Nigerian fintech software provider Appzone has rebranded to “Zone”, a regulated blockchain payment infrastructure company.
Zone, a Google for Startups Accelerator alumnus, is on a mission to connect every monetary store of value using blockchain. By building Africa’s first layer-1 blockchain network, Zone will enable payments and the acceptance of digital currencies for financial service providers globally.
As part of its evolution, the company previously known as Appzone is pivoting from its cloud-based SaaS infrastructure to offer payments processing services that support both fiat money and digital currencies, with the intention to enable a hybrid interim period in finance where TradFi and DeFi will coexist seamlessly.
The startup’s regulated blockchain network enables direct transaction flow between financial service providers without an intermediary, bringing reduced transaction costs, instant dispute resolution, and absolute reliability across Africa’s payment borders and beyond.
Following the rebrand, Appzone’s Banking-as-a-Service business has been carved into a separate standalone company, known as Qore, so it can continue serving existing clients and growing the SaaS platform’s reach.
“We have led Africa’s fintech sector in global firsts for over a decade. As Appzone, we launched the first core banking and omnichannel software on the cloud as well as the first multi-bank direct debit service based on single global mandates. With this transition to Zone, we are utilising the power of blockchain technology to connect every monetary store of value and enable reliable, frictionless and universally interoperable payments. In doing this, we are building one global network to pay anyone through any means, in any currency, which will ultimately maximise financial inclusion and accelerate economic prosperity for Africa and the rest of the world,” said Zone co-founder and CEO Obi Emetarom.