According to Foresight News, Nigerian fintech company Vella Finance has stopped offering cryptocurrency-related services as of October 30th, shifting its focus to providing banking services for small and medium-sized enterprises (SMEs).
The decision comes as the company aims to concentrate on its core business of serving SMEs, which are often underserved by traditional banks. By discontinuing its cryptocurrency services, Vella Finance can dedicate more resources to developing and expanding its banking offerings for these businesses.
This move highlights the growing trend of fintech companies pivoting away from cryptocurrencies and focusing on more traditional financial services, as they seek to cater to the needs of a broader customer base.