As crypto adoption continues to grow in Nigeria, Elites Africa is betting that the next phase of digital assets in Nigeria is not trading, but utility.

The product allows crypto holders to purchase airtime and data, renew cable and TV subscriptions, pay electricity bills, and fund their Chowdeck wallet, all without converting their digital assets into naira.

From holding to spending

Nigeria consistently ranks among the top countries globally in crypto adoption. According to Chainalysis’ 2023 Global Crypto Adoption Index, Nigeria ranked second worldwide in grassroots crypto adoption. Stablecoins, particularly USDT and USDC, have become widely used as a hedge against currency volatility and foreign exchange restrictions.

Despite this adoption, practical spending options remain limited. Many users still rely on peer-to-peer markets to convert stablecoins into cash before paying for goods or services, a process that can introduce delays, price spreads, and counterparty risk.

Elite Africa is changing that by allowing users to purchase airtime C data, renew cable C tv subscriptions, pay electricity bills, and fund their Chowdeck wallet to order food.

Customers have the option to pay in three ways: by connecting their wallet, transferring to a designated wallet address, or scanning a QR code from their crypto wallet.

Payments are completed directly from the user’s crypto wallet through a streamlined

digital settlement process.

Removing the friction of P2P

For many crypto users in Nigeria, converting stablecoins to cash typically involves peer-to- peer (P2P) transactions, a process that can introduce delays, price spreads, and scam risks.

By enabling direct crypto payments, Elites Africa reduces, conversion losses from spreads, waiting times for bank settlement, exposure to fraudulent P2P transactions

The company says their long-term focus is on wallet utilization, ensuring that digital assets held by users can be deployed seamlessly in daily transactions.

The company currently supports USDT and USDC and plans to expand supported services as adoption increases.

As stablecoins continue to shape financial behavior across emerging markets, infrastructure that connects digital assets to real-world services may play a growing role in how value moves across the continent.

DISCLAIMER: This is a paid press release from Elites Africa. TechCabal has not independently verified the claims made in this release. Read with discretion.