Decentralized Finance (DeFi) is the new Financial ecosystem that is here to disrupt the old way or traditional way of Finance. DeFi is a new financial system that is created and built on blockchain networks.
According to a new report released by Enhancing Financial Innovation and Access (EFInA), more Nigerians are embracing financial services, with positive impact on lending and the economy.
Coming to Nigeria, the story is not the same. The first mobile money service in Nigeria dates back to 2009. Since then, a dozen new mobile money service providers have emerged with Paga currently, topping the list.