GIG Logistics introduces crypto wallet feature to 2000 users in beta phase

The crypto wallet will be released in beta phases to 2000 users and progress to 8000-10000 users within two weeks…
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Pan African logistics company, GIG Logistics (GIGL) has released a version of its propriety delivery app “GIGGo’ with a crypto wallet. The crypto wallet will be released in beta phases to 2000 users and progress to 8000-10000 users within two weeks before a final release to all. The beta version of the wallet will give room for adequate feedback on functionalities and user experience.

This development is coming after much speculation as to the specific features of the crypto wallet. For this integration, GIGL has partnered with XPAD, a crypto platform that will power the custodial service’s backend.

We spoke with GIGL’s Director of Operations, Ocholi Etu, who described the move as part of the company’s effort to further promote the ease and efficiency of the business. According to Etu:

We are advocates for borderless transactions, progress and economic freedom. As a global delivery partner to all our users worldwide, we want to offer the ability to do much more than deliveries by providing digital services that promote efficiency, ease and wealth. Our customers be they individuals, e-commerce merchants or corporate partners, can now buy and hold digital assets on GIGGo through the integration with XPAD.

GIGL’s Director of Operations, Ocholi Etu

How it works

Users of the GigGo app will get an update notification, introducing the crypto wallet functionality and get a prompt to sign up. If the user already has an account with the XPAD platform, they will be required to import their XPAD wallet by inputting wallet credentials.

This action will enable current XPAD users to perform crypto transactions from the GIGGo app.

Some of the assets available for purchase are UDST, BITCOIN and CFX, as opposed to the initial thought that the company will be minting customised tokens. Beta users will be allowed to make any asset purchase worth the equivalent of a maximum of 500,000 Naira daily.

On the crypto wallet, users would be enabled to perform basic financial transactions like buying items, saving money, sending, withdrawing and earning from digital assets through investment. However, users of the app cannot pay for GiGL services using crypto yet. Otu told us that feature is something that is still in the works.

“Eventually, they will be able to but right now, that functionality is not enabled as we are still in beta testing. For now, customers rewards and discounts will be crypto-based”, he said.

Why crypto?

Africans hold a significant worth of cryptocurrency. According to a report released by Chainalysis, a digital analytics firm, Africans received $105.6 billion worth of cryptocurrency between July 2020 and June 2021. That represents a 1200% market growth with Nigeria, South Africa, and Tanzania ranking in the top 20 of the Global Crypto Adoption Index.

The logistics space is pivotal to the day to day living of many Africans. Businesses and individuals in Nigeria rely on transport and logistics companies to get their goods/services to customers. Increasingly, these businesses require cross border transactions. And, that is where crypto transactions come in handy.

GIG Logistics (GIGL) Award at Techpoint Award 2021
GIG Logistics (GIGL) was named the logistics company of the year at the Techpoint Awards 2021. Mr Ocholi (middle) receiving the award on behalf of the company…

Mr Ocholi Otu told us that the integration of the wallet is in line with the company’s futuristic orientation. “GIGL is notable for incorporating technology, as seen in its launch of electric delivery vans”, he adds.

According to him, the integration will make business easy for users of the GiGGo app, most of whom are merchants. He also said that Users will have the ability to pay for global transactions without restrictions.

“Most of our users are merchants and their businesses are import based. They need to make payment using a global currency and that poses a challenge but with the crypto wallet, users can make payment to vendors using crypto on the app”, he adds.

There are some other functionalities on the app such as payment of utility bills and this addition is simply another step in making things easy for their customers.

“Why many apps when you can use one to manage your lifestyle and daily transactions?”, he concludes.

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