Cardex, a cryptocurrency startup, has introduced a payroll platform that makes it easier for Web3 workers and freelancers in Nigeria to receive and spend cryptocurrency payments. The business announced this in a statement on Wednesday.
According to Cardex, the platform is enabling a new layer of infrastructure for Nigeria’s expanding digital workforce and freelance economy, enabling users to receive stable, secure, and spendable cryptocurrency payments.
According to the company, its system is a trailblazer in the transition to instantaneous naira spending and crypto-native payroll, allowing freelancers to avoid the inefficiencies of traditional financial systems and the volatility of peer-to-peer exchanges.
“Freelancers in Nigeria working with foreign clients often encounter delayed international transfers, high fees, and the risk of scams or price manipulation on unregulated P2P platforms,” it stated.
Crypto payment platform enables conversion of earnings into naira
Cardex claims that its service enables Nigerian freelancers to instantly convert their earnings into naira, while clients from around the world can pay in stablecoins like USDT or USDC.
The business also mentioned that the Cardex Crypto Debit Card, which is accepted at ATMs and point-of-sale terminals across the country, can be used to access money or transfer it to bank accounts.
According to the business, stablecoins are quickly gaining traction as a worldwide payment method because they provide defence against inflation and currency devaluation, two issues that Nigeria has long faced.
According to Cardex, which cited data from CoinGecko, stablecoins had a global market capitalisation of over $138 billion as of January 2025, and major players like PayPal and Visa had integrated stablecoin support for regular transactions.
Crypto payment platform combines Nigeria’s financial infrastructure stablecoin economy
According to Cardex, its platform combines the local financial infrastructure of Nigeria with this expanding stablecoin economy.
To bridge the gap between digital currencies and traditional ones, it explained that its crypto debit card, which works once with Visa, Mastercard, and Verve, allows users to withdraw cash and pay for a variety of groceries and transportation.
The business noted that although P2P platforms have traditionally assisted Nigerians in converting cryptocurrency to naira, their lack of regulation exposes users to unfair rates and scams.
It claimed that with direct access to funds and protection from market risks, its solution provides a transparent and safe substitute.
Crypto payment solution designed specifically for Nigerians
Cardex claimed that its solution was designed especially for Nigeria, in contrast to international payroll platforms like Deel, Remote, and Papaya Global, which may accept cryptocurrency payments but lack localised features.
It claimed that its Naira off-ramping features, compliance procedures, and onboarding are customised to the regional banking and economic environment.
The business revealed that since its launch four months ago, it has amassed over 1,500 active users, the majority of whom are Web3 teams, remote workers, and freelancers.
Cardex stated that it wants to make sure Nigeria doesn’t fall behind in the future of international payments since the country continues to produce highly sought-after remote tech talent in Africa.