About Peers Exchange
PEers EXchange (PEEX) is an international peer-to-peer (P2P) currency exchange and payment platform. Our users, called PEEXers, are paired up strategically to help them avoid expensive fees from banks and other money transfer operators.
With 35 billion remittance transfers every year, the 30 million african migrant workers worldwide lose a total of $2.5 billion just to support their families back home. We primarily work in Africa, so for example, we will match someone sending USD to Cameroon with someone sending Central African CFA francs to America. PEEX is the ﬁrst P2P exchange service in Africa. We allow our users to send money abroad and exchange at the mid-market rate. In many cases,
Peers Exchange can bring down these rates by 11 percentage points, meaning PEEXers only lose 1% of their payments instead of the typical 12% across Africa. A trial run was conducted through social networks in which the equivalent of $800,000 USD was exchanged in less than 1 year. This solidiﬁed the demand for a service like this.
Up next: A user beta test free of charge in Cameroon is ongoing using our mobile application . After the pilot, our ofﬁcial launch will be in Nigeria. Once we’ve established ourselves there, we will expand to Africa and worlwide