Onafriq has announced a strategic partnership with digital asset infrastructure provider Privy to advance the adoption of stablecoin-powered payment services across Africa, marking another step in the continent’s evolving cross-border payments landscape.
The partnership will feature Privy’s digital asset infrastructure into Onafriq’s payment ecosystem while enabling the development of embedded stablecoin capabilities for businesses operating across its network.
The first phase of the partnership will focus on strengthening cross-chain stablecoin transfers while optimizing treasury operations and settlement processes. These capabilities are expected to lay the groundwork for faster cross-border transactions and efficient liquidity management across African markets.
For years cross – border payments in Africa have been impeded by fragmented financial systems, multiple intermediaries and lengthy settlement times. However, as businesses and financial institutions increasingly seek faster and more cost-effective payment methods, stablecoins are emerging as a potential solution to minimize transaction delays and improve access to liquidity.
By integrating Privy’s infrastructure, Onafriq aims to strengthen its digital payments ecosystem and provide banks, fintech firms and mobile money operators with the tools needed to support blockchain-based payment services without exposing users to the technical complexity of the underlying technology.
Luke Kyohere, Onafriq’s Group Chief Product and Innovation Officer, said the company continues to invest in technologies that improve payment efficiency across Africa.
He noted that incorporating Privy’s infrastructure would improve settlement speeds and liquidity management while positioning the company to meet growing demand for digital asset services in markets where regulations permit.
Privy co-founder and Chief Executive Officer Henri Stern said secure and scalable infrastructure will be critical to driving mainstream adoption of stablecoins in global payments.
He said the partnership with Onafriq provides an opportunity to build the underlying technology needed to support digital payment innovation across Africa and other international markets.
However, Onafriq selected Privy for its enterprise-grade wallet infrastructure, which is designed to allow businesses to integrate digital asset wallets into existing products while simplifying the user experience and reducing the technical barriers associated with blockchain technology.
Moving forward, the collaboration is expected to support additional institutional applications, including stablecoin-based settlement, treasury management and liquidity services. The initiative forms part of Onafriq’s broader strategy to modernize Africa’s payment infrastructure through technologies that enable faster, connected and efficient financial services.
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