Crypto Valley VC invests in the cryptocurrency payment startup Ivorypay.

Venture Capital firms around the world are constantly in the search for innovative solutions and outstanding ideas to back. There has been a special attention given to projects in the crypto space in recent years. This is because blockchain-based solutions are considered to be the next big trend in global technological evolution.

Crypto Valley VC (CV VC) has been one of the VC firms dedicated to funding crypto startups. It does this through its accelerator program where it handpicks promising blockchain projects and grooms them into household names in the Web3 space.

CVVC recently kickstarted its 5th global blockchain startup accelerator where it selected nine innovative projects to work with. Ivorypay, a crypto payments solution based in Africa, was selected as one of the projects to partake in the current round. The CVVC batch 5 accelerator consists of innovative projects from around the world in payments, web3 dev training, regenerative finance, gaming infrastructure, no-code tools, marketplaces, and BNPL services.

Ivorypay’s selection is significant as it is only one of three African projects that made the round. Its innovative solution aims to facilitate blockchain-based online and offline payments on the African continent. Ivorypay specifically seeks to remove the barriers to intra-country and cross border payments for African businesses.

It is common knowledge that businesses in Africa face a myriad of challenges. These challenges range from the high cost of local and cross-border transactions, to foreign exchange restrictions on dollar-based online purchases , and the uncertainty on transaction completion time. All of these challenges are what Ivorypay is solving for African businesses with blockchain technology..

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