Nigerian startup Bloccpay is building a payroll and invoicing platform for Africans who work remotely for foreign companies. It uses stablecoins behind the scenes to move money faster and more cheaply, Disrupt Africa reported.
How it works
- For employers: a company adds its workers and sets a pay schedule. Each pay day it only has to review and approve; Bloccpay debits the company and pays each worker.
- For freelancers: they can send invoices worldwide. Clients pay through a link without needing an account, and the money can go to a bank account, a crypto wallet or mobile money, depending on the country.
- Proof of income: every payment builds a record of work and earnings that freelancers can use when opening a foreign bank account, applying for a loan or a visa.
A personal problem
Co-founder and CTO Jennifer Echenim said she once had to send her dollar earnings to a friend’s account, convert them to stablecoins, and then sell those for naira, because the platform paying her offered an exchange rate about 40% worse. She co-founded Bloccpay with CEO Ajoke Asunmonu. The company was registered in 2022 and began operating with a private beta in 2024.
Numbers so far
Still in private beta, Bloccpay has processed more than $400,000 in transactions for close to 300 users. It says volume in the second quarter of 2026 was seven times that of the first quarter. Users are mainly in Nigeria, Kenya, Ghana and South Africa, with payouts also live in Uganda and Tanzania, while the paying businesses are mostly in the US and UK.
It charges $15 per contractor per month, plus 1% on invoices and 1% on withdrawals; deposits are free. The startup is largely bootstrapped, but has received a $100,000 grant from the Stellar Community Fund and joined the Techstars Founder Catalyst programme and the Circle Alliance Program.
Why it matters
Thousands of Nigerians now earn in dollars from remote jobs, but still lose money to poor exchange rates and several middlemen. Bloccpay plans to add health insurance, savings products and other benefits that freelancers usually miss out on. As with any crypto-linked service, users should check how their funds are held and what regulation applies in their country.
Source: Disrupt Africa.
