Noah today announced a new partnership with Moneco, a fast-growing payments platform focused on Francophone Africa, to provide virtual EUR accounts for its users. The collaboration enables consumers in Algeria, France, Benin, Cameroon, and Côte d’Ivoire to seamlessly receive cross-border payroll and remittances in EUR, using named accounts powered by Noah’s infrastructure.
Through Noah’s Virtual Accounts product, Moneco users will receive** dedicated EUR IBANs in their own name**. This allows individuals to receive international transfers directly, without intermediaries or pooled accounts, ensuring greater transparency, compliance, and trust. Once funds are received, they can be instantly settled and accessed through the Moneco platform.
Compliance is handled under a Reliance Model. This means that Moneco conducts the KYC/AML checks directly with its users, while Noah performs ongoing monitoring and may request full KYC packs during spot checks. This structure allows Moneco to retain ownership of the KYC process while still benefiting from Noah’s regulated infrastructure. The result is faster onboarding, seamless programmatic customer uploads, and reduced licensing burden for Moneco.
The opportunity is significant. Remittance inflows into Africa reached USD 92.2 billion in 2024 according to the World Bank. Fees remain high, with average remittance costs around 6-8%, and local disbursement via some rails costing up to 5-10%. Moneco’s pricing model —** 1% for on-ramps and off-ramps via SEPA, and 3% via local rails** - represents savings of up to 70% compared to traditional methods.
Moneco already has over 50,000 sign-ups and several thousand active users, but its addressable market spans millions of consumers across Francophone Africa.
Africa’s digital economy is expanding rapidly, projected to reach USD 180 billion by 2025 and up to USD 712 billion by 2050. At the same time, the freelance and gig economy is growing fast, with global companies increasingly hiring African talent for remote roles. Youth unemployment remains a major challenge, and demand for digital skills is accelerating; by 2030, a large share of jobs in Francophone Africa will require at least basic digital literacy. Improvements in broadband and mobile internet infrastructure are further driving this shift, making remote work, digital payments, and virtual accounts more feasible than ever before. Against this backdrop, access to affordable, transparent EUR accounts represents a powerful enabler for workers, freelancers, and families across the region.
“With Noah’s infrastructure, we can now offer our users access to transparent and instant EUR accounts,” said Shams Radjabaly. “This partnership gives our community in Francophone Africa a simpler and cheaper way to move money internationally - whether for salaries, remittances, or digital commerce.”
Shah Ramezani, CEO of Noah, added:
“Our mission at Noah is to set money free, and this partnership with Moneco takes us a step closer. By combining Moneco’s reach across Francophone Africa with our compliant, transparent, and instant infrastructure, we’re unlocking affordable access to global payments for millions.”