Onafriq Africa’s largest payments network, has partnered with stablecoin infrastructure provider, Privy, to strengthen digital asset infrastructure and accelerate the development of stablecoin-enabled payment solutions for businesses across the continent.
The companies said the collaboration would combine Onafriq’s extensive payments network with Privy’s digital asset technology to improve cross-border settlements, treasury management and liquidity services.
According to a statement, the partnership will enable Onafriq to create and manage embedded digital asset solutions for its partners and, where regulations permit, institutional clients.
It said the first phase of the collaboration would focus on cross-chain stablecoin transfers as well as treasury and settlement workflows, laying the foundation for future cross-border payment solutions.
The company noted that cross-border payments within Africa remain slow and fragmented due to reliance on multiple intermediaries and lengthy settlement processes.
It added that the growing demand for faster and more efficient payment systems has increased interest in stablecoins as a means of improving liquidity and reducing transaction delays.
Under the partnership, Privy’s enterprise-grade infrastructure will be integrated into Onafriq’s platform to support secure digital asset wallet capabilities and simplify the use of blockchain technology for financial institutions.
Group Chief Product and Innovation Officer of Onafriq, Mr Luke Kyohere, said the partnership reflects the company’s commitment to investing in technologies that improve payment efficiency across Africa.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible.
“Privy gives us a building block for faster settlement and better liquidity management.
“As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” he said.
Kyohere explained that the initiative would support banks, fintech companies and mobile money operators by enabling faster and more efficient digital payment services.
He said the partnership also aligns with Onafriq’s long-term strategy of modernising Africa’s payments infrastructure through secure multi-modal wallets and seamless movement of value across markets.
Also speaking, Co-Founder and Chief Executive Officer of Privy, Mr Henri Stern, said stablecoins were expected to play a growing role in the future of global payments.
“Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement.
“Working with Onafriq allows us to help build that foundation across Africa and beyond,” he said.
The companies said the collaboration would eventually support a broader range of institutional services, including stablecoin-enabled settlement, treasury management and liquidity solutions.
They added that the partnership reinforces Onafriq’s commitment to driving Africa’s digital transformation by investing in technologies that make financial services more efficient, connected and accessible.
