As Africa continues to grapple with fragmented financial systems despite the ambitions of the African Continental Free Trade Area, crypto to cash platform Divest has launched a new product, Money Xchange, aimed at simplifying how money moves across the continent. The platform is designed to bridge gaps between traditional banking systems and digital finance by providing a single entry point for cross-border transactions.
Originally built as a crypto to cash exchange, Divest said the new product marks an expansion of its services to cater to a broader range of users. While it continues to support cryptocurrency conversions across markets such as Nigeria, Ghana, Kenya and South Africa, the Money Xchange feature enables users to send fiat currency directly between these countries, handling foreign exchange processes in the background.
The company explained that the platform is designed to reduce the delays and uncertainties often associated with traditional cross-border payments. Users are able to view real time exchange rates before completing transactions, ensuring transparency and eliminating hidden charges that typically arise in conventional banking systems.
According to the firm, the service is targeted at a wide range of users, including families supporting relatives abroad, travellers, and small business owners engaged in cross-border trade. By enabling near instant transfers and predictable settlement, Divest said the platform can help improve trust between traders and reduce the risks associated with delayed payments.
The company added that it is already working to expand its payment corridors beyond Africa, with plans to support transfers involving markets such as the United Kingdom, the United States, Canada and Europe. With this move, Divest said it aims to position itself as a broader financial infrastructure platform capable of connecting African users to global payment systems