US-based fintech startup Hurupay has made a significant advancement by launching the first stablecoin-based virtual US dollar accounts tailored for freelancers and remote workers across Africa. Founded in 2023, Hurupay operates as a crypto wallet that allows users to access stablecoins—cryptocurrencies designed to maintain a stable value by being pegged to the US dollar at a 1:1 ratio.
This innovative platform aims to assist small and medium-sized enterprises (SMEs) and individuals in countering the adverse effects of local currency depreciation against the dollar, thereby providing a more stable and dependable payment solution that supports income stability and business growth.
Targeting freelancers, remote workers, and businesses, Hurupay’s new virtual US dollar accounts facilitate seamless receipt of US dollar payments without any hidden fees. Users also have the flexibility to withdraw funds to cryptocurrency exchanges, enhancing their financial options. The platform boasts a global reach, making it accessible to a wide audience.
“We are already available in over 40 countries, including Nigeria, Ghana, South Africa, Tanzania, the Philippines, and the United States (US),” stated CEO Philip Mburu, highlighting the company’s commitment to expanding its services and supporting users worldwide.
