According to *The Fintech Times*, stablecoin payment company RedotPay has announced its partnership with Ripple to launch the "Send Crypto, Receive NGN" feature. This service supports the instant conversion of crypto assets such as USDT, USDC, XRP, BTC, and ETH into Nigerian Naira (NGN) and deposits directly into local bank accounts, significantly reducing cross-border payment settlement times to just a few minutes. Nigeria's cross-border remittance market is estimated to be around $21 billion in 2024, with stablecoin transaction volumes nearing $59 billion annually. Cryptocurrencies in the region are more geared toward practical utility. In May of this year, RedotPay announced the completion of a $47 million strategic funding round, with Coinbase Ventures among its investors. [https://t.co/69HMKTKbfx](https://t.co/69HMKTKbfx)
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