Due Network presents Top-tier Global Payment Product , Makes Transactions easy for Nigerians

Due Network is a London-based fintech company that started a year ago and has reached tremendous heights even within a short period. Earlier this month, November 7, 2023, the company had just raised a seed round of $3.3 million led by Semantic and Fabric Ventures. Also, BlockTower VC, Speedinvest, Polymorphic Capital, Discovery Ventures, along with notable angel investors like Itamar Lesuisse, Pavel Karagjaur, Francesco Simoneschi, Mark Ransford, and Emil Urmanshin, have shown their support in this investment round."

Founded by Alex Popov and Robert Sargsian, the goal of the company has always been to improve the current standard of international payments by utilizing blockchain pathways and consistent digital currency availability in different areas.

Moving right into its goal, Due Network is building a product that will effortlessly allow borderless accounts to be created, multiple currencies to be handled, and ensure smooth global money transfers for both businesses and individuals. Already, the company boasts more than 50 markets with unfettered access to global liquidity, showcasing its widespread reach and uninterrupted service provision. 

According to the startup, with more effort, the company aims to ensure that businesses in Nigeria can pay for anything using the local currency (naira) via the NIP channel while patronizing a European vendor, who will now receive the funds in EUR via SEPA without any charges/cost. 

Per Robert Sargsian, the global payment ecosystems already have too many inconsistencies, and receiving or sending money from overseas has been a problem for a lot of people but he is hoping that their product will change the narrative. 

"Receiving funds from overseas, paying international vendors, or even moving intra-company funds across countries are expensive, slow, and hard to access. We are here to challenge and change that.'' He stated. 

Due Network explained that it runs on open and flexible digital systems. This lets people in Nigeria use their money (naira) to store and use digital US dollars and euros. They can then easily send or get money across places like Sub-Saharan Africa, the UK, EEA, and the USA. 

Also, to ensure its users' safety while using the product, the fintech company stated that all Due accounts are entirely noncustodial, which means that clients have total control and ownership of their money on the platform. Nobody else, not even Due, can access the clients' funds in any manner. This gives account holders direct and unhindered access without any limits or reliance on others. 

With all these being said by the founder of the startup, Due sounds like another big thing in the Fintech space that people should look out for.