Nigeria’s latest CDBC partner, Gluwa, wants to improve the digital infrastructure in the country. In a recent conversation with the Vice President of Nigeria, Kashim Shettima, Gluwa’s CEO, Tae Oh who recently visited the country, discussed using financial technologies to improve the nation’s digital landscape.
Gluwa is a financial platform offering innovative solutions. The company leverages blockchain technology to facilitate investments in funding loans for the unbanked population, showcasing a commitment to financial inclusion and empowerment.
Gluwa’s approach emphasizes the use of blockchain to bridge the gap between investors and those in need of financial support. Through its use of blockchain, Gluwa enables investors to directly fund loans for individuals who lack access to traditional banking services, thereby fostering economic opportunities for underserved communities.
In a statement, Gluwa shared details of their partnership with the Central Bank of Nigeria following a meeting with Nigeria’s Vice President. This collaboration cements Gluwa’s position as an official CBDC Partner Agent, focusing on driving the adoption of the eNaira and underscoring its dedication to financial inclusivity.
Additionally, Gluwa introduced its satellite-based Internet Service Provider (ISP) solution aimed at extending internet access to rural areas in Nigeria. This initiative is in line with Gluwa’s overarching mission to empower individuals with economic resources, information, and connectivity, ultimately transforming global capital markets.
The Central Bank of Nigeria (CBN) and Gluwa are collaborating on Central Bank Digital Currencies (CBDCs), virtual currencies issued by central banks. The CBN, along with other central banks worldwide, is exploring CBDCs’ potential to modernize financial systems and improve financial inclusion.
Several countries like Australia, Brazil, China, India, Japan, Nepal, the Philippines, Russia, South Korea, and Switzerland are actively engaged in developing their own CBDC projects, each with unique timelines and objectives.
Furthermore, Gluwa introduced its satellite-based Internet Service Provider (ISP) solution during the meeting. This initiative aims to extend internet access to rural areas in Nigeria, aligning with Gluwa’s broader mission to equip individuals with economic tools, information, and connectivity, thus transforming global capital markets.
