FUNDING | Nigerian Crypto Startup, Konnadex, Secures $20,000 Lisk Grant to Boost Stablecoin Payments for e-Commerce

Konnadex, a Nigerian crypto payments processor focused on e-commerce, has secured a $20,000 grant from Lisk following its successful incubation under AYA HQ. This funding will power the company’s efforts to scale stablecoin-based payments across the continent.

On X, The Founder of Konnadex, Ugochukwu Okoro, confirmed the news and celebrated the milestone. He noted how the support from Lisk will help them deepen the Konnadex payments infrastructure and expand merchant access to crypto payments.

Recall that Konnadex was one of 8 startups that graduated from the Lisk Cohort 2 incubation program.


The program offers up to $20,000 in grants per project by graduation, along with continuous mentorship, a structured curriculum, and access to a strong network to help startups thrive.

Participants also receive ongoing support from Lisk and the opportunity to secure up to $100,000 in additional funding to grow their ventures.

Through its platform, Konnadex enables businesses to connect their own crypto wallets directly to its payment gateway. By leveraging Lisk’s Layer-2 blockchain, the company aims to make stablecoin transactions more seamless, affordable, and reliable – particularly for African merchants.

The grant underlines Lisk’s broader African-focused commitment through its Blockchain Incubation Hub, which supports high-growth Web3 founders in emerging markets.

For Konnadex, the funding is more than financial support; it is a validation of its vision to drive crypto commerce adoption using stablecoins.

“This marks a strong validation of what we’re building at Konnadex*, making stablecoins truly usable in everyday commerce through a seamless payment gateway, invoicing tools, and smooth on and off-chain integrations,”* said Okoro.

“This grant supercharges our mission to make stablecoin payments effortless, universal, and ready for real-world use. The future of commerce is here, and Konnadex is leading the way.”

As stablecoins continue to gain traction across Africa – thanks to their potential to lower cross-border transaction costs and offer currency stability – Konnadex’s grant is a timely boost for fintechs looking to unlock crypto for real-world commerce.

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