Onafriq, an African fintech that operates throughout 40 international locations on the continent, has partnered with Conduit, a cross-border funds agency that makes use of blockchain-based greenback tokens, in an alliance that can change how Onafriq manages liquidity and pays companions overseas.
Introduced in Nairobi on Tuesday, the settlement permits Onafriq to make use of stablecoins similar to United States greenback coin (USDC) to fund accounts, rebalance treasury holdings and make payouts in markets the place conventional financial institution transfers take a number of days.
The transfer goals to chop the time and value of shifting funds throughout currencies and jurisdictions. Onafriq handles rising cross-border volumes for banks, cell cash operators, and retailers, although it declined to reveal its annual fee quantity.
The partnership provides to a run of African fintechs adopting stablecoins as backend settlement rails. Companies are utilizing dollar-pegged tokens to maneuver funds throughout borders quicker, handle liquidity and reduce reliance on correspondent banks.
“Onafriq is a worldwide poster youngster for the impression a fintech can have in a creating market, providing quick, dependable, and accessible cash motion in Africa, which has not been served properly by conventional banking choices,” stated Kirill Gertman, founder and CEO of Conduit.
Stablecoins, designed to take care of parity with the US greenback, are gaining floor in elements of Africa with restricted entry to international change and few correspondent banking hyperlinks. Cost companies are primarily testing them as backend settlement instruments slightly than client merchandise.
The primary software will centre on treasury operations, the place Conduit will assist Onafriq convert USDC into US {dollars} by means of off-ramp channels as the businesses consider how stablecoins can assist international liquidity administration.
Conduit stated in an announcement on Tuesday that demand from African purchasers has risen sharply, with the variety of clients on the continent utilizing its platform rising 80% between the third and fourth quarters of 2025. The agency launched its stablecoin-based cross-border product in 2023.
“Conduit’s infrastructure will assist us transfer towards streamlining our international treasury administration by means of stablecoins and drive quicker payouts for our clients,” stated Onafriq’s Group Chief Product and Innovation Officer, Luke Khohere.
For Onafriq, based in 2010, the partnership provides a brand new functionality to a community that already handles cross-border transfers, collections, card companies, agent banking and international change. The corporate acts as a crucial middleman between native fee techniques throughout the continent.
The businesses contend their mannequin gives a definite price benefit over conventional correspondent banking. Cross-border transfers routed by means of the SWIFT community typically cross by means of a number of middleman banks, every charging charges and creating opacity.
Stablecoin transactions incur a single charge from the supplier and allow clearer monitoring of funds throughout processing.
This partnership arrives as fee corporations throughout the globe actively search alternate options to SWIFT-based transfers, which may contain a number of intermediaries, compliance checks and delays. Stablecoin networks promise near-real-time settlement, although they nonetheless require native banking companions to maneuver cash out and in of home monetary techniques.
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