Digital bank Kuda has launched a multicurrency wallet as part of its expansion strategy to serve Africans living, working, and travelling across borders.\n<\/p>\n
The product, which is currently in testing, allows users to hold, fund, and convert between five major currencies\u2014the United States Dollar, British Pound, Euro, Nigerian Naira, and Canadian Dollar\u2014all within a single wallet on the Kuda app.\n<\/p>\n
Speaking during a recent exclusive media parley in Lagos, Senior Vice President, Business Banking, Kuda, Nosa Oyegun, said the new wallet is designed to simplify the fragmented experience Africans face when managing money across different countries and currencies.\n<\/p>\n
\u201cPeople don\u2019t live in just one country anymore. Africans are global, and their money should move as easily as they do,\u201d Oyegun said.<\/p>\n
According to him, the wallet is already available for eligible users outside Nigeria on Android devices, with an iOS rollout set to follow.\n<\/p>\n
He explained that Kuda deliberately chose not to create a separate app for the wallet. Instead, it will remain integrated into the core Kuda experience, allowing customers to log in as usual, open foreign currency balances, convert funds when necessary, and spend or send money without switching platforms. <\/p>\n
\u201cIn 2024 alone, over N100bn came into Kuda accounts from LemFi. That tells us our customers are already living this cross-border reality, and this wallet is simply our first step in recognising and supporting that,\u201d Oyegun said.<\/p>\n
Beyond just currency conversion, Kuda\u2019s aim is to provide users with a seamless financial tool that fits their lifestyle. The wallet will allow users abroad to send money home, convert currencies, and continue spending from the same account when they visit Nigeria, removing the need to juggle between different apps or financial services.\n<\/p>\n
Throughout the session, Oyegun emphasised that the wallet also addresses customer retention. Rather than losing users who relocate abroad, Kuda intends to continue serving them as they transition to life in new countries.\n<\/p>\n
\u201cThese users haven\u2019t churned,\u201d he said. \u201cThey\u2019ve just changed countries. We want to keep serving them.\u201d\n<\/p>\n
The move places Kuda among a growing list of African fintech companies building products for cross-border use cases. However, Oyegun noted that Kuda\u2019s ambition goes beyond currency exchange; it aims to become a financial partner for Africans wherever they are.\n<\/p>\n
Kuda\u2019s first-quarter 2025 performance, shared during the briefing, reflects the bank\u2019s growth trajectory. The company processed N8.4tn in total transaction volume and recorded N453bn in savings deposits, reinforcing customer trust in its digital-first approach.<\/p>\n","protected":false},"excerpt":{"rendered":"Digital bank Kuda has launched a multicurrency wallet as part of its expansion strategy to serve Africans living,…\n","protected":false},"author":2,"featured_media":12676,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[2306,86,56,54,55],"class_list":{"0":"post-12675","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-mobile","9":"tag-technology","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/12675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=12675"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/12675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/12676"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=12675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=12675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=12675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}