Kuda Bank Unveils Multi-Currency Wallet to Support Cross-Border African Customers

In a strategic push to cater to the financial needs of Africans living and working across borders, digital bank, Kuda has rolled out a multi-currency wallet that allows users to manage five different currencies in a single account.

Currently in its testing phase, the new feature is designed to streamline how users handle international finances. With support for the US Dollar, British Pound, Euro, Nigerian Naira, and Canadian Dollar, the wallet enables users to hold, fund, convert, and spend globally without leaving the Kuda app.

Speaking at a media parley in Lagos, Kuda’s Senior Vice President of Business Banking, Nosa Oyegun, explained that the goal is to bridge the financial gap created by geographic movement.

‎“Africans are no longer bound by borders. Whether they live, travel, or work abroad, their money should move just as freely,” he said.

‎Kuda has opted to integrate the wallet within its core banking platform rather than developing a separate app. This allows customers to perform foreign currency transactions alongside their regular banking activities, eliminating the need to toggle between multiple platforms.

‎The wallet is currently accessible to eligible Android users outside Nigeria, with iOS availability expected soon.

Oyegun noted that the decision was fueled by data. In 2024, over ₦100 billion in cross-border inflows came into Kuda accounts via LemFi, revealing a growing demand for seamless financial tools for Africans abroad.

‎More than just a currency conversion tool, the wallet is positioned to serve diaspora users by offering a way to send funds home, manage spending while visiting Nigeria, and remain financially connected across regions.

“We’re not just solving a payment issue we’re retaining customers who’ve moved abroad. They haven’t left Kuda; they’ve just changed their location,” Oyegun added.

‎The initiative signals Kuda’s broader ambition to become a full-fledged financial partner to Africans globally, beyond the limitations of national borders. It also aligns with its strong Q1 2025 performance, during which the bank processed ₦8.4 trillion in transaction volume and held ₦453 billion in customer savings evidence of growing trust in its digital-first model.

‎As the fintech space continues to evolve, Kuda’s move places it firmly among the continent’s leading innovators focused on cross-border solutions.