The confusion: someone sees CBN publishing USD/NGN at, say, ₦1,580 and Monica showing USDT/NGN at ₦1,620. They think USDT is marked up. It isn't that's the actual market rate Nigerians can buy and sell USD at. The CBN rate is for institutional purposes; it's not the rate retail users get when they need actual dollars. USDT reflects reality.
USDT itself isn't 'more expensive' what differs is the USD/NGN rate Nigerians transact at, which is the parallel-market rate, not the CBN official rate. USDT/NGN reflects parallel-market USD/NGN.
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0% on Monica for all conversions and bank withdrawals. Only onchain network fees apply, paid to validators (not Monica).
Sub-60 seconds typical for the Monica side (conversion + bank withdrawal). Onchain confirmation timing varies by coin and network.
0% fees. Under 60s payouts. 500K+ users. Built for Nigerian crypto reality.
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