FAQs

What is Shiga?

Shiga Digital is leading the way in creating a cutting-edge blockchain-based bank with a special focus on Pan Africa. Say goodbye to traditional finance and hello to the new era of financial empowerment for Pan-Africa!

We’re building the core components to redefine the financial landscape, providing liquidity through stablecoins, seamless payments, and access to real-world assets. Our self-custodial wallets will empower you to take control of your assets like never before.

Shiga is paving the way for the next wave of enterprises and individuals seeking innovative financial services. Get ready to join the movement!

Why did we build Shiga?

Blockchain-based finance has the potential to transform access to finance, with a handful of companies already leading this revolution. However, to make this work for the benefit of all and truly achieve scale, we need to fix the disconnect between the current system and the immaturity of the new system. Shiga is driving towards a future where both systems coexist harmoniously, bringing the best of both worlds to businesses, banks, and payment providers.

Is Shiga regulated?

Shiga’s VASP is registered in the Czech Republic, which enables Shiga to engage in digital asset services in Europe. Specifically, this includes the intermediation of trade and services, wholesale and retail trade, software provision, information technology consultancy, data processing, hosting and related activities, web portals, and virtual asset services.

What exactly are stablecoins?

Stablecoins are digital currencies designed to provide stability. They are pegged to stable assets like the US dollar and backed by equivalent US Treasuries reserves. Issued by regulated entities such as Circle or Coinbase, stablecoins combine cryptocurrencies’ advantages with traditional currencies’ stability.

What is a self-custody wallet?

Non-custodial means that you’re always in control. Unlike traditional banks, Shiga never has unilateral access to your funds. There’s no rehypothecation without your consent—your assets are yours. Our platform ensures complete transparency and control, setting a new financial freedom and security standard.

How long does it take for transactions to process?

We aim to make every Shiga Powered transaction feel instant. Most portal transactions are processed in less than five minutes using your Shiga portals. Shiga uses blockchain technology to process all orders instantly (sending them for clearing immediately). Transaction times may vary depending on local banking processing times.

Does Shiga have a mobile application?

Almost done 😃

How can I contact Shiga?

We would appreciate any feedback you have, as it will assist us in improving our product for you. You can share your feedback with us in the app, tweet, or message us on our Slack community channel. If you have questions about the Shiga app or a transaction, you can chat with us in the app or email us at help@shiga.io. If you have additional questions, chat with us using the application.

How do I receive stablecoins (Portal In)?

To access stablecoins, follow these steps: 1. Sign in to the portal and click “Buy stablecoin on the embedded calculator.” 2. Connect your bank account to your virtual bank account. 3. Nominate your stablecoin wallet. 4. Transfer your funds to your named account. 5. Receive stablecoin in your nominated stablecoin wallet.

How do I receive local currency (Portal Out)?

To receive currency in your bank account, you must connect your receiving bank account to your stablecoin wallet portal. Transfer stablecoins to your stablecoin wallet portal and your local currency will be promptly deposited into your bank account through a virtual bank account in your name.

Can my funds get stuck in my portal out of my stablecoin wallet?

The funds will beheld there only if:Please take note of the following:a) If the sender’s wallet has been exposed to questionable activities, an alert may beraised, and the transaction may or may not be approved, depending on the severity of theexposure.b) In the rare event of a blockchain hiccup, the Shiga team will intervene manually.c) If an unsupported asset, such as ETH, Matic, BNB, etc., is sent, a refund may beissued based on best efforts.

What are the benefits of using Shiga as a crypto-native blockchain bank?

Shiga offers portability, allowing you to export your wallet to other providers like Phantom Wallet and your money and transaction history. Shiga’s wallets are self-custody in nature and are supported on various blockchains. This approach enables Shiga to provide a superior product at a lower cost and higher speed than others.

What is the blockchain?

The Blockchain is not owned or controlled by a single organisation or entity. Instead, it is maintained by a group of companies and individuals known as “validators” who help operate the network. Solana is an excellent example of a fast and efficient blockchain, where most transactions are completed in just a second or two and cost a tiny fraction of a penny. In contrast, traditional methods like SWIFT can charge up to $20 per transaction and take several days to process. Solana also provides Shiga users with self-custody, giving them complete control over their wallets and contents. This feature is a significant advantage over traditional financial products.

Can I use Shiga along with my existing bank?

Absolutely. Many of our clients use Shiga with traditional banking to reduce institutional risk. Here’s why Shiga stands out: 1. Non-custodial: You always have complete control over your assets. 2. Flexible Transfer Options: Send and receive payments via Faster Payments (GBP), SEPA & Standard SEPA (EUR), ACH, or wire transfers (USD). 3. Stablecoin Security: Your deposits, converted into stablecoins, aren’t listed as liabilities on any bank’s balance sheet.

What payment method does shiga support?

At the moment, you can send money to your target stablecoin wallet in GBP/EUR/USD using Bank transfers via Faster Payments, SEPA Standard, SEPA Instant, ACH or Fedwire in the countries we support (Link to supported countries)

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