Bitnob Integrates Universal Money Address (UMA) to Further Revolutionize Cross-Border Payments in Africa
Bitnob, Africa's leading fintech company, has today announced its historic integration with the Universal Money Address (UMA) standard. Making Bitnob the first company in Africa to adopt this revolutionary payment protocol.
UMA, portrayed as an “email address for money,” is an open-source, global system that enables 24/7 transactions in any fiat or cryptocurrency using one’s preferred wallet, exchange, or bank. Built on the Bitcoin Lightning network, UMA ensures swift, cost-effective, and efficient payments. It mirrors the simplicity of SMTP, the protocol behind seamless email exchanges, allowing users to transact without any prior knowledge of Bitcoin.
Commenting on the development, Bernard Parah, Bitnob's CEO, said, “Our integration with UMA is a testament to Bitnob’s commitment to revolutionizing cross-border payments in Africa. We’ve always been at the forefront, from being the first in Africa to integrate the Lightning Network to offering Lightning addresses to our users. Now, with UMA, we’re bridging the gap between Africa and the rest of the world, offering our users unparalleled access to global markets.”
Cross-border transactions have historically been plagued with high costs, delays, and complexities. UMA addresses these challenges head-on, offering universal integration, real-time global settlement, low-cost, currency-agnostic, and personalized addresses.
Bitnob’s integration with UMA further cements its position as a trailblazer in the fintech space. Currently offering payouts in a number of African countries, including Nigeria, Kenya, Ghana, and more, Bitnob’s inclusion in the UMA network will expand its reach to Asia, LATAM, and Europe, solidifying its reputation as one of Africa’s most robust cross-border platforms.
Bitnob’s commitment to innovation and its user-centric approach have been instrumental in its rapid growth and success. With UMA, Bitnob is not only addressing the challenges of cross-border payments but also empowering African youths by providing them with access to global opportunities.
As Bitnob continues to lead the charge in redefining financial transactions in Africa, users are invited to be part of this exciting journey. To get your UMA address, download and register an account with Bitnob on the app store or play store, and sign up for our waitlist using your preferred name. Don’t miss out on securing your desired UMA name. Join the waitlist now and be part of the future of payments!