GIGX Technologies, an African financial asset platform focused on simplifying global savings, investing, and spending, has significantly expanded its operational reach by acquiring key licenses in Zambia and Canada for its product, XPAD. This strategic move positions the company as an emerging intercontinental financial services provider, extending its services beyond its foundational African market.

In Zambia, GIGX Technologies has successfully obtained a Payment Service Provider (PSP) license. This crucial authorization grants the company the ability to fully own, operate, and manage a comprehensive payment services infrastructure within the country, thereby enhancing its localized offerings and market penetration.

Further solidifying its global footprint, GIGX secured a Money Services Business (MSB) license in Canada. This Canadian license marks a substantial expansion of its service offerings into North America. The MSB license enables GIGX to provide a broad spectrum of financial services, including money transmission, currency exchange, check cashing, and virtual currency platforms. This strategic entry into the Canadian market is poised to strengthen GIGX Technologies' position as a key player in the global financial services industry and enhance its overall service capabilities.

By combining advanced multi-currency wallet solutions with these newly licensed financial services in Canada, XPAD is exceptionally well-equipped to meet the diverse needs of a wide client base. This includes individuals and families seeking efficient remittance solutions, as well as businesses requiring reliable and secure cross-border financial services. Osamede Arhunmwunde, CEO and Co-founder of GIGX Technologies, highlighted the transformative potential of these new operational capabilities. He stated, “With these strategic licenses, XPAD is set to change the way individuals and businesses in Nigeria conduct cross-border transactions. The company hopes to make essential financial services more accessible, secure, and efficient.”

GIGX Technologies was founded with the aim of offering GIG Logistics’ extensive customer base, exceeding 500,000 users, a streamlined tool for sending, receiving, and exchanging currency. The company has forged notable partnerships with industry leaders such as Ernst & Young, Fireblocks, and Quidax, a portfolio company of the Techstars Toronto Accelerator. Prior to its official launch in 2021, an insider report indicated that a major African brand in the mobility and logistics sector was in advanced stages of collaborating with international partners to develop Africa’s first decentralized blockchain-enabled project financing platform. GIGX Technologies later confirmed its launch of what would be Africa’s first decentralized marketplace.

Initially, GIGX developed an all-in-one application that allowed users to store, earn, invest, and spend their crypto-assets, aspiring to democratize financial access for Africans and beyond. However, GIGX Technologies has recently restructured its approach. Shifting from primarily utilizing cryptocurrency to address global payment challenges, the company has leaned into a more direct strategy, now offering users multi-currency wallets specifically designed for global remittances. This strategic pivot empowers the company to facilitate efficient and secure cross-border transactions, thereby granting individuals and businesses seamless access to critical payment solutions. This evolution and commitment to its mission were further validated by its admission into the prestigious Techstars Toronto Accelerator 2022 Cohort, reinforcing its dedication to making finance universally available for Africans.