-Turn on OTC payment To Douse Tension in Banking Sector

CBN U-Turn on OTC payment To Douse Tension in Banking Sector

February 3, 2023

Valentine: Konga Rolls Out Free Movie Date For Lovers, Other Mouthwatering Deals

February 3, 2023
Tech Jobs: 2,000 To Go At Online Payment Firm, PayPal

Tech Jobs: 2,000 To Go At Online Payment Firm, PayPal

February 3, 2023
EBusiness Life
Tuesday, February 7, 2023
Newsletter
Contact Us
  • Home
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
    • State News
  • Big Issues
  • Columns
    • Contributions
    • eScope
    • Inside Issues
  • Cyberparenting
  • Tech Talk
    • Innovations
    • World of Sc & Tech
  • Gadget Review
    • Phones
    • Laptops
    • Accessories
  • Interviews
  • Events
  • PhotoNews
  • Archives
  • Digital Edition
No Result
View All Result
E-Business Life
No Result
View All Result

‘Appzone’ Switches To ‘Zone’, Consolidates On Core Financial Services Using Regulated Blockchain Network

by Admin
December 1, 2022
in NewsBytes
Reading Time: 3 mins read
A A
0

Appzone, one of Africa’s Fintech Software Providers, has rebranded to “Zone”, a regulated blockchain Payment Infrastructure company. By building Africa’s first layer-1 blockchain network, Zone will enable payments and the acceptance of digital currencies for Financial Service Providers globally.

Zone’s regulated blockchain network enables direct transaction flow between financial service providers without an intermediary, bringing reduced transaction costs, instant dispute resolution, and absolute reliability across Africa’s payment borders and beyond.

YOU MAY ALSO LIKE

Google Invests $300m in Anthropic As Large Media Agencies Focus and Invest in AI Powered Advertising

China Accelerates Generative AI Quest With ‘Ernie Bot’ Launch

As part of its evolution, Appzone is pivoting from its cloud-based SaaS infrastructure to offer payments processing services that support both fiat money and digital currencies, with the intention to enable a hybrid interim period in finance where TradFi and DeFi will coexist seamlessly.

In the case of fiat payments, Zone connects some of Africa’s most prominent Banks and Fintechs within and across countries and utilises a native stable coin to provide real-time settlement for cross-border transactions.

In 2022, Zone was issued a ‘payment Switching and Processing Licence’ by the central bank of Nigeria, making it the first payment infrastructure company based on Blockchain to be licensed in Africa.

Following the rebrand, Appzone’s Banking-as-a-Service business has been carved into a separate standalone company, known as Qore, so it can continue serving existing clients and growing the SaaS platform’s reach.

This new standalone business will be led by some members of its elite leadership team, including Co-founder & Executive Director of Appzone, Emeka Emetarom, and Co-founder & CEO of Appzone’s subsidiary, Appzone Core, Mudiaga Umukoro. Appzone’s products currently process over $2 billion annually for 500+ banks, Fintechs and MFIs in seven countries – this includes payments processing for six of Africa’s top 25 banks.

Speaking on the rebrand, Zone Co-founder and CEO, Obi Emetarom said, “We have led Africa’s fintech sector in global firsts for over a decade. As Appzone, we launched the first core banking and omnichannel software on the cloud as well as the first multi-bank direct debit service based on single global mandates.

“With this transition to Zone, we are utilising the power of blockchain technology to connect every monetary store of value and enable reliable, frictionless and universally interoperable payments.

“In doing this, we are building one global network to pay anyone through any means, in any currency, which will ultimately maximise financial inclusion and accelerate economic prosperity for Africa and the rest of the world.”

Co-founder and CTO for Zone, Wale Onawunmi, added his voice: “At Zone, we’ve always been early adopters of innovative technology with the potential to transform industries – in this case, the finance industry.

“Our next-generation decentralised payment technology, which is the first of its kind, will challenge the status quo and become the future of payments for the world.

“We are encouraged by the pace of adoption we have seen so far and remain passionate about enabling financial services providers to reach their full potential.”

According to the United Nations, Africa’s population will grow to approximately 1.7 billion in 2030, with a potential for $91 billion in cross-border payments and a retail value of over $1.5 trillion. But at an $8.97 fee per transaction, cross-border payment within sub-Saharan Africa still has one of the most expensive remittance structures.

In addition, beneficiaries typically cannot have value delivered instantly to their Bank accounts or mobile wallets. Zone’s Layer-1 blockchain network will allow payments initiated from one country in one currency to be received instantly in another country and currency at a fraction of prevailing costs.

Blockchain is a digital ledger of transactions that provides users with traceability and security without the need for middlemen. Using blockchain, Zone is working on completely digitising and decentralising payments, thereby paving the way for a cashless society where payments transcend borders.

Formerly known as Appzone, the Google for Startups Accelerator alumnus, now known as Zone, is on a mission to connect every monetary store of value using blockchain.

Share this:

  • Tweet
  • WhatsApp
  • Telegram
ShareTweetSendShareShareBookmark

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

Google Invests $300m in Anthropic As Large Media Agencies Focus and Invest in AI Powered Advertising

Google Invests $300m in Anthropic As Large Media Agencies Focus and Invest in AI Powered Advertising

February 7, 2023
China Accelerates Generative AI Quest With ‘Ernie Bot’ Launch

China Accelerates Generative AI Quest With ‘Ernie Bot’ Launch

February 7, 2023
Nairagram To Boost Fund Transfer In Africa With Tempo France Partnership

Nairagram To Boost Fund Transfer In Africa With Tempo France Partnership

February 7, 2023

Ebusiness Life

Ebusiness Life is news Tech company. We give you latest updates on Tech News and other tech related news.

Join our mailing list and get latest updates.

Check your inbox or spam folder to confirm your subscription.

Popular Posts

Google Invests $300m in Anthropic As Large Media Agencies Focus and Invest in AI Powered Advertising

Google Invests $300m in Anthropic As Large Media Agencies Focus and Invest in AI Powered Advertising

by Admin
February 7, 2023
0

China Accelerates Generative AI Quest With ‘Ernie Bot’ Launch

China Accelerates Generative AI Quest With ‘Ernie Bot’ Launch

by Admin
February 7, 2023
0

Nairagram To Boost Fund Transfer In Africa With Tempo France Partnership

Nairagram To Boost Fund Transfer In Africa With Tempo France Partnership

by Admin
February 7, 2023
0

Categories

  • Big Issues
  • Columns
  • Cyberparenting
  • eBusiness
  • Gadget Review
    • Laptops
    • Phones
  • Interviews
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
  • Opinion
  • Tech Talk
    • World of Sc & Tech
  • Uncategorized

Quick Links

  • Contact Us
  • Newsletter
  • Privacy & Policy
  • Contact Us
  • Newsletter
  • Privacy & Policy

© 2022 Ebusiness Life - Desinged by Kreative TechPoint.

No Result
View All Result
  • Home
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
    • State News
  • Big Issues
  • Columns
    • Contributions
    • eScope
    • Inside Issues
  • Cyberparenting
  • Tech Talk
    • Innovations
    • World of Sc & Tech
  • Gadget Review
    • Phones
    • Laptops
    • Accessories
  • Interviews
  • Events
  • PhotoNews
  • Archives
  • Digital Edition

© 2022 Ebusiness Life - Desinged by Kreative TechPoint.