Blockops Network Powers Stablecoin Operations for Fintechs in Underserved African Corridors
Nigerian startup Blockops Network is developing OnchainStacks to facilitate stablecoin transactions for fintech companies, payment service providers, banks, and remittance services.
The platform aims to simplify complex infrastructure requirements for businesses to use stablecoins in production, including managing wallets, liquidity, ramps, payout providers, compliance, treasury, monitoring, and reconciliation.
According to Adedayo Akinpelu, founder and CEO of Blockops, a significant bottleneck exists in the African cross-border payment market, where many corridors lack automated routing, forcing companies to rely on manual settlement methods that are slow and costly.
OnchainStacks has integrated a routing engine that can dynamically route transactions across stablecoin rails, banking rails, and mobile money on underserved corridors, potentially reducing transaction times from three days to one day at a fraction of the typical remittance cost.