Instance Introduces Groundbreaking Multicurrency Fintech Product to Bridge Trade Between Africa.
Over the past couple of years, Nigerians and other African countries have gone from barely surviving the impact of Covid-19 to the falling price of the dollar affecting our daily lives. On top of that, the cashless policy introduced by the Central Bank of Nigeria to drive a financially inclusive economy has made it imperative for fintechs to introduce a simple, fast, transparent and sustainable payment solution to reduce the burden of over-reliance on payment infrastructure to drive financial services across all facets of the economy.
In June 2022, Instance (registered as Fuspay Inc., Delaware, USA) raised an undisclosed upfront amount from Pacer Venture, a Canadian VC firm led by Domineum Blockchain Technology, UK. The aim is to deliver a product that will enable Africans to conduct intra-African trade through a single app.
CEO of Instance, Charles Avis noted that the challenges faced by Africans recently in adopting alternative payments and instant access to payment services shows the intensity of how many people are looking for alternative and stable financial products that will allow them to transact seamlessly. Beyond that, they are looking for a way to hedge against the current and ongoing inflation.
Instance is an all-in-one fintech platform dedicated to facilitating global financial inclusion by connecting all wallet providers together to create a more inclusive global payments ecosystem. According to an internal memo of Instance issued by Abiola Jimoh, Head of Business Growth, he said the company is very excited to announce the launch of its product called “Instance App”.
Some of the main features of Instance include:
Faster transaction speed:
With Instance, users can enjoy faster transaction speeds compared to traditional banking systems, ensuring that transactions are completed quickly and efficiently.
Cheaper transaction fees:
Users can save money on transaction fees when using Instance, making it a cost-effective alternative to traditional banking.
Access to 15+ currencies:
Instance allows users to access over 15 currencies, making it easy to manage money across borders and avoid high exchange rates.
Create digital currency wallets with ease:
With Instance, users can easily create digital currency wallets and securely manage their digital assets,
Payment across national borders:
Perform borderless transactions across borders: With Instance, users can easily send and receive money across borders without worrying about high transaction fees or exchange rates.
Pay with NFC card anywhere in the world:
With Instance, users can easily pay for goods and services anywhere in the world using NFC-enabled cards, ensuring a seamless and secure payment experience.
Secure payment processing:
With Instance, users can easily accept payments and process transactions securely, thanks to the platform’s robust security features.
Seamless integration:
Instance integrates seamlessly with a wide range of financial tools and services, making it easy to manage all aspects of your financial life from one place.
“We are thrilled to introduce Instance to the market,” said the CEO.
“Our team has worked tirelessly to create a product that provides exceptional value to our users. With Instance, we make it easy for users to perform unlimited transactions across borders seamlessly.”
The instance is available for download on the iOS App Store and Google Playstore.
For more information about the product, visit
