Paj Cash crosses $1M
Paj Cash has crossed $1M in retail cashout volume. At a $21 average ticket it has the smallest cashout of any venue we track — and 96.6% of it is funded straight from users' own wallets.
- $1.04M
- Lifetime cashout volume
- $21
- Average cashout
- 48,868
- Cashouts
- 96.6%
- Funded from users' own wallets
$7K to $1M in six quarters
smallest ticket we track
16.6 per wallet
self-custody, not exchange flow
A Solana-native Nigerian crypto-to-naira offramp that went from $7K to $1.04M in six quarters, March 2025 to June 2026, moved by 2,477 wallets. 82% USDC, 100% on Solana.
The usage profile is the story. At a $21 average cashout — $28 median — Paj Cash has the smallest ticket of any venue in our coverage, roughly half the next-smallest. That's 48,868 cashouts across 2,477 wallets, about 16.6 per wallet. Small tickets, high frequency.
And 96.6% of that volume is funded straight from users' own wallets — self-custody, not exchange flow. That combination is unusual. Most offramp volume arrives from an exchange withdrawal; this arrives from people who were already holding their own keys. Grassroots retail cashing out.
Method
Retail cashout volume traced from verified Paj Cash addresses on Solana, Mar 2025 to Jul 2026, in USDC and USDT. Cashout-side only — excludes naira payouts and all off-chain activity. Funding source is classified by the counterparty that sent each cashout: 'own wallet' means a self-custodied address rather than a labelled exchange or venue address. Ticket-size comparison covers the venues in coverage at the time of measurement.
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AfriFlux (2026). Paj Cash crosses $1M. Published 13 July 2026. https://www.afriflux.xyz/feed/paj-cash-crosses-1m
Reproducing a chart? Use this line: Source: AfriFlux — on-chain intelligence for Africa's stablecoin economy. afriflux.xyz