Onafriq has partnered with digital asset infrastructure provider Privy to expand stablecoin payments across Africa. The deal embeds Privy’s infrastructure into Onafriq’s ecosystem and adds stablecoin capabilities for businesses across its network.
Phase one focuses on cross-chain stablecoin transfers, treasury optimization and settlement — setting up faster cross-border transactions and better liquidity management across African markets.
Cross-border payments in Africa have long been slowed by fragmented systems, multiple intermediaries and slow settlement. As businesses hunt for faster, cheaper options, stablecoins are stepping in to cut delays and improve liquidity.
Through Privy’s infrastructure, Onafriq gives banks, fintechs and mobile money operators the tools to run blockchain-based payments without the technical complexity. Onafriq chose Privy for its enterprise-grade wallet infrastructure, which lets businesses embed digital asset wallets into existing products. The partnership is expected to support further institutional uses, including stablecoin settlement, treasury management and liquidity services.
Luke Kyohere, Onafriq’s Group Chief Product and Innovation Officer, said the company keeps investing in technologies that improve payment efficiency across Africa, and that Privy’s infrastructure will speed up settlement and liquidity management while positioning Onafriq to meet demand for digital asset services where regulations permit.
Privy co-founder and CEO Henri Stern said secure, scalable infrastructure is critical to mainstream stablecoin adoption, and the partnership is a chance to build the technology behind digital payment innovation in Africa and beyond.