Flutterwave Launches CBN-Backed Swap for Speedy FX Access in Nigeria

Flutterwave, a leading payments technology company in Africa, has unveiled Swap, a digital platform backed by the Central Bank of Nigeria (CBN) to provide Nigerians with immediate access to foreign currency at competitive exchange rates.
This initiative, launched in partnership with Wema Bank and Kadavra BDC, aims to address the limited access to foreign currencies faced by individuals and businesses in Nigeria, facilitating international transactions and investments.
Flutterwave also plans to introduce a card issuance system for Swap users, distributing over 10 million cards from October 2023 to expedite access to Personal Travel Allowance (PTA) and Business Travel Allowance (BTA).
Swap will be available to existing Flutterwave for Business and Send App users, as well as through API integration with banks and for new sign-ups on the platform.

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