Onafriq Teams with Privy to Boost Stablecoin Payments Across Africa

African digital payments network Onafriq is teaming up with stablecoin infrastructure provider Privy to develop more efficient crypto payment services across its 43-market strong network.

The partnership's initial phase will focus on enabling cross-chain stablecoin transfers, treasury and settlement workflows, which are crucial for the development of future cross-border payments and liquidity solutions.

Stablecoins offer a viable alternative to traditional payment methods by providing fast, low-cost transactions with reduced volatility compared to cryptocurrencies like Bitcoin. According to Absa, stablecoin transactions surpassed US$34 trillion globally in 2025, with Africa being the fastest-growing market for stablecoin ownership.

Onafriq emphasizes that its stablecoin infrastructure will comply with all regulatory requirements in the markets where it operates, which means service availability is subject to regulatory approval. The partnership aims to provide a secure foundation for digital payments across Africa and beyond.