Kuda Technologies is set to launch a multi-currency digital wallet, which aims to facilitate remittance for Africans, after securing a payment license in Canada.
According to a statement by Kuda, the multi-currency digital wallet is set to be operational by Q3 2024.
“With the launch of our digital wallet in Canada, we will offer Africans living in the country, including recent migrants, a simple, transparent, and cost-effective way to send money home, ultimately improving their financial wellbeing and strengthening their connections to their countries of origin,” Babs Ogundeyi, Group CEO and founder of Kuda, said during a recent at leading tech conference collision in Toronto, Canada.
Read also: Kuda to expand banking service in UK to Nigeria’s in diaspora
According to Ogundeyi, the product is designed to provide Africans living in Canada with a convenient, instant, and reliable way to send money back to their countries of origin.
He disclosed that the Kuda digital wallet will allow users to add funds in various currencies, including GBP, EUR, USD, and CAD, and seamlessly transfer money to African countries through a robust network of trusted partners.
According to him, the solution addresses the growing need for efficient and secure remittance services among the African diaspora in Canada, enhancing their ability to support family and friends back home.
“Our mission at Kuda is to make financial services accessible and affordable for everyone, especially underserved communities,” Ogundeyi stated.
Ogundeyi said further that Kuda is leveraging advanced technology and strategic partnerships to ensure that users can enjoy a seamless experience on the platform while supporting their loved ones.
“The new digital wallet by Kuda is poised to revolutionise the remittance landscape for Africans in Canada, providing a user-friendly platform that prioritises security and speed.”
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