Stellar Development Foundation invested $750K in Cowrie Integrated Systems, a London-based fintech enabling cross-border payments and remittances across Africa, particularly Nigeria, while engaging with regulators on cryptocurrency policy.
The Stellar Development Foundation announced a $750K USD Enterprise Fund investment in Cowrie Integrated Systems, a fintech startup providing cross-border payment services in emerging markets with focus on Nigeria. Cowrie enables users in countries with non-internationally traded currencies to access global financial markets and remittance corridors. The investment comes amid regulatory uncertainty in Nigeria following Central Bank guidance in February, with Cowrie adapting its business model to ensure compliance while engaging with regulators. SDF CEO Denelle Dixon emphasized the Foundation's commitment to supporting companies that demonstrate regulatory engagement and public-private partnership. This marks the second Enterprise Fund investment in 2021, following a $5 million investment in Wyre in January.
