Onafriq Teams with Privy for Stablecoin-Powered Payments Across Africa

African digital payments network Onafriq has partnered with stablecoin infrastructure provider Privy to develop stablecoin-enabled crypto payment services across its network. The initial phase of the partnership will focus on cross-chain stablecoin transfers, and treasury and settlement workflows.

The integration aims to create a foundation for future cross-border payment and liquidity solutions, addressing the slow and fragmented process of moving money between African markets. According to Onafriq, stablecoins can eliminate delays by providing a viable alternative to traditional payment methods.

Luke Kyohere, group chief product and innovation officer at Onafriq, stated that Privy's secure infrastructure enables it to build the capabilities required for efficient digital payment services. He noted that the tie-up is a key component of its broader strategy to boost pan-African payment infrastructure.