First Bank, others join Zone decentralised payment network

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First Bank, United Bank for Africa (UBA), and Zenith Bank have joined Zone’s decentralized payment network.

This development follows Zone’s recent acquisition of $8.5 million in seed funding led by Flourish Ventures and TLcom Capital.

Zone’s Vice President of Marketing and Corporate Communications, Olayiwola Osoba, announced this integration, emphasizing Zone’s commitment to advancing Nigeria’s transition to a cashless society.

Zone, a regulated blockchain network, facilitates payments and the acceptance of digital currencies.

The addition of these major banks to its network aims to enhance end-to-end transparency, prevent chargeback fraud, and ensure same-day settlements.

This step aligns with Zone’s launch of its decentralized Point-of-Sale Payment Gateway, ZonePOS.

Zone’s CEO and co-founder, Obi Emetarom, expressed enthusiasm about the collaboration, highlighting the growing trust in Zone’s technology.

He believes that integrating UBA, First Bank, and Zenith Bank will significantly advance Nigeria’s payment landscape and foster a more inclusive financial ecosystem.


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