CENOA Unleashed: Unprecedented Demand Greets the Dollar Account for Emerging Markets upon Its Launch in Nigeria
Making a resounding entrance into the Nigerian market, Cenoa, a Tunisian company, has declared its robust presence by garnering over 50,000 sign-ups within a month, all while boasting an impressive app store rating of 4.7/5.0. Driven by substantial demand and fortified by its year-long presence in over 40 countries, Cenoa has reaffirmed its dedication to the Nigerian market, aligning with its overarching global mission of expanding accessibility to digital dollars for everyday users.
Amidst a global landscape characterized by rampant inflation, devaluation, and local currency instability reaching a 40-year high, individuals within emerging economies find themselves grappling to preserve the value of their money. In response, many are turning to more stable currencies, such as the US Dollar, to safeguard their savings. However, the process of buying, selling, transferring, and utilizing dollars for day-to-day expenditures remains fraught with challenges, predominantly due to the shortcomings of existing financial systems. This rings true even for major global entities like Spotify and Netflix, who opt for USD over local currencies.
Cenoa is a simple and accessible way to access digital dollars without fees, ensuring seamless local and international transactions. The company guarantees a single authentic exchange rate without markups, spreads, or commissions, ensuring a consistent rate for purchasing and selling dollars. Cenoa's mobile application, available on Android and iOS platforms, is designed for emerging markets and has integrated with Fonbank and Paychant. The non-custodial blockchain wallet provides clients with security and control over their financial assets. Cenoa's software is endorsed by Certik, a regulated fintech entity, and its foundational framework is crafted by top-tier global defense engineering experts.
Cenoa, a global dollar account, raised $7 million in seed funding in January 2022. Headquartered in Singapore, it aims to improve access to digital dollar-based savings products for emerging markets. Cenoa prioritizes enterprise-grade security, user experiences, and cost-free transactions using blockchain technology. The founding team, consisting of Co-CEOs Emre Ertan and Seçkin Çağlın, along with technical Co-Founders Sırrı Perek and Buğra Çakmak, originated the concept during their tenure at Stanford Business School. The company's international team operates from various global locations, further emphasizing its commitment to a widespread impact.
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