Interestingly, the Nigeria crypto users now got a means to exploit their digital currency as one of the cryptocurrency-driven platforms, Manila Finance has disclosed that it now allows the users to pay for their utility bills via cryptocurrencies like Bitcoin and Ethereum. According to the platform, its users in Nigeria, Ghana and Uganda can pay their electricity bills from their crypto balances as they have integrated a blockchain payment gateway with PHCN of Nigeria, KenGen PLC of Kenya and UEGCL of Uganda.
This is a big milestone for the crypto users in the country of Nigeria, especially this time when the banks in the region have been banned from using cryptocurrencies.
It is good to know that the Manila Finance platform was able to do this because they are independent on traditional banking services for their workings.
Long before now, Manila finance has been yearning earnestly that regulators will relax some of the restrictions to enable the crypto users in Nigeria to participate in the global digital economy which is without bottlenecks.
According to Manila Finance, allowing Nigerians to participate in the digital economy will be a major boost in the Nigerian economy since digital currency adoption has been gone on the increase since the last bull run. More are entering the space and already taking suitable positions as the blockchain world anticipates the mother of all bull markets come 2024/25.
Nigerian or users elsewhere where Manila Finance’s operation will commence will still stick to the original service providers through fiat. So, our services do not write off the use of fiat, it simply provides an outstanding and faster alternative – cryptocurrency to make payments of bills.
It is no news that the current restrictions in Nigeria and some other regions make switching directly from crypto to fiat difficult and this automatically makes the Manila Finance products a welcome turnaround. At the moment, the platform is making provision for users with the uncommon opportunity of paying for the multiple services we offer without recourse to the local currency.
Much also, they are adding our quota to nation-building by paying for these services in advance on behalf of the users and reselling the services in crypto.
Interestingly, countries like Nigeria and some other countries in Africa rank very high internationally in terms of digital currency adoption and use.
As stated by Manila Finance‘s CEO, Rutherford Atayobo:
In countries where there is less adoption and use, we are going to drive the adoption and position ourselves properly, pending when digital currency is embraced in those countries