Black Bitcoin Billionaires partners with Mavapay.money for direct payments to Nigeria, via bbb.money
Kentucky, US. May 3, 2024. Black Bitcoin Billionaires has partnered with Mavapay Money, a Nigerian-based Bitcoin fintech platform, to facilitate smooth, ultra-fast payouts too Nigeria.
This innovative collaboration will enable anyone around the globe to send Bitcoin to a recipient's lightning address (think of it as a special email address), that converts their Bitcoin to Naira and deposits it into the recipient’s bank account, in seconds.
This is made possible through Bitcoin and the lightning network. The Lightning Network is a layer 2 infrastructure built on the Bitcoin blockchain that enables near-instantaneous transactions. Now international students, working class, migrant communities can send money to their loved ones back in Nigeria at the speed of light.
Mavapay money powered by Mavapay API has built its infrastructure so that the end user does not interact with Bitcoin. They simply create an account, complete their identity verification, add their bank account, and receive Bitcoin as Naira in seconds.
“The goal is to accelerate the adoption of Bitcoin in Africa as an efficient medium of exchange and currency while leveraging the speed and ubiquity of the lightning network.”, — Theophilus Isah, Mavapay cofounder.
A sender in America only needs the recipient’s lightning address (yourname@mavapay.money) to send funds. They simply have to visit https://bbb.money — input the recipient's lightning address — scan an invoice — and make payment through a lightning supported wallet like Cash App. The recipient receives the equivalent amount in their local currency Naira in their bank account within seconds.
The global adoption of Lightning on the Bitcoin rail is rapidly evolving. Coinbase, a publicly traded cryptocurrency exchange and brokerage, recently announced its Lightning integration.Other platforms such as Kraken, Strike, and Blink have adopted Lightning, enabling users to transfer Bitcoin within seconds with transaction fees below 1%.
“Bitcoin with Lightning is a powerful tool that provides a cheaper alternative to traditional remittance services. Using Mavapay Money, Nigerians now have an option that is cheaper and up to 10 times faster. In early trials, some participants even said using the system was like magic.” says Lamar Wilson, founder of Black Bitcoin Billionaire.
Moving money across continents is still a hassle with different layers of friction or high transaction fees, this alliance between BBB and Mavapay money will enhance financial access and connectivity all powered by Bitcoin and Lightning.
“BBB.money doesn’t provide a wallet, run a lighting node, or hold any funds, yet empowers people around the globe to connect with the people of Nigeria and the Nigerian economy, powered through our amazing partnership with Mavapay.”, Wilson concludes.