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CBN on Cryptocurrency: Patricia Technologies assures customers of funds safety

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Addressing the CBN circular’s impact on her services and partnership with foreign payment solutions company; Vaunt, Patricia Technologies has assured his customers of safety and good service without flouting the regulatory body’s position.

In a release signed by the company, February 18, 2021 the company assured all their customers of their funds’ safety in their respective Patricia wallets.

The release reads thus : “The recent CBN circular of February 5th, 2021 to Deposit Money Banks (DMBs) to desist from transacting in/and with entities trading cryptocurrencies has dramatically impacted how we conduct business. On this note, we want to assure all of our customers of the funds’ safety in their respective Patricia wallets.

“We understand that there have been challenges and limitations concerning our ecosystem. This policy has had ripple effects on other services like Airtime2Cash, Refill Services and Gift cards buying and selling.

“We have gone ahead to seek solutions that would address our customers’ urgent needs, and we would be rolling them out in the coming days. One of such solutions is our partnership with VAUNT; a foreign payment solutions provider with the sole goal of making money transactions easy, seamless and faster than ever before. VAUNT pioneered its service with its Peer-to-Peer (P2P) payment gateway, which will ease the current strain and challenges they are experiencing and more payment solutions to be introduced to the Nigerian and African market.

“On the 10th, of February 2021, we introduced a new withdrawal method that allows customers to initiate withdrawals once a day only via the website al. We are currently testing out the integration to ensure our customers get the best service possible. There have been challenges with this withdrawal method which has seen many of our customers experiencing delayed payments; we understand your pains, and we are committed to fixing these issues.

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“We are aware that our customers have been unable to send out their BTC assets and we are working hard to restore this service. We have always been committed to security within our ecosystem; this is why we are heavily invested in rigorous testing to ensure we nip any and every potential risk in the bud before it even occurs. On or before Friday, 26th of February 2021, we will see this service return to optimal capacity after implementing the system upgrades. We are also very concerned about the potential fraud that can happen as everyone is in a panic state to liquidate their assets and get an instant cash value. We advise that our customers observe the highest levels of security when conducting external trades.

“As earlier mentioned, we have plans to roll out other solutions that would make the experience of our customers more effortless than ever. On or before Friday, February 26, 2021, we will unveil the new entity responsible for our Gift cards, Refill & Airtime2Cash services; we would be decentralizing the ecosystem and ensuring other services we render are no longer affected by this policy. They can continue to enjoy the trusted services they have come to know and love. We guarantee improvement on the level of service our customers have come to know and will continuously improve on our commitment and promise.

“We take full responsibility for our customers’ challenges with the beta testing of the P2P withdrawal method. We are reassuring them that we are fully committed to fulfilling our promises to our customers, and we want you to trust us as you have done over the years, we are working hard and fast to ensure all of these challenges are of distant memories.

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