Yuki, a Nigerian fintech company that simplifies digital assets for Web2 fintech firms in Africa, has formed a partnership with Aladdin Digital, a neobank for small and medium businesses, to bring digital assets to the forefront in Africa.
Launched in November 2022 by Nigerian invest-tech and robo-advisory startup, ComiBlock, Yuki gives African fintechs and neobanks APIs that make it easy to create and offer unique crypto solutions. For instance, any fintech could use Yuki to build a remittance service, stablecoin payments, crypto trading service, etc. in a week instead of months. They don’t have to write any complex code or worry about compliance like getting licenses or AML.
ComiBlock is a toolkit offering goal-based investing, planning tools, advice, curated and thematic crypto-portfolios to anyone with a smartphone.
This partnership is a significant milestone for the Web3 industry in Africa, as it ‘enables Aladdin’s community of over 75k users (including merchant accounts) to access digital assets and participate in the crypto ecosystem.’ By leveraging Yuki’s APIs, Aladdin can seamlessly integrate self-custodial crypto services within their app, providing a simple and intuitive user experience.
In September 2022, ComiBlock secured an undisclosed amount of funding from Expert Dojo, a growth accelerator based in California. The funding was aimed at helping the startup scale and invest in product development as it worked towards accelerating responsible crypto investing for individuals in frontier markets.
Following the funding, Yuki has emerged as one of ComiBlock’s crypto products. The platform has partnered with neobank, Aladdin Digital, to bring digital assets to more than 75,000 users in Nigeria aiming to take digital assets mainstream.
Aladdin itself transformed from a digital bank app to a full-scale financial product for individuals, freelancers, and SMEs consistently delivering state-of-the-art digital products on its banking platforms to support their hustle.
On Aladdin, users can borrow, save, invest, make payments, get cards, get insured, buy and sell products and services and interact with other users.
“African fintechs have already shown us what they can do when it comes to taking banking UX to the next level. Now, with digital assets, they have the potential to achieve even more,” said CEO, Dennis Mary.
“I started Yuki to provide them with compliant tools and infrastructure to do transform digital assets UX in Africa also. I deeply believe that crypto in Africa can’t succeed without the incumbent fintechs adopting it.”
Mary added that ComiBlock is happy to support the Aladdin team as they venture into the cryptocurrency world.
“Together, we can drive innovation and empower more people to access the benefits of decentralised finance.”
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