Onafriq partners with Privy to build a new stablecoin payment infrastructure, enabling faster cross-border settlements and digital asset services across Africa. This collaboration aims to streamline how money moves across the continent by leveraging blockchain technology.
The partnership will enable Onafriq to build and manage embedded digital asset solutions for its partners and, eventually, institutional clients in markets where regulatory frameworks permit. The collaboration is expected to accelerate the development of solutions designed to improve cross-border transactions, treasury management, and settlement processes.
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The companies said the initiative forms part of Onafriq's broader strategy to modernise Africa's financial landscape by enabling faster, more efficient movement of money across multiple markets.
Expanding Stablecoin Payment Infrastructure in Africa
Cross-border payments remain one of Africa's biggest financial challenges, often involving multiple intermediaries, lengthy settlement times, and high transaction costs.
Onafriq and Privy said the initial phase of the partnership will focus on cross-chain transfers, treasury management, and settlement workflows. These capabilities are intended to create the foundation for future payment and liquidity solutions for financial institutions, fintech companies, and payment providers.
As demand grows for faster and more efficient systems, stablecoins are increasingly being explored as a way to reduce settlement delays while improving liquidity management.
Under the agreement, Onafriq will integrate Privy's enterprise-grade technology to support secure digital asset wallet capabilities across its network, subject to regulatory approval.
Building Secure Digital Asset Wallets
The companies said the infrastructure is designed to simplify digital asset management by abstracting the technical complexity of blockchain technology. This allows businesses to adopt stablecoin-based services without significant changes to existing user experiences.
The initiative also supports Onafriq's vision of developing secure, multi-modal wallets capable of supporting traditional and digital financial assets within a unified payments ecosystem.
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"At Onafriq, we keep investing in technology that makes payments faster and more accessible," said Luke Kyohere, Group Chief Product and Innovation Officer at Onafriq. "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 ecosystem benefits securely."
Institutional Adoption of Blockchain Payments
Looking ahead, the companies plan to expand the partnership to support additional institutional applications, including stablecoin-enabled settlement, treasury management, and liquidity services.
Henri Stern, Co-Founder and Chief Executive Officer of Privy, said secure infrastructure will be critical to the mainstream adoption of digital 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," Stern said. "Working with Onafriq allows us to help build that foundation across Africa and beyond."
The partnership reflects growing interest among African financial institutions in leveraging blockchain to modernise systems while operating within evolving regulatory frameworks.
Why the Onafriq Partnership Matters
As digital assets continue to gain institutional acceptance, Onafriq's collaboration with Privy positions the company to support the next generation of cross-border services across Africa. This partnership reflects the growing role of stablecoins in addressing one of the continent's most persistent financial challenges: slow and expensive cross-border payments.
Businesses across the continent often face high transaction costs, multiple intermediaries, currency conversion hurdles, and settlement delays when moving money between African markets. Stablecoin technology offers a potential alternative by enabling faster settlement, improved liquidity, and lower transaction costs.
The collaboration also signals increasing institutional interest in blockchain technology beyond cryptocurrency trading. African banks, fintechs, and payment providers are exploring digital assets as practical financial infrastructure.
For Africa's rapidly expanding digital economy, modernising payment systems is essential to supporting regional trade under the African Continental Free Trade Area (AfCFTA). More efficient settlement systems can help businesses access working capital faster and improve cross-border commerce.
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