How the Greengate multi-currency wallet actually works
Hold dollars, pounds, euros and naira in the same app. Here's the mechanics of how balances are held, converted, and what it means for your money.
Tunde Adeyemi
Head of Product · 23 June 2026
One of the most common questions we get from new users is: "What does it mean to 'hold' dollars in Greengate?" It's a fair question. Let us be precise.
When you deposit USD into your Greengate account, those funds are held in a segregated client money account denominated in USD. We don't convert them to naira and hold the naira equivalent. You hold dollars — until you decide to convert.
This means you benefit (or are exposed to) movements in the USD/NGN rate. If the dollar strengthens, your naira purchasing power increases. If it weakens, it decreases. You're not locked in to naira exposure just because your family is based in Nigeria.
Converting is real-time. When you decide to swap — either to send home or to take advantage of a good rate — the conversion happens at the live mid-market rate plus our flat fee. There's no spread built into the conversion. The rate you see on Google is the rate we use.
Currently supported currencies include USD, GBP, EUR, NGN, GHS, and several stablecoins (USDT, USDC, BTC, ETH). We're expanding the fiat list through 2026. The wallet is designed to grow with where Africans actually live and bank — not just the obvious corridors.