Onafriq, a payments gateway, and Circle, a stablecoin market leader and issuer of USDC, have announced a partnership to transform cross-border payments and digital financial services.
This collaboration marks a step towards compliantly leveraging stablecoins and blockchain infrastructure to boost Onafriq’s payment network. Dare Okoudjou, founder of Onafriq, said, “Our partnership with Circle is an important milestone, reinforcing Onafriq’s commitment to harnessing technology to remove complexity from cross-border payments.
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“By integrating USDC, we aim to simplify financial transactions for institutions and individuals, reduce costs, and strengthen trust. This collaboration underscores our vision to democratise access to payments and drive financial inclusion across the globe. We are not just envisioning the future of payments – we are actively building it.”
Miriam Kiwan, vice president, Middle East and Africa at Circle, said, “The emerging markets that Onafriq serves hold tremendous potential for digital asset innovation, particularly in the adoption of stablecoins for cross-border payments.
“Our partnership with Onafriq aligns perfectly with Circle’s mission to promote financial inclusion and improve efficiency in areas where traditional banking has often been costly and inaccessible. Together, we aim to transform how money moves across borders, offering secure and transparent digital payment rails that enhance economic empowerment and connectivity.”
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This collaboration signals a new phase in the modernisation of African payment rails, one where blockchain technology is applied responsibly, in lockstep with regulators and financial institutions, to build a faster, more efficient, and economically empowering future for the continent.
Currently, over 80 percent of intra-African payments are routed through correspondent banks outside the continent and settled in foreign currencies such as the US dollar or the Euro.
