After the introduction of the first cryptocurrency over a decade ago, a lot of controversies followed the innovation. The technology behind the new digital assets was quite complex and challenging for the average man to grasp. Further, the initial coins were characteristic of high volatility that saw governments issuing warnings against them. 

According to a Library of Congress World Cryptocurrency Survey, central banks-issued alerts were among the most common observations. The survey targeted 130 countries, and some of them went to the point of including the crypto market in their organized crimes, money laundering, and counterterrorism laws. In some countries like Algeria and Pakistan, any activity involving cryptocurrency was rendered illegal. 

In any case, the cryptocurrency industry has been growing steadily, and different jurisdictions now focus on their regulation rather than the institution of bans. Blockchain companies have specifically played a significant role in this through the unveiling of diverse and exciting blockchain products and services. Apollo Fintech is notably one of the key players, and its latest innovation will see cryptocurrency adoption reach unprecedented heights.

The company prides in extensive blockchain-based products and services, and has introduced a National Payment Platform (NPP) that will allow central banks to launch cryptocurrencies.

About NPP

The National Payment Platform is an innovation by Apollo Fintech that aims to give central banks the power to issue a central bank digital currency (CBDC). The CBDC will be a form of a stablecoin which after issuance, the central bank can add banking service agents and commercial banks to its network. The banking services providers can then bring in individual customers and commercial entities to use the currency for their financial needs. The digital coins will be useful in all financial transactions, including making payments, cash transfer, cash deposits, cash withdrawals, and exchange. 

National Payment Platform Unique Features

While Apollo Fintech’s National Payment Platform will support the normal banking service functions, it will be the first to introduce a sovereign digital currency. Users will benefit from the convenience of executing cashless banking transactions, and commercial institutions can now harness blockchain capabilities. Apollo Fintech’s CEO Stephen McCullah noted that economic players would enjoy stability, financial control, and save time and resources.

The platform facilitates easy access to cashless banking services as users will only need to sign up online as opposed to the traditional account opening. Each individual or business entity will have an online wallet from where to make payments, withdraw or transfer cash. The transactions will not have the limitations associated with traditional banking, such as when moving money abroad. Instead, each transaction will be executable instantly. 

Users can, however, link their bank cards to the wallet to facilitate deposit or withdrawal. Users’ financial information and history of transactions will remain protected through blockchain’s quantum-resistant encryption and the distributed ledger. The platform will have no downtimes and can be accessed anywhere in the country through authorized agents and commercial banks. 

Unlike in traditional banking, NPP comes with additional capabilities. It incorporates a point of sale system that allows traders to publish their product catalogues, sell, and receive payment directly. The platform will generally make banking and trade more straightforward and more accessible while promoting the adoption of the CBDC as a form of cryptocurrency. 

How NPP Will Promote Crypto Adoption

One of the critical issues that made potential investors and governments afraid of bitcoin and other cryptocurrency projects right from their introduction was the lack of a central authority. Most investors trust fiat currency for the reason that they have a central control that claims their worth. Volatility was the next big thing undermining the crypto world, although blockchain experts are still coming up with better options like the stablecoins. Stablecoins now have the backing of fiat currency, other cryptos, or valuable tangible assets such as gold. 

Accessibility was also a problem, given that for individuals to enjoy the convenience of digital currency, they needed an internet connection and an electronic device. A smartphone was the least one could have. 

However, NPP is revolutionizing how individuals perceive and access crypto assets. While the sovereign digital currency users need to register their wallet online, they do not necessarily have to own smartphones or computers to execute transactions. The platform supports peer to peer transactions using SMS, QR Codes, and Bank Cards. As such, individuals without phones with modern operating systems will still have access to banking services. Such capabilities of the platform will promote adoption of the new stablecoin, given that World Bank statistics indicate over 1.5 billion people in the global population lack access to banking. 

The central bank digital currency will have government support and the central banking acting as the controlling authority. Therefore, investors and citizens will have trust in both the digital assets and the system, thus accelerating its adoption. As a stablecoin, investors will have confidence in the new currency, since stablecoins are free from volatility risks. Besides, the platform’s functionality which includes the ability to publish and sell directly while receiving payment makes it quite attractive for merchants. 


Following Apollo Fintech’s completion of the National Payment Platform, the world can now only anticipate the launch of several state-owned cryptocurrencies. The platform supports features that could not only increase adoption but also open up the path for the development of stablecoins, even in countries that initially banned cryptocurrency. 

Countries like China that had instituted indirect restrictions on cryptocurrency are already carrying out tests on a new digital currency created by the People’s Bank of China. The platform will accelerate cryptocurrency adoption while allowing governments to speed up economic transformations through financial stability, efficiency, and control.