Cardify (www.cardify.co) is a fintech company that provides a digital wallet with the ability to create both Naira and Dollar wallets. The platform offers users the convenience of depositing and withdrawing funds in their preferred currency, providing a seamless experience for its users.
The Naira wallet on Cardify allows users to store and manage their Nigerian currency. This is particularly useful for users who want to avoid the volatility of the foreign exchange market and prefer to transact in their local currency. The platform also enables users to deposit Naira into their wallet, which can be done via bank transfer or through Peerstack, a peer-to-peer system developed by Cardify.
With Peerstack, Cardify users can securely transfer funds to other users on the platform. This makes it easier for users to send and receive money without incurring high transaction fees or waiting for long processing times. It is also a more secure way of transferring funds since the transactions are encrypted and can only be accessed by the intended recipient.
Cardify's USD wallet allows users to deposit and withdraw funds in US dollars through stablecoins such as USDT and BUSD.
Stablecoins are cryptocurrencies that are pegged to a fiat currency, in this case, the US dollar. This means that the value of the stablecoin remains relatively stable, making it an ideal option for users who want to avoid the volatility of other cryptocurrencies.
The USD wallet on Cardify provides users with a convenient way to transact in US dollars, without the need for a traditional bank account. This is particularly useful for users who live in countries where it may be difficult to open a US dollar-denominated bank account or for those who want to avoid the high fees associated with traditional banking.
In addition to its Naira and USD wallet system on Cardify, users can easily leverage the wallets to fund their Cardify virtual debit cards and pay bills, this means users can fund their virtual cards for payments on international platforms with stablecoins and also pay bills with same.
Overall, Cardify's Naira and USD wallets provide users with a seamless and convenient way to manage their funds in their preferred currency. With its peer-to-peer system and support for stablecoins, Cardify is a digital wallet that is ideal for users who want to transact securely, avoid high fees, and have greater control over their money.