Onafriq has partnered with Conduit to incorporate stablecoin infrastructure into its cross-border payment operations across the African continent.
This collaboration is anticipated to facilitate Onafriq’s use of Conduit’s platform for onboarding payments in USDC, managing global treasury activities via stablecoins, and executing same-day settlements into multiple markets.
Advancing stablecoin infrastructure in Africa
In accordance with the official press release, this partnership aims to extend Conduit’s footprint in Africa by linking its stablecoin network with Onafriq’s existing payment networks. This integration is designed to offer merchants access to local payment methods while promoting the adoption of digital and stablecoin-based payment systems across the region.
Moreover, Onafriq plans to leverage this infrastructure to handle payments more efficiently compared to traditional correspondent banking arrangements. The company notes a rising demand for stablecoin payment flows and views such technology as instrumental in supporting its strategy of enabling real-time, interoperable transactions across African currencies. Both organizations will continue to focus on satisfying the needs, preferences, and demands of clients while ensuring compliance with local regulatory requirements.
This collaboration addresses operational challenges associated with cross-border treasury management in regions where traditional banking infrastructure has historically faced limitations in terms of speed and accessibility. Stablecoins, being digital assets pegged to fiat currencies, offer programmable payment functionalities and near-instant settlement capabilities compared to conventional correspondent banking networks.
Furthermore, the partnership aligns with a trend of increased stablecoin adoption in African markets, where digital payment infrastructure has seen rapid development over the past decade. Onafriq’s network encompasses countries where mobile money services have become primary financial tools, and integrating stablecoin rails is intended to augment these existing systems with enhanced cross-border settlement functionality.
