BitMigo Technologies, a Nigerian fintech business, has introduced VIXA, an AI-powered money platform that allows Africans to use, transfer, and exchange cryptocurrencies across borders over WhatsApp. Instead of using traditional cryptocurrency exchanges, VIXA enables users to communicate with their cryptocurrency wallets over WhatsApp conversations. Users can purchase, sell, exchange, send, receive, and withdraw supported digital assets using the platform. Transactions are started through discussions and verified before execution.
Nigeria, Kenya, Uganda, Ghana, Rwanda, Tanzania, and Malawi are among the 19 African markets where the platform links consumers to supported financial infrastructure. According to the company, the service is intended for Africans who travel, work, trade, or keep financial ties with people in other nations.
For example, depending on the services and payment methods offered in each country, a Nigerian traveling or conducting business in Kenya, Uganda, or Rwanda can continue to manage supported digital assets using the VIXA interface.
Stablecoins, local payout infrastructure, and conversational AI form the foundation of VIXA. When conducting transactions, the platform is intended to minimize the need for consumers to navigate numerous exchanges, blockchain networks, wallet addresses, and financial interfaces.
Depending on the transaction type, asset, network, payment method, and other relevant conditions, the company claims that qualified transactions can be finished in as little as 60 seconds with no transfer fees. In addition to bitcoin transactions, the platform is creating tokenized equity access, which would enable users to participate in specific US, European, and Asian enterprises.
The company stated that, subject to relevant market and regulatory conditions, its intended investment universe may consist of more than 200 companies. Additionally, VIXA intends to launch physical and virtual cards that will allow customers to make purchases from supported VIXA balances at online retailers and participating African markets. Simplifying international financial transactions is a key component of the company's goal, according to co-founder Saviors Daniel.
“Africa is one of the most financially fragmented regions in the world. People move between countries, run businesses across borders, receive international income and maintain families in different markets. We believe the financial experience should be much simpler than it is today.”
Another co-founder, Oladipo Victor, said VIXA was designed to make financial services easier to use by allowing people to interact with the platform conversationally.
“You shouldn’t need to understand an exchange, a blockchain network or an off-ramp before you can move your own money. With VIXA, you can simply tell us what you want to do, review the transaction and confirm it.”
VIXA was created by BitMigo Technologies with the long-term goal of using AI-powered financial services to streamline the movement, management, and use of digital value throughout Africa.
