Onafriq has partnered with stablecoin infrastructure provider Privy to strengthen its digital asset infrastructure as it works to make cross-border payments faster for businesses across Africa.
The partnership will allow Onafriq to build and manage digital asset services for its partners and, over time, institutional clients in markets where regulations permit.
The first stage of the collaboration will focus on cross-chain stablecoin transfers, treasury operations and settlement processes, laying the groundwork for cross-border payment and liquidity services.
Cross-border payments within Africa still rely on multiple intermediaries, making transactions slower and tying up capital for longer than necessary.
Onafriq believes stablecoins can help reduce those delays by allowing businesses to settle transactions more efficiently.
In using Privy’s infrastructure, the company plans to introduce digital payment services that banks, fintechs and mobile money operators can integrate into their existing platforms.
It also intends to support secure multi-modal digital wallets as part of its effort to modernise payment infrastructure across the continent.
Luke Kyohere, group chief product and innovation officer at Onafriq, said the company sees digital asset technology as another step towards improving payment services.
“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.”
Onafriq said it selected Privy because its enterprise-grade infrastructure can support digital asset wallet capabilities while keeping the underlying blockchain technology largely invisible to users. Any rollout will remain subject to regulatory approval in the countries where the services are introduced.
Henri Stern, co-founder and CEO of Privy, said reliable infrastructure will be essential as businesses increasingly adopt stablecoins for 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.”
The companies also plan to support additional institutional services in future, including stablecoin-based settlement, treasury management and liquidity solutions.
The agreement aligns with the current focus among African payment providers towards stablecoin infrastructure as they look for faster ways to move money across borders.
Rather than positioning stablecoins as investment products, companies are using the technology to improve payment processing, settlement speed and liquidity management for businesses.
Onafriq already operates one of Africa’s largest payment networks, connecting nearly one billion mobile wallets and more than 500 million bank accounts across 43 African markets.
The latest partnership expands its focus beyond traditional payment switching into digital asset infrastructure designed for banks, fintechs and other financial institutions.
