Fintech Firm, PU Exchange Launches New App to Boost Nigeria’s Digital Trading Ecosystem

Fintech Firm, PU Exchange Launches New App to Boost Nigeria’s Digital Trading Ecosystem

Quick Read:

• PU Exchange has officially launched the PUEX App, now live on the Apple App Store and Google Play Store.
• The app marks the company’s shift from a WhatsApp-only service to a full consumer fintech platform.
• Over 1,000 downloads were recorded within 24 hours of release.
• Nigeria’s gift card trading market, valued at $2.29 billion in 2025, is projected to hit $3.88 billion by 2030.
• The app supports gift card trading, crypto-to-naira conversion, airtime, data and utility bill payments.

A Lagos-based fintech startup, PU Exchange, has stepped up its game with the launch of the PUEX App, a mobile platform designed to sharpen Nigeria’s fast-growing digital trading scene. The move signals the company’s full transition from a WhatsApp-based operation to a dedicated consumer fintech app now available on both the Apple App Store and Google Play Store.

Speaking on the launch, PU Exchange’s Chief Executive Officer, Prosper Mbakwe, said the company built its early reputation on WhatsApp because that was where its customers were. He explained that scaling up now required a dedicated platform capable of offering faster rates, instant payments and real-time transaction tracking, features that could not be fully delivered through chat alone.

The PUEX App allows users to sell internationally issued gift cards for instant naira payouts and convert supported cryptocurrencies into local currency. Beyond that, the app also handles airtime and data purchases, as well as utility bill payments, positioning it as an all-in-one digital trading tool rather than a single-purpose service.

According to Mbakwe, PU Exchange’s WhatsApp community had already grown to more than 7,000 active traders before the app’s release, built on personalised customer service and competitive exchange rates. With the new app, he noted that transaction times have dropped dramatically, from lengthy back-and-forth chats to under two minutes.

Market timing appears to be working in the company’s favour. Mbakwe pointed to figures showing Nigeria’s gift card trading market was valued at $2.29 billion in 2025 and is expected to grow to $3.88 billion by 2030, driven largely by Nigerians receiving gift cards from relatives abroad, international employers, and global freelance platforms that don’t support direct naira payments.

Early numbers suggest the app is already gaining traction, with more than 1,000 downloads recorded within the first 24 hours of its release. The platform supports gift cards issued in the United States, the United Kingdom, Canada, Australia and other major markets, including popular brands like Amazon and Google. It also enables users to convert a range of supported cryptocurrencies into naira, further widening its appeal among Nigeria’s digital traders.