Mission
Monica exists to make crypto-to-naira conversion as simple and reliable as a bank transfer. The Nigerian crypto user shouldn't have to choose between fast settlement and zero fees — Monica delivers both.
Origin
Monica launched in 2022 in response to a clear gap: P2P platforms were the dominant cashout route, but vendor risk, settlement delays, and bank-account-freeze exposure were chronic problems. Direct, regulated conversion was the obvious answer.
Scale today
500,000+ verified users. ₦400+ billion lifetime volume. 4.7-star average across 7,400+ Play Store reviews and 4.6 on App Store. Coverage of every Nigerian commercial and digital bank via NIBSS instant transfer.
How we make money
Volume-based partnerships with liquidity providers. Card interchange. Strategic stablecoin partnerships. The reason we can charge 0% on conversion: our economics aren't built on per-transaction fees.
Compliance posture
Operating entity registered with the Corporate Affairs Commission. NDPA-aligned data protection. Operating within the SEC's VASP (Virtual Asset Service Provider) framework guidelines.
Where we go next
Continued expansion of supported assets. Higher institutional limits. Card and savings products that complement the conversion engine.
FAQ
Who runs Monica?
Kudiwave Technologies Limited, a Nigerian-registered fintech company based in Lagos.
When did Monica launch?
2022.
How many users?
500,000+ verified.
How much volume?
₦400+ billion lifetime.
Is Monica regulated?
Operating within the SEC's VASP framework with NDPA-aligned data protection.