Clea, a blockchain-powered cross-border payments platform, has officially launched operations, unveiling a solution aimed at addressing long-standing payment challenges faced by African importers. The company disclosed that it successfully processed more than $4 million in transactions during its pilot phase, underscoring strong early demand for faster and more reliable international payment options.
African importers have historically faced multiple obstacles in global trade, including restricted access to foreign exchange, volatile exchange rates, high banking charges, payment delays, and exposure to fraudulent intermediaries. These constraints are compounded by Africa’s estimated $120 billion annual trade finance gap, which continues to limit access to dependable financial infrastructure for international commerce.
Clea says its platform directly addresses these challenges by enabling importers to pay suppliers abroad in United States dollars while settling transactions locally in their domestic currency. By leveraging blockchain technology, the platform offers direct, transparent, and traceable USD settlements, eliminating the need for intermediaries and reducing delays associated with traditional banking channels.
Founded by Sheriff Adedokun, Iyiola Osuagwu, and Sidney Egwuatu, Clea was developed from the founders’ first-hand experiences with unreliable international payment systems. The platform currently supports Nigerian importers trading with suppliers in major global markets, including the United States, China, and the United Arab Emirates, with plans underway to expand into additional trade corridors.
Core features of the platform include local currency payments with instant access to USD, same-day or next-day settlement options, and end-to-end transaction traceability designed to minimise fraud risks and strengthen supplier confidence.
Speaking on the launch, Sheriff Adedokun, Chief Executive Officer and co-founder, said delayed or rejected payments often create unnecessary stress for importers and damage business relationships. According to him, Clea eliminates such uncertainty by ensuring payments are completed securely and in the importer’s own name, thereby enhancing credibility with international suppliers.
On his part, Iyiola Osuagwu, co-founder and Chief Technology Officer, explained that the company’s vision is to make global trade as seamless as local transfers. He noted that by connecting local currencies to global payment networks through blockchain technology, Clea is removing barriers that have constrained African importers for years.
Clea is already working with shipping operators that refer merchants to the platform and is engaging trade associations and logistics networks across key import hubs. While the company remains fully bootstrapped, it has indicated openness to strategic investors who share its mission of building a trusted global payments infrastructure for African businesses.
Looking ahead, Sidney Egwuatu, co-founder and Chief Operating Officer, said the company’s next phase will focus on scale and partnerships. He revealed that Clea plans to expand its services across all 36 states in Nigeria, deepen strategic collaborations, and open new payout routes across Africa and beyond.
With early traction and a growing network of partners, Clea’s market entry is expected to play a significant role in improving the efficiency, transparency, and reliability of cross-border payments for African importers navigating the global economy.
Clea, a blockchain-powered payments platform, launches in Nigeria after processing over $4m in pilot transactions, offering African importers fast, transparent USD cross-border payments.
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