Crypto startup Cardex has launched a new payroll platform in Nigeria, simplifying how freelancers and Web3 workers receive and spend crypto payments, offering stablecoin conversions to Naira
[dropcap]C[/dropcap]rypto startup Cardex has launched a new payroll platform specifically designed to simplify how Nigerian freelancers and Web3 workers receive and spend cryptocurrency payments.
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The company made this significant announcement in a statement on Wednesday, marking a new phase for the country’s digital workforce.
Cardex stated that its innovative platform is establishing a new infrastructure layer for Nigeria’s rapidly expanding freelance economy and digital workforce.
It allows users to receive payments in stable, secure, and readily spendable crypto. The company highlighted that its system pioneers a crucial shift toward crypto native payroll and instant Naira spending.
This offers freelancers the ability to bypass the inherent volatility of peer to peer (P2P) exchanges and the persistent inefficiencies often found within traditional financial systems.
“Freelancers in Nigeria working with foreign clients often encounter delayed international transfers, high fees, and the risk of scams or price manipulation on unregulated P2P platforms,” Cardex explained, pinpointing key challenges its platform aims to resolve.
According to Cardex, its service enables global clients to pay in stablecoins such as USDT or USDC, while Nigerian freelancers can instantly convert their earnings to Naira.
The company added that these funds can then be seamlessly transferred to traditional bank accounts or accessed using the Cardex Crypto Debit Card, which is widely accepted at point of sale terminals and ATMs nationwide.
Cardex noted that stablecoins are rapidly becoming a mainstream option for global payments, offering vital protection against inflation and currency devaluation—two persistent economic challenges in Nigeria.
Citing data from CoinGecko, Cardex stated that stablecoins achieved a global market capitalisation exceeding $138 billion as of January 2025, with major players like Visa and PayPal integrating stablecoin support for everyday transactions.
Cardex’s platform specifically integrates this growing stablecoin economy directly with Nigeria’s local financial infrastructure.
The company explained that its crypto debit card, which functions seamlessly with Visa, Mastercard, and Verve, bridges the gap between digital currencies and traditional spending.
This enables users to make payments for a wide array of goods and services, including groceries and transportation, and even to withdraw physical cash.
Cardex pointed out that while P2P platforms have historically assisted Nigerians in converting crypto to Naira, they often expose users to unfair rates and scams due to a lack of proper regulation.
Cardex’s solution offers a secure and transparent alternative, providing users with direct access to their funds and enhanced protection from market risks.
Cardex further stated that unlike global payroll platforms such as Deel, Remote, and Papaya Global—which may support crypto payments but often lack localised features—its solution has been specifically built for the Nigerian market.
It confirmed that its onboarding process, compliance measures, and Naira off ramping features are meticulously tailored to fit Nigeria’s local economic and banking landscape.
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The company disclosed impressive growth since its launch four months ago, having expanded to more than 1,500 active users, predominantly consisting of freelancers, remote workers, and Web3 teams.
