BreadAfrica: Turning Crypto into Life-Saving Cash in 2 Minutes

Iam Etefia, co-founder of BreadAfrica, is leveraging blockchain technology to create a universal money bridge aimed at solving Africa's financial inclusion challenges. A former co-founder of Peniremit and Peniwallet, Etefia exited those ventures in 2023 for $250,000 before co-founding BreadAfrica in 2025 alongside Maven Harry. The startup operates as a Web3 infrastructure, enabling seamless global access to crypto funds with real-world utility. BreadAfrica processes over 1,000 transactions across seven countries and supports multiple blockchains, including Solana, Ethereum, and Bitcoin, to facilitate instant fund conversions to local bank accounts within two minutes [1].

BreadAfrica’s mission is rooted in Iam Etefia's long-standing belief in technology-driven problem-solving. With a background in computer science and experience working with major tech firms and crypto platforms, Etefia has remained focused on innovation rather than financial gain. His fascination with Steve Jobs and Apple has shaped his vision for BreadAfrica, which he aims to make the "Apple of the Web3 space." The platform’s name is inspired by the cultural significance of bread in Africa, symbolizing daily needs and aspirations. This alignment with local narratives has contributed to BreadAfrica’s organic growth and market fit [1].

The startup addresses a critical gap in Africa’s financial ecosystem—slow and costly cryptocurrency-to-local-currency conversions. Despite Africa’s second-highest global crypto adoption rate, many users struggle to convert digital assets into usable funds. BreadAfrica bypasses traditional on-ramp and off-ramp solutions by offering a universal money bridge that supports diverse blockchains, including meme coins. This versatility caters to both experienced crypto users and newcomers, bridging the gap between digital assets and real-world financial needs [1].

BreadAfrica’s impact is evident in real-world use cases. For instance, a Nigerian user was able to convert his crypto funds to local currency in under two minutes to cover an emergency medical procedure for his wife. Similarly, a Kenyan traveler used the platform to convert her crypto to local currency to secure accommodation. These cases highlight the platform’s core value proposition: instant access to funds, regardless of location. BreadAfrica is not merely facilitating transactions but redefining the relationship between digital assets and tangible financial solutions [1].

However, challenges remain. Regulatory hurdles and liquidity constraints in Nigeria have posed significant obstacles, requiring BreadAfrica to adopt a multi-pronged approach to compliance and resilience. Etefia emphasizes the startup’s proactive strategy, which includes collaborating with compliant providers and maintaining contingency plans. Despite these challenges, user adoption has been swift, supported by prior educational efforts like Bloctizen, which trained a million people in Web3 concepts. This groundwork has enabled BreadAfrica to scale quickly, with over 1,000 transactions processed in just seven weeks [1].

Looking ahead, BreadAfrica aims to expand its infrastructure to support developers, enabling the creation of bots or apps that integrate with the platform. The startup’s roadmap includes scaling from 1,000 transactions to 10,000 and beyond, with a focus on gradual feature rollout to ensure product stability. Iam Etefia encourages young African entrepreneurs to prioritize curiosity and global awareness, advocating for problem-solving with long-term vision rather than immediate profit. His journey from a curious Lagos student to a Web3 founder underscores the transformative potential of technology in redefining financial systems across the continent [1].

Source: [1] 3x founder, Iam Etefia is building a universal money bridge ... (https://technext24.com/2025/08/21/iam-etefia-3x-founder-money-breadafrica/)