Africa's Largest Payments Network Taps USDC Stablecoin to Cut Cross-Border Fees

Onafriq, Africa's largest payments network, is expanding its use of the USDC stablecoin to facilitate faster and cheaper cross-border transactions across over 40 African markets.

The company aims to bypass the costly and slow correspondent banking system that currently causes $5 billion in annual fees on intra-African transactions.

By integrating Circle's USDC via API, Onafriq reduced the rollout time from six months to just six weeks, enabling banks, fintechs, and mobile money operators to settle payments more efficiently without overhauling existing systems.