By Prince Osuagwu, Hi-Tech Editor
Financial technology platform, Dtunes, is rebranding as Swapto, as it moves to expand its services from just a cash-out platform to broader multi-currency management for Nigerians and businesses.
The company, which says it has served hundreds of thousands of Nigerian users, explained that the new name reflects its evolving focus on giving customers greater control over how they hold, swap and use their money.
For existing customers, Swapto said the rebranding would not disrupt transactions. The Dtunes app will automatically update to Swapto, with users’ accounts, balances and transaction history carried over seamlessly.
Nigeria’s rising on-chain value
According to Dotun Oyetade, Founder and CEO of Swapto, naira depreciation since 2021, and the growth of remote work, have pushed more Nigerians to hold value in foreign currencies, while many others increasingly earn through crypto.
Nigeria ranked sixth in the 2025 Chainalysis Global Crypto Adoption Index, with the country estimated to have received more than $92.1 billion in on-chain value between July 2024 and June 2025 — the highest in sub-Saharan Africa.
The trend is also reflected in the broader digital-asset market. Yellow Card’s 2025 Africa report estimated that Nigeria had about 25.9 million digital-asset users in 2025, representing 11.9 per cent penetration.
Oyetade said having money in one place does not always mean users can deploy it as they wish, with many still relying on conversions, third-party vendors and peer-to-peer transactions to move money.
The Swapto answer
Explaining the new platform, Oyetade said Swapto is built around giving users greater control over their digital assets and transactions.
“At Swapto, customers can hold their crypto and choose when to swap it to naira, with user assets held in custody by a digital asset custodian. Those who prefer automation can switch on AutoSell.
“After swapping, they can pay for airtime, data and bills without leaving the platform,” he said.
“For me, that means we consider a customer being in control of his or her money as default, not a feature. The freedom to hold it, when to move it, what to swap it into, resides with the user.”
Why the rebrand?
Oyetade said Dtunes was launched in 2021 primarily to help users convert crypto to naira, but the platform has since evolved after completing more than 500,000 swaps across Nigeria.
He said feedback from customers showed that they wanted more than a cash-out platform.
“Dtunes taught us that the way people move money is changing, and that we have to keep changing with them.
“We discovered people weren’t only looking for a way to cash out. They wanted to decide when to move their money, how to use it, and where it goes next.
“The name Dtunes belonged to the beginning of that story. Swapto gives us room to build for where people are going, not just where they are today.”
Building borderless money
Oyetade said the rebranding would not change the company’s core operations but would provide room to expand into broader financial services.
“We see Swapto becoming a place where people and businesses can move between currencies, manage their money and use it for the things they need, whether that is bills today or cards and everyday payments down the line, without jumping between platforms,” he said.
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