Onafriq Teams Up with Privy for Stablecoin-Enabled Cross-Border Payments

African fintech company Onafriq is expanding its digital asset offerings through a partnership with Privy, a crypto wallet provider. This move marks another step by African payments networks to position themselves for regulated cross-border payments using digital assets.

The partnership will allow Onafriq to build stablecoin-enabled payment infrastructure for businesses across its network, initially focusing on cross-chain stablecoin transfers, treasury management, and settlement processes. The services will be rolled out where regulations permit, with the long-term aim of supporting banks, fintechs, mobile money operators, and other institutional clients.

Onafriq's Group Chief Product and Innovation Officer Luke Kyohere said that Privy provides a building block for faster settlement and better liquidity management. He emphasized the importance of ensuring Africa's payment ecosystem benefits securely and in line with regulatory frameworks.