When Martins Ejeheri moved to the United States in 2023, he encountered a problem he never expected: converting cryptocurrency to dollars took days.
He noticed that people held significant amounts of digital currency but could not spend them because businesses did not accept them. And when they tried to convert it by other means, it took days, and they sometimes risked being defrauded.
Ejeheri had spent nearly a decade building over 500 blockchain solutions globally, and experiencing this delay frustrated him, leading him to build a global payments solution to address the gap.
This became the foundation of ClockPay, a startup dedicated to facilitating stablecoin payments between businesses and their customers.
“I’ve been in this space for almost ten years, and I have seen how we can convert cryptocurrency to fiat currency in minutes. So, I felt, this shouldn’t be a problem. I asked people in the blockchain ecosystem and learnt it was a big issue. But now, people who are like me with liquidity in cryptocurrency are able to instantaneously make purchases without converting,” Ejeheri, Co-founder of ClockPay, tells Techpoint Africa.
What ClockPay does
ClockPay enables businesses to receive payments in digital currencies, such as stablecoins. The startup provides API integration that enables businesses to receive cryptocurrencies and settle them in their preferred fiat currency.
The platform offers tools that feel familiar to anyone who has used a payment processor. There’s enterprise API integration for businesses that want to embed payments directly, invoicing tools, and wallet systems. The difference lies in the ability to convert cryptocurrency to fiat almost instantly.
“We are enabling businesses to receive payment in local currency,” Ejeheri says. “We’ve been able to do this by providing API integration for businesses to receive cryptocurrencies and instantly convert them to their local currency.”
A merchant in Lagos can receive USDC from a customer in California and settle in naira within minutes. A UK startup raising funds in crypto can convert to pounds immediately. And companies managing liquidity across markets can move funds from one currency to another without navigating the multi-step processes required by traditional channels.
A product built for global businesses
The platform focuses on small and medium-sized businesses, startups, eCommerce companies, and content creators that frequently deal with international customers.
Ejeheri adds that ClockPay is a great platform for fintechs and larger organisations that need to move liquidity across borders.
“One of our features is enabling businesses to have a US bank account without being in the United States. So they are able to on-ramp and off-ramp stablecoins into the US dollars and from the US dollars into stablecoins.”
Traction
ClockPay has onboarded 150 businesses in the United States and Africa.
The payment infrastructure now covers over 24 countries, with licensing in the United States, China, the UK, and multiple African markets.
“We launched on Shopify to enable eCommerce merchants to receive payment in cryptocurrency, and many businesses have onboarded and integrated our API to receive digital currencies.”
Additionally, operating across borders means navigating complex regulatory requirements. ClockPay’s approach has been to secure licensing early and expand coverage deliberately.
“In the United States, we already have our Money Services Business (MSB) license that enables us to pay out in all 50 states. We have acquired the Money Transmitter License (MTO) for 48 states.”
In Africa, the company partners with regulated institutions to obtain coverage across 24 countries. The UK and China are also included in their licensing footprint.
Today, the company has processed over $45 million in transactions
The ClockPay model
Ejeheri explains that the company makes money through its two products.
First, from the API integration, ClockPay charges a 1.3% transaction fee when businesses receive money through its API.
The second is the conversion spread. Whenever users off-ramp from crypto to fiat or move between currencies, ClockPay earns revenue on the margin on each exchange.
ClockPay is also building additional products focused on analytics and asset ownership with ClockInvest, although these are still in development.
Looking ahead
ClockPay’s long-term vision extends beyond payments. Ejeheri sees the company as a bridge between blockchain systems and everyday financial activities.
That includes future tools that help individuals invest, earn passive income, and plan long-term financial goals using blockchain-powered assets. The broader goal is to make blockchain feel less like a niche technology and more like everyday infrastructure.
“We are bringing blockchain through ClockPay into the mainstream economy. For instance, with ClockVest, the product we are building, people are going to be able to invest and make residual income.”
For now, the company is focused on refining its core payment rails and expanding its coverage.
