• Karsa enables Nigerians to open fully digital USD accounts with virtual Visa cards.
• The fintech offers 4–5% dollar yields tied to U.S. Treasury instruments.
• The platform targets freelancers and remote workers who struggle to access simple cross-border payment tools.

In Nigeria, fintech firm Karsa positions itself as a gateway to the U.S. banking system. The company offers a simple, secure and cost-efficient way to receive, save and spend dollars while leveraging the potential of stablecoins.

Karsa is a solution developed by the Nigerian fintech of the same name. The company provides Nigerians with a virtual U.S. dollar banking service, which includes a fully digital USD account and a virtual Visa card. Founders Shahryar Hasnani and Dale Wilson launched the start-up in 2024.

Hasnani told Disrupt Africa that Nigerians still face fragmented tools for cross-border payments. “In Nigeria, transferring money internationally still means using a dozen different tools. You get paid through one app, you convert your money through another, you store your savings in a third, and you still cannot easily spend those dollars,” he said. He added: “There is no simple and reliable solution for managing money internationally, especially for remote workers, freelancers and anyone who wants to hold U.S. dollars.”

Karsa operates through a mobile app available on iOS and Android. Play Store data shows more than one thousand downloads. The platform lets users receive dollar payments, including from marketplaces such as Upwork or Fiverr, and send funds to any bank account worldwide with reduced fees. The service aims to ease financial mobility for international workers, freelancers and individuals with foreign-currency income or obligations.

The fintech also allows users to save in dollars while earning returns. The company’s website reports a 4–5% interest rate tied to yields from “US Treasury yield” instruments. This feature helps users protect their savings from naira volatility while earning a competitive dollar return.

On the spending side, Karsa says users can pay internationally through a virtual Visa card, which offers some of the most competitive fees on the market. The company’s roadmap also includes a physical card launch.

Nigeria already shows strong adoption of stablecoins. In this context, Karsa’s offer could attract users looking for a secure and liquid refuge in a strong currency.

This article was initially published in French by Adoni Conrad Quenum

Adapted in English by Ange Jason Quenum