Ashcrest Technologies, a Nigerian company, has launched Peppy Wallet, a custodial wallet that holds naira, the USDT stablecoin, ETH and TRX in one account. The company introduced the wallet publicly on 3 November in a post on its website and in another on its X account, @usepeppy, which described Peppy as “one wallet for all your money: stablecoins, crypto and naira.”
Peppy runs in a web browser at app.peppyworld.lat. The company says an iPhone app is on its way; it is not yet in the App Store. According to its terms, Ashcrest Technologies owns and operates the wallet, and customers must be 18 or older.
Five balances in one account#
A Peppy account holds five balances, according to the company: naira, USDT on Tron (TRC-20), USDT on Ethereum (ERC-20), ETH and TRX. The company says the app names the network at every step, and the wallet page adds the balances up into one estimated total in USD.
For naira, the company says customers get a personal account number that anyone can pay into from a Nigerian bank. Naira receiving accounts are currently open to residents of Nigeria. Customers can also send naira to Nigerian bank accounts: the bank confirms the account name before the customer pays, and a transfer fee is shown before the customer confirms.
What it charges#
Peppy charges its own fee when USDT, ETH or TRX is sent to an address outside Peppy: 0.5% of the amount, at least $0.50, taken in the coin being sent and added on top, so the recipient gets the full amount, according to the company’s fees page and terms. The blockchain’s network fee is separate. The terms say it goes to the network, not to Peppy, and the customer pays it from their own TRX on Tron or ETH on Ethereum.
The company says a review screen shows what the recipient receives, Peppy’s fee, the network fee and the total before a send goes out, and that every send needs the customer’s four-digit PIN. It also says opening an account, holding money and creating a receiving address are free.
Who holds the keys#
Peppy is custodial. Its terms say the company holds balances for customers and keeps the keys that control their crypto addresses. Its security page says those keys sit in a separate signing service, apart from the website, which signs only transfers the customer has approved. The company says repeated wrong PIN entries lock the PIN, and that resetting a PIN or recovering a password puts a temporary hold on withdrawals.
Locks, payment requests and payroll#
According to the company, the app has three more features. Save & lock sets part of a USDT balance, on Tron or Ethereum, or an ETH balance aside for one, three, six or 12 months. The locked amount stays in the wallet but cannot be sent until the unlock date, when it goes back into the balance on its own. A lock adds nothing to the amount, and ending one early costs 2% of the locked amount, the terms say.
Payment requests create a one-time naira payment link, valid for seven days, which the customer shares themselves; Peppy does not email or message the payer. The payer does not need a Peppy account and pays by bank transfer on a secure checkout, and confirmed funds go into the customer’s naira wallet.
Payroll lets a customer load a separate naira balance and pay several people’s bank accounts from it in one go.
The risks the company lists#
The company’s terms say Peppy is not a bank, and that balances held with it are not bank deposits and are not covered by any deposit insurance scheme. Crypto transfers cannot be reversed once the network confirms them. Its security page adds that stablecoins carry their own risks: a stablecoin can lose its dollar value, and its issuer can restrict tokens.
The market it enters#
Peppy arrives as cross-border stablecoin transfers in the region rise. In a report published on 29 October, the blockchain analytics firm Chainalysis said Sub-Saharan Africa’s crypto economy grew 13.4% to $101 billion between July 2025 and June 2026, with Nigeria’s at $38.1 billion, down 3% on the year. It said stablecoin remittance value in the region more than doubled in a year, from $235 million to $492 million.
What we could not verify#
- Afrobeats Wire did not test sends, bank transfers, locks, payment requests or payroll. The descriptions here come from the company’s own website, terms and app.
- Afrobeats Wire has not audited how customer funds or keys are held, and relies on the company’s own description of its signing service.
- The company has not published user numbers or transaction volumes.
