Stablecoins gain global traction for their role in transforming cross-border payments, Lipaworld is helping bring this technology into everyday use across Africa.
The venture-backed fintech platform has entered the South African market to support freelancers, immigrants, and informal businesses with faster, safer alternatives to conventional banking and remittance systems.
Unlike speculative crypto products, stablecoins such as USDC are designed for stability, pegged to the US dollar, and increasingly regulated across multiple jurisdictions.
USDC is a stablecoin issued by Circle, the now NYC stock exchange-listed company. As a Circle alliance partner, Lipaworld leverages this infrastructure to create financial access tools that are simpler, cheaper, and more transparent, especially for those operating outside the formal economy.
With more than $2 trillion in stablecoin transactions processed globally last year, these digital currencies are quickly becoming the backbone of global value exchange. In Sub-Saharan Africa, where remittance fees still average 7.9% to send $200, the need for low-cost, high-speed financial tools is urgent and growing.
Founded by African entrepreneur and Western Union Foundation Fellow, Jonathan Katende, Lipaworld is built on lived experience.
Born in the Democratic Republic of Congo (DRC) and raised in South Africa, Katende knows firsthand how difficult it is to move money across borders affordably and with dignity.
“We are not here to hype crypto. We are here to offer real financial access to people who have been overlooked or underserved by traditional systems,” says Katende, now based in the United States. “Stablecoins are not a fad. They are a regulated, reliable way for people to take control of their finances, build economic resilience, and participate fully in the modern economy.”
A simpler, safer alternative
At its core, Lipaworld allows users to earn dollarised income with a virtual bank account, send funds using stablecoins back home, and spend their stablecoins in its marketplace for local products using USDC.
By bypassing high fees, FX markups, and third-party hold-ups, the platform puts users in control of their funds through a self-custodial wallet that operates much like a familiar money app.
“Our UX is intentionally simple. We hide the complexity so people can just get on with their lives. Behind the scenes, we are using stablecoin wallets, but the experience is no different than a familiar money transfer or payment app, except it works better,” says Katende.
Built for South Africa’s informal economy
South Africa’s informal sector remains largely excluded from formal finance. Freelancers often wait days to receive international payments. Immigrants pay exorbitant fees to send money home. Small businesses struggle to operate digitally or access credit.
Lipaworld aims to solve this and eventually evolve into a full ecosystem that includes credit offerings and merchant tools. For instance, a freelance graphic designer in Cape Town can now invoice in digital dollars, get paid in minutes, and send value to family in Zimbabwe without touching a bank.
“When we talk about financial inclusion, we cannot stop at opening a bank account. If people are withdrawing everything at the ATM at the end of the month and avoiding transaction fees, the system is broken. We see a leapfrogging opportunity to build something that works better from the ground up using stablecoins,” says Katende.
Regulatory commitment
In a space often clouded by hype and confusion, Lipaworld is committed to transparency and regulatory alignment. The company partners with licensed Payment Service Providers (PSPs) in each market it operates in and remains deeply engaged with policymakers to ensure innovation supports, rather than circumvents, regulatory priorities.
“We are pro-regulation. We do not believe in working around the rules. Instead, we believe in working with them. But innovation needs air to breathe. We want to help regulators see stablecoins as safe, useful, and aligned with the public good,” he concludes.
