Africhange is a blockchain-based money transfer platform that enables users to send funds between Africa and North America with competitive exchange rates and no hidden fees. The service ensures rapid transactions, typically completed within 20 minutes, while providing a secure wallet feature for easy management of funds.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional methods of sending money between North America and Africa often involve high fees, unfavorable exchange rates, and slow transaction times. This can create barriers for individuals and businesses needing to transfer funds quickly and affordably.
Solution
Africhange is a digital platform that facilitates money transfers between North America and Africa, offering competitive exchange rates and transparent fees. The platform aims to provide a faster and more cost-effective alternative to traditional money transfer services. Users can send funds directly to bank accounts, with transactions typically completed within 20 minutes. Africhange also provides a secure wallet feature that allows users to store funds and initiate transfers quickly. The service is registered with FINTRAC as a Money Service Business and licensed in Québec by the Revenu Québec.
Target Audience
The primary target audience includes individuals and businesses in North America and Africa who regularly send or receive money internationally.
Features
- Real-time exchange rate display with no hidden fees
- Digital wallet for secure storage and quick transfers
- Fast transfers to bank accounts, typically within 20 minutes
- Supports multiple currencies, including CAD-NGN, CAD-GHS, CAD-KES, and CAD-XOF
- Mobile app available for iOS and Android
- Option to schedule transfers for a later date or recurring intervals
- Ability to request money from other Africhange users