A new crypto wallet, VeryWallet, has officially launched in Nigeria, promising a transformative solution to two persistent financial challenges: high international remittance costs and the volatility of the Naira. Developed by Web3 platform VeryChat, VeryWallet is now operational globally and is rapidly gaining traction among Nigerians, with over 100 merchants already accepting payments through the platform.
Zero-Fee International Transfers with USDT
For years, Nigerians have paid some of the highest remittance fees in the world—typically 7–15% per transaction through traditional services like Western Union or MoneyGram. A $100 transfer could cost as much as $15 in fees. VeryWallet eliminates these costs by enabling free USDT (Tether) transfers on the Binance Smart Chain (BSC), without requiring users to hold BNB or pay gas fees. Support for the TRON network, popular in Nigeria, is coming soon.
Dollar-Pegged Stability in a Volatile Economy
With ongoing inflation and Naira devaluation, many Nigerians have sought safe, dollar-denominated alternatives, often running into withdrawal limits and unfavorable exchange rates. VeryWallet supports USDT stablecoins pegged 1:1 to the US dollar, providing users a stable store of value without requiring a bank account. This approach empowers even unbanked Nigerians to safeguard their assets using only a smartphone.
Simple, Secure, and Non-Custodial
Unlike traditional crypto wallets that require users to manage complex seed phrases, VeryWallet simplifies the process. Signing up is as easy as joining a messaging app, while users retain full control over their assets in a non-custodial environment. Inspired by fintech models like Toss in Korea, VeryWallet combines usability, accessibility, and zero-fee transfers to create a truly inclusive financial tool for underserved populations.
Empowering Nigeria’s Crypto-Savvy Youth
Nigeria leads Africa in cryptocurrency adoption, particularly among young people leveraging digital assets for freelancing, e-commerce, and international payments. VeryWallet enables them to receive payments in USDT instantly, store funds securely, spend at local merchants, and send funds to family members—without fees or currency risk. With over 100 Nigerian businesses already onboard, users can integrate crypto into everyday transactions seamlessly.
Local Momentum and Global Expansion
“Nigeria is one of our most strategic markets,” a VeryChat spokesperson said. “Our mission is to solve real challenges—excessive remittance fees, currency volatility, and limited financial access.”
VeryWallet is also active in Ghana, Indonesia, Nepal, India, and Korea, building a practical Web3 ecosystem that goes “beyond speculation and technology—bringing crypto into everyday life.” Nigerians can now start using VeryWallet to send, store, and spend USDT immediately, marking a significant step toward financial inclusion and cross-border innovation.
