Nomba has introduced a new Global Payout API designed to streamline how Nigerian payment companies send money across borders. The platform allows businesses to collect funds in naira or stablecoins and make payouts to destinations including the United Kingdom, Europe, Canada, the Democratic Republic of Congo and Nigeria, with instant foreign exchange conversion and rate locking at the point of transaction.
The company said the new system addresses a long-standing challenge in cross-border payments, where operators typically manage liquidity in both local and foreign currencies. This dual structure often ties down capital and delays transactions. According to Nomba’s Chief Executive Officer, Yinka Adewale, the API merges collection, conversion and disbursement into a single transaction flow, allowing payments to move faster without the need to separately source foreign currency.
Under the system, funds received either in naira or stablecoins such as USDT and USDC are converted instantly, triggering immediate payout. Transfers to the UK are processed through Faster Payments within one to three hours, while European transactions via SEPA are completed in under an hour. In Canada, payouts can be made through Interac or bank transfers, while users in the Democratic Republic of Congo can receive funds instantly through mobile money or bank channels.
A key feature of the platform is a five minute exchange rate lock, which ensures that the rate quoted at the start of a transaction remains unchanged at settlement. The company said this helps reduce disputes and protects users from unexpected losses due to currency fluctuations, a common issue in cross-border transactions.
The launch comes as cross-border payments across Africa remain costly, with average fees among the highest globally, while the use of stablecoins continues to rise in the region. Nomba, which began operations in 2016 as Kudi, said the new API is part of its broader strategy to evolve from agency banking into full scale payment infrastructure, enabling businesses to operate more efficiently without holding multiple currency reserves.