In a move set to redefine how Nigerian freelancers and Web3 professionals are paid, crypto startup Cardex has launched a payroll platform designed to simplify crypto payments and naira conversion for the country’s digital workforce.
Announcing the development in a statement on Wednesday, the company said the new platform provides a secure, stable, and spendable crypto payment infrastructure, enabling users to sidestep the volatility and inefficiencies of peer-to-peer exchanges and traditional financial systems.
“Freelancers in Nigeria working with foreign clients often encounter delayed international transfers, high fees, and exposure to scams or price manipulation on unregulated P2P platforms,” Cardex noted.
The service allows international clients to pay Nigerian freelancers using stablecoins such as USDT and USDC, which can be instantly converted into naira. Users can transfer their earnings directly to local bank accounts or access funds through the Cardex Crypto Debit Card, which functions at point-of-sale terminals and ATMs across the country.
Cardex described stablecoins as a mainstream solution for global payments, offering a buffer against inflation and currency devaluation—challenges that persistently affect Nigeria’s economy. The company cited CoinGecko data, which put the global stablecoin market cap at over $138 billion as of January 2025. It also referenced major payment players like Visa and PayPal, who have begun integrating stablecoin support into their services.
Unlike traditional payroll platforms such as Deel, Remote, or Papaya Global that may support crypto but lack localisation, Cardex said its system is custom-built for Nigeria. It incorporates features like naira off-ramping, local compliance, and streamlined onboarding, tailored to the unique challenges of the Nigerian market.
The startup also stressed the importance of bridging digital currency usage with everyday spending. Its debit card, compatible with Visa, Mastercard, and Verve, enables payments for essentials like groceries, transportation, and cash withdrawals—further bridging the gap between crypto earnings and real-world utility.
Cardex highlighted the security risks and unfair exchange rates associated with P2P platforms, positioning its solution as a transparent and regulated alternative that protects freelancers from market manipulation and financial loss.
Since its launch four months ago, Cardex said it has attracted over 1,500 active users, primarily consisting of freelancers, remote workers, and Web3 teams. The startup hopes to scale its services as Nigeria’s reputation as a tech talent hub continues to grow.
“As Nigeria produces some of the most in-demand remote tech talent in Africa, our goal is to ensure the country remains at the forefront of global payment innovation,” the company said.