Zone
The decentralised, regulated blockchain network for Africa's payments ecosystem
What it does
Zone (formerly Appzone Group) was founded in 2008 by Obi Emetarom, Wale Onawunmi, and Elendu Uche to build Africa's first decentralized payment switching network powered by blockchain technology. Operating under a CBN Payment Switching license, Zone connects commercial banks and fintechs to process direct peer-to-peer interbank transfers without central intermediaries. It is celebrated as a pioneer in decentralized financial infrastructure.
Switching & routingCard scheme infrastructureBlockchain analytics
Known for
- First African decentralized payment switching network
- Blockchain-powered interbank payment rails
- Licensed payment switching platform by CBN
- ATM & POS decentralized transaction processing
Model & industry
Infrastructure-as-a-Service (fintech rails)Blockchain-as-a-ServiceBanking & Financial Services
Funding history
$8.5M
Total raised
1
Rounds
Seed
Latest stage
2024
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2024-03 | Seed | $8.5M | Flourish Ventures, TLcom Capital |
Source: Condia Funding Tracker
Products & subsidiaries
ZoneATM · ATM Switching RailZonePOS · POS Switching ArchitectureZone Cross-Border Rail · Remittance Protocol
People
Investors
TLcom CapitalDigital Currency Group (DCG)Alter GlobalConstance CapitalFlourish VenturesVerod-Kepple Africa VenturesCardinalStone