NairaEx, a Nigeria-based Bitcoin exchange has announced the launch of its bitcoin remittance service that will allow Nigerians to send and receive money with zero fees and great exchange rates.
According to a source at NairaEx, sending or receiving money with NairaEx is straightforward. The sender deposits local currency into the NairaEx platform, provides NairaEx with beneficiary’s bank details and NairaEx will pay into the beneficiary's local bank account.
NairaEx claims to currently enable payment to China, India, Mexico and Europe with a service delivery time of between 2 to 24 hours for the beneficiary to receive the money in their bank accounts without any hidden fees or charges.
The company claims to cover payments for clients in areas such as payment to suppliers, school fees, living expenses, salary etc.
NairaEx Trading Ltd also claims to be registered with the Canadian money services business under FINTRAC.