Canza Raises $3.27M to Offer Crypto Financial Services in Nigeria
- The crypto 'neobank' was founded by Pascal Ntsama and Oyedeji Oluwole.
- Canza offers cross-border settlement and treasury management services.

Canza, founded by former AT&T employees Pascal Ntsama and Oyedeji Oluwole, aims to become a crypto neobank that connects African businesses to the global economy. Currently, the company offers cross-border settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 business days or T+2 after the trade is executed, and for listed options and government securities it is usually 1 day after the execution. Conversely in Europe, settlement date has also been adopted as 2 business days settlement cycles T+2.Settlement ExplainedA settlement is also the process of the payment of an outstanding account balance, an open invoice or charge. The electronic settlement system is a relatively new construct that has only become a standard in the past thirty years.For example, in real estate finance, you have settlement when the funds are accepted, and the deed to the property is traders to the new owner. Settlement can also mean an adjustment or agreement reached in matters of finance or business. For example, we have settled with the bank or the credit card company. A number of risks arise for the parties during the settlement process. These are effectively managed by the process of clearing, which follows trading and precedes settlement. By extension, clearing involves modifying those contractual obligations so as to facilitate settlement, often by netting and novation. Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 business days or T+2 after the trade is executed, and for listed options and government securities it is usually 1 day after the execution. Conversely in Europe, settlement date has also been adopted as 2 business days settlement cycles T+2.Settlement ExplainedA settlement is also the process of the payment of an outstanding account balance, an open invoice or charge. The electronic settlement system is a relatively new construct that has only become a standard in the past thirty years.For example, in real estate finance, you have settlement when the funds are accepted, and the deed to the property is traders to the new owner. Settlement can also mean an adjustment or agreement reached in matters of finance or business. For example, we have settled with the bank or the credit card company. A number of risks arise for the parties during the settlement process. These are effectively managed by the process of clearing, which follows trading and precedes settlement. By extension, clearing involves modifying those contractual obligations so as to facilitate settlement, often by netting and novation. Read this Term and treasury management.
Fenbushi Capital, a blockchain-focused venture firm, led the round with Dominance Ventures, Hashkey Capital, Boxing Ventures, Consensys, Protocol Labs and others participating, Forbes reported.
According to Ntsama, the company's CEO, cross-border settlement is currently the company's most advanced offering, with roughly $1 million in volume sent weekly to Canada, China, Turkey, United Arab Emirates and the United States. Later this year, a treasury management service will be launched.
Canza addresses some of the biggest challenges Nigerian enterprises faced by focusing on cross-border settlement and treasury management. To assist Nigerian businesses and FX agents in settling international transactions, Canza has established itself as a crypto-based hawaladar, which partners with companies in different countries as an on-ramp/off-ramp.
An FX agent or businessperson takes the Naira equivalent of the payment they wish to make to Canza. Using a stablecoin like USDT, Canza then transfers the dollar equivalent to its off-ramp/on-ramp partner in the destination country, who then delivers the payment in fiat to the seller.
"We're investing heavily on legal, bringing on a compliance manager, working with a combination of legal firms in different territories and going after specific licenses, such as a PSSP license in Nigeria and a money transmitter license in the US," Ntsama commented.
Serena Williams and Cryptos
Recently, Nestcoin, Nigeria’s investment firm, announced it had raised $6.45 million in a pre-seed funding round led by Venture capital firms Distributed Global and Alter Global. Serena Ventures, MSA Capital, A&T Capital, 4DX Ventures, Alameda Research and a few others also participated in the funding round.
Canza, founded by former AT&T employees Pascal Ntsama and Oyedeji Oluwole, aims to become a crypto neobank that connects African businesses to the global economy. Currently, the company offers cross-border settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 business days or T+2 after the trade is executed, and for listed options and government securities it is usually 1 day after the execution. Conversely in Europe, settlement date has also been adopted as 2 business days settlement cycles T+2.Settlement ExplainedA settlement is also the process of the payment of an outstanding account balance, an open invoice or charge. The electronic settlement system is a relatively new construct that has only become a standard in the past thirty years.For example, in real estate finance, you have settlement when the funds are accepted, and the deed to the property is traders to the new owner. Settlement can also mean an adjustment or agreement reached in matters of finance or business. For example, we have settled with the bank or the credit card company. A number of risks arise for the parties during the settlement process. These are effectively managed by the process of clearing, which follows trading and precedes settlement. By extension, clearing involves modifying those contractual obligations so as to facilitate settlement, often by netting and novation. Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 business days or T+2 after the trade is executed, and for listed options and government securities it is usually 1 day after the execution. Conversely in Europe, settlement date has also been adopted as 2 business days settlement cycles T+2.Settlement ExplainedA settlement is also the process of the payment of an outstanding account balance, an open invoice or charge. The electronic settlement system is a relatively new construct that has only become a standard in the past thirty years.For example, in real estate finance, you have settlement when the funds are accepted, and the deed to the property is traders to the new owner. Settlement can also mean an adjustment or agreement reached in matters of finance or business. For example, we have settled with the bank or the credit card company. A number of risks arise for the parties during the settlement process. These are effectively managed by the process of clearing, which follows trading and precedes settlement. By extension, clearing involves modifying those contractual obligations so as to facilitate settlement, often by netting and novation. Read this Term and treasury management.
Fenbushi Capital, a blockchain-focused venture firm, led the round with Dominance Ventures, Hashkey Capital, Boxing Ventures, Consensys, Protocol Labs and others participating, Forbes reported.
According to Ntsama, the company's CEO, cross-border settlement is currently the company's most advanced offering, with roughly $1 million in volume sent weekly to Canada, China, Turkey, United Arab Emirates and the United States. Later this year, a treasury management service will be launched.
Canza addresses some of the biggest challenges Nigerian enterprises faced by focusing on cross-border settlement and treasury management. To assist Nigerian businesses and FX agents in settling international transactions, Canza has established itself as a crypto-based hawaladar, which partners with companies in different countries as an on-ramp/off-ramp.
An FX agent or businessperson takes the Naira equivalent of the payment they wish to make to Canza. Using a stablecoin like USDT, Canza then transfers the dollar equivalent to its off-ramp/on-ramp partner in the destination country, who then delivers the payment in fiat to the seller.
"We're investing heavily on legal, bringing on a compliance manager, working with a combination of legal firms in different territories and going after specific licenses, such as a PSSP license in Nigeria and a money transmitter license in the US," Ntsama commented.
Serena Williams and Cryptos
Recently, Nestcoin, Nigeria’s investment firm, announced it had raised $6.45 million in a pre-seed funding round led by Venture capital firms Distributed Global and Alter Global. Serena Ventures, MSA Capital, A&T Capital, 4DX Ventures, Alameda Research and a few others also participated in the funding round.