Floww Financial today announced its successful debut into the African cryptocurrency sector with the commencement of its Nigeria operations.
According to Nairametrics, Floww Financial is an authorized cryptocurrency exchange company with operations in Australia, the UK, and the EU.
The business currently provides fiat-to-crypto and crypto-to-fiat services on well-known exchanges, such as Binance, where it conducts peer-to-peer business.
The company’s founder and chief investment officer, Daryl Teo, is optimistic about the potential and expanding skill pool in the area.
He has already hired local staff in finance, human resources, trade operations, and customer service.
Most recently, he served as Senior Vice-President and Chief Strategy Officer of the biggest e-commerce business in Southeast Asia, Lazada Group. Prior to that, Daryl worked for Singtel, the national telco of Singapore, as a director and head of digital transformation. Singtel owns investments in AIS in Thailand, Telkomsel in Indonesia, Maxis in Malaysia, Globe in the Philippines, Optus in Australia, and Airtel in India and Africa.
However, Daryl now intends to support Africa’s burgeoning bitcoin ecosystem. He is eager to investigate business potential with partners who are considering integrating blockchain technology into their operations.
Daryl also hinted at his plans to launch new initiatives in Africa, capitalizing on his team’s established track record in Web 3.0 and NFT (non-fungible tokens) development. He has a particular interest in researching the connections between blockchain technology, money, gaming, and sports.
“The recent AFCON showed us how the right stage can propel the beauty of Africa to global audiences,” he said in his closing remarks.
“We want to contribute to showcasing the best of Africa to millions of people worldwide, from the thrilling games to the motivational tales of Côte d’Ivoire striker Sébastien Haller, and the highly sought-after Nigerian the attacker Victor Osimhen. In the process, we hope to add value to local African communities both now and in the future.”
The anticipated value of the African cryptocurrency industry is forecast to reach a staggering US$653.1m by 2028, with an estimated annual growth rate (CAGR 2024-2028) of 9.34% (Statista, 2024).
The company, which operates in Nigeria, Turkey, Switzerland, and Mexico, offers fast fiat-to-crypto onramp services to retail consumers and facilitates B2B corporates with their own crypto-to-crypto order book exchange platform that features spot and futures trading capabilities.
