Faveremit adds crypto trading feature to digital finance platform

Faveremit, a digital financial services platform, has introduced a new in-app cryptocurrency feature that allows users to buy, sell, send, receive and swap supported digital assets directly from the platform.

The company said the new feature is designed to simplify cryptocurrency transactions by bringing crypto services together with other digital financial services available on its platform.

According to Faveremit, users can now manage their cryptocurrency transactions alongside services such as gift card trading, virtual dollar cards, airtime and data purchases, utility payments and other digital transactions.

The company said the development was driven by the growing use of digital assets among Nigerians, including freelancers, remote workers, online entrepreneurs and other users who receive or make payments digitally.

Faveremit said the new feature allows users to carry out basic cryptocurrency transactions without having to switch between multiple platforms for different digital financial needs.

“With the new crypto feature, users can buy, sell, send, receive and swap supported cryptocurrencies directly within the Faveremit app,” the company said.

The platform said the feature is intended to provide both experienced cryptocurrency users and people who are new to digital assets with a simpler way to manage supported cryptocurrencies.

Faveremit said the addition of cryptocurrency services forms part of its broader strategy to provide multiple digital financial services through a single platform.

The company noted that Nigerians increasingly use digital financial products for activities ranging from receiving payments in stablecoins to paying for international services and purchasing digital products.

According to Faveremit, the integration of crypto into its platform gives users the option of managing digital assets alongside other services without maintaining separate applications for each transaction.

The company also highlighted security as an important component of its cryptocurrency offering.

Faveremit said its platform includes security features such as PIN protection, biometric login and two-factor authentication, while users can also monitor their transaction history and account activity.

The company advised users to take responsibility for securing their accounts and to exercise caution when conducting cryptocurrency transactions, particularly when handling wallet addresses and account credentials.

Faveremit said the crypto feature does not replace its existing digital financial services but adds another option for users seeking to manage different aspects of their digital transactions through one platform.

The company said its existing services include gift card trading, virtual dollar cards, airtime and data purchases and utility payments.

Faveremit said the new cryptocurrency feature is available to users of its Android and iOS applications as part of its continued expansion of digital financial services.

The company said it expects the integration to make cryptocurrency transactions more accessible to users who already rely on digital platforms for everyday financial activities.