Mular

Mular is a Nigerian crypto-to-fiat payment application that lets users convert and spend cryptocurrency as Nigerian Naira (NGN) in real time — eliminating the peer-to-peer trading friction that has historically complicated crypto-to-cash conversion in Africa's largest economy.

The Problem Mular Solves

Nigeria has one of the highest cryptocurrency adoption rates in the world, with an estimated 22 million crypto users as of 2025. Persistent Naira devaluation — the currency lost a third of its value in the first half of 2024 alone — has made stablecoins and other digital assets an attractive savings and remittance tool for millions of Nigerians. Yet converting crypto to Naira for everyday spending has traditionally meant navigating peer-to-peer (P2P) markets: a slow, opaque process prone to fraud, frozen accounts, and unpredictable rates.

Mular replaces this workflow with a regulated, app-based service that converts crypto to Naira and settles directly to Nigerian bank accounts, typically within 99 seconds, with a benchmark of sub-30-second payouts.

How It Works

Users fund a Mular crypto account using any of six supported assets — USDT, USDC, BTC, ETH, SOL, or BNB — across more than 10 blockchain networks, with 48+ wallet integrations supported. The platform quotes a live market rate with a flat 1% fee, then pays out to any of 1,400+ Nigerian bank accounts on instruction.

Beyond simple conversion, Mular includes several payment tools:

• Mular-to-Mular (M2M) transfers: Instant peer transfers between Mular users without going through bank rails.
• Payment links: Users can generate links to receive stablecoin payments from anyone globally — useful for freelancers and remote workers paid in crypto.
• Bill payments: Airtime, utilities, and select merchant point-of-sale payments can be made directly from a crypto balance without pre-converting to Naira.
• Currency converter: An in-app swap tool lets users convert between supported assets.

Solana Integration

SOL is a natively supported asset on Mular. Users can hold, convert, and spend Solana directly through the app and withdraw to any Nigerian bank account in the same flow available to stablecoin users. Mular's support for over 10 blockchain networks means SOL holders are not required to bridge or swap to a different network before using the platform.

Security and Custody

Mular stores 98% of user assets offline in cold storage and applies bank-grade encryption across all transactions. On-chain verification is used for all transfers, and the app supports PIN and Face ID authentication.

Traction

As of 2025, Mular has surpassed 100,000 registered users. The company's partner network processes more than $10 million in transactions daily. The platform connects to 1,400+ Nigerian banks and supports 48+ wallet integrations.

Market Context

Mular operates from Yaba, Lagos — Nigeria's primary technology district — under the entity Mular Technologies Ltd. The company was founded in early 2024, entering the market during a period of accelerating stablecoin adoption driven by Naira instability. Its target users include Nigerian freelancers earning in crypto, diaspora remittance recipients, and traders looking to exit crypto positions without using P2P platforms.

The platform's competitive positioning centers on speed (sub-30-second bank settlements versus the one-to-two hour waits common on P2P desks), price transparency (live rates displayed with no hidden markup), privacy (no counterparty exposure of identity or transaction history), and breadth (1,400+ supported banks). A flat 1% fee applies consistently across all supported assets and conversion directions.

Mular represents a category of infrastructure connecting Solana and multi-chain liquidity to local fiat rails in sub-Saharan Africa. By routing SOL, stablecoins, and other digital assets directly into Nigeria's banking system, the platform bridges global on-chain capital to everyday local spending — a use case that grows more relevant as Naira volatility continues to drive crypto adoption across the country.