Nigerian Bloccpay automates payroll and invoicing using stablecoins
Nigerian fintech Bloccpay has launched a global platform leveraging stablecoins for business payroll and professional invoicing.
Nigerian startup Bloccpay offers a global, stablecoin-powered payroll and invoicing platform aimed at helping businesses automate payments for distributed teams and making it easier for professionals in emerging markets to get paid. The platform allows companies to set up payroll by adding talent and defining pay frequency, with Bloccpay handling the generation, debit, and credit processes.
Founded in 2022 by CEO Ajoke Asunmonu and CTO Jennifer Echenim, Bloccpay addresses challenges faced by freelancers and contractors. These professionals can issue global invoices and receive payments via fiat or crypto channels, with funds deposited into bank accounts, crypto wallets, or mobile money services. Senders do not require a Bloccpay account; they can complete payments through a provided link.
Beyond facilitating payments, Bloccpay focuses on building a documented financial history. "Transactions generate a history of work done and income received. Over time, that becomes the kind of record that's requested when someone opens a bank account in another country, applies for a loan, or supports a visa application," stated CTO Jennifer Echenim. This documentation layer is considered as crucial as the payment itself.
The company's long-term vision extends beyond payroll and invoicing. Bloccpay aims to become a comprehensive income management platform, with plans to integrate benefits like health insurance and investment products traditionally exclusive to full-time employees. The startup's inception stemmed from Echenim's personal difficulties in accessing and converting international earnings, highlighting the need for a streamlined solution and reliable financial records for cross-border workers.