Overview
- The live "Send Crypto, Receive NGN" feature lets users send XRP, USDC, USDT, BTC, ETH, SOL, TON, TRX, and BNB, with naira deposited directly into recipients’ local bank accounts.
- Transfers typically settle in under five minutes, contrasting with traditional cross-border payments that can take one to five business days and average 6.49% in fees.
- Recipients avoid exchanges and conversion risk as RedotPay handles crypto-to-fiat conversion on existing banking rails.
- Ripple’s RLUSD stablecoin is expected to be added as a payout option in a future update.
- The Nigeria launch follows similar RedotPay services in Brazil and Mexico and aligns with Ripple’s broader push through regional partners such as Chipper Cash, Yellow Card, and VALR.