Onafriq, Africa’s largest payments network, has partnered with leading stablecoin infrastructure provider, Privy, to strengthen its digital asset infrastructure and drive the development of stablecoin-enabled payment services for businesses across its network.
The partnership will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross chain stablecoin transfers, and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Moving money between African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles. As demand for faster alternatives rises among payments companies and financial institutions, stablecoins offer a viable avenue to eliminate these delays and unlock liquidity.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators. This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
“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 payment ecosystem benefits securely and in line with regulatory frameworks.”
Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“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,” said Henri Stern, Co-Founder and Chief Executive Officer of Privy. “Working with Onafriq allows us to help build that foundation across Africa and beyond.”
The partnership will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services. It reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
