New Bitcoin Marketplace, Tanjalo Launches in Nigeria

Crptocurrency is gradually taking its place in Nigeria. With a lot of people now accepting it as a mode of payment, the market has begun to look attractive, and startups are springing up to tap into it.

We’ve seen BitPesa, Nairex, and Bitkoin.Afrika. Now, say hello to the newest Blockchain startup in Nigeria, Tanjalo.

Launched on October 12 in a bid to address borderless payments and access to cryptocurrencies in West Africa, Tanjalo is an online marketplace where Nigerians can buy and sell bitcoin.

In a chat with Cryptovest, CTO and Co-founder of Tanagalo, Tim Akinbo, who runs the only bitcoin node in West Africa, he revealed – “Our mission is to offer people with the opportunity to participate in the financial ecosystem with or without a bank account or mobile money wallet especially in a region that has the highest rate of financial exclusion in the world.”

While Tanjalo is looking to allow Nigerians exchange their local Naira for bitcon, they also intend to add more digital currency alternatives over time.

According to CoinDance, Nigeria’s weekly bitcoin trading volumes currently stands at 1,900,000,000 Naira, and this doesn’t include offline trading activity, which is even more than what goes on online. Tanjalo’s aim is to capture a piece of this market.