The partnership will enable Onafriq to create and manage embedded digital asset solutions for its partners and, eventually, institutional clients in markets where regulations permit.
Onafriq, Africa’s largest payments network, has partnered with leading stablecoin infrastructure provider Privy to strengthen its digital asset infrastructure and accelerate the development of stablecoin-enabled payment services for businesses across its network.
The partnership will enable Onafriq to create and manage embedded digital asset solutions for its partners and, eventually, institutional clients in markets where regulations permit. The initial phase of the collaboration will focus on cross-chain stablecoin transfers, treasury management and settlement workflows, laying the groundwork for future cross-border payment and liquidity solutions.
The companies said the move addresses longstanding challenges in Africa’s payment landscape, where transferring money across markets remains slow and fragmented due to reliance on multiple intermediaries and lengthy settlement cycles. With demand growing for faster and more efficient payment options among financial institutions and payment providers, stablecoins are increasingly being viewed as a solution to improve settlement speed and unlock liquidity.
By integrating Privy’s secure infrastructure, Onafriq will build the capabilities needed to support a new generation of digital payment services for banks, fintechs and mobile money operators. The initiative also forms part of Onafriq’s broader strategy to modernise pan-African payment infrastructure through secure multi-modal wallets and more efficient movement of value across the continent.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks.”
– Luke Kyohere, Group Chief Product and Innovation Officer, Onafriq
Onafriq selected Privy for its enterprise-grade infrastructure, which will enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval. The infrastructure is designed to simplify the user experience while abstracting the complexity of blockchain technology.
“Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
– Henri Stern, Co-Founder and Chief Executive Officer, Privy
Looking ahead, the partnership is expected to support additional institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services. The collaboration underscores Onafriq’s commitment to advancing Africa’s digital transformation by investing in technologies that make financial services more efficient, connected and accessible.
