Banking and Finance

Kuda Bank Launches Multi-Currency Wallet for Diaspora Customers

The main goal of the multi-currency wallet, according to CEO Babs Ogundeyi, is to keep customers who are moving abroad.

Kuda Bank Launches Multi-Currency Wallet for Diaspora Customers

Kuda Bank—a neobank in Nigeria popularly known as "bank of the free"—has announced the launched of multi-currency wallet within its banking App, allowing users living abroad to send pounds (GBP) and euros (EUR) to Nigeria. The development is part of the bank's plan of boosting its global growth and recognition. According to the Chief Executive Officer Babs Ogundeyi, the multi-cuureny wallet was launched for the purpose of retaining its customers who are relocating abroad. Kuda Bank has over 7 million users, and the bank has been seeing rapid migration of its users to live or work abroad. This is the main reason the bank is entering the crowded remittance space. Babs Ogundeyi said serving our customers living abroad is “inevitable” amid a rise in freelancers and digital nomads. Currently, the Kuda's Multi-cuureny wallet is featuring the Great British Pound (GBP) and European Union (EUR). Meanwhile, the bank has plans to add the United States Dollar (USD) and Canadian Dol…

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