Onafriq, an African fintech that operates across 40 countries on the continent, has partnered with Conduit, a cross-border payments firm that uses blockchain-based dollar tokens, in an alliance that will change how Onafriq manages liquidity and pays partners abroad.
Announced in Nairobi on Tuesday, the agreement enables Onafriq to use stablecoins such as United States dollar coin (USDC) to fund accounts, rebalance treasury holdings and make payouts in markets where traditional bank transfers take several days.
The move aims to cut the time and cost of moving funds across currencies and jurisdictions. Onafriq handles growing cross-border volumes for banks, mobile money operators, and merchants, though it declined to disclose its annual payment volume.
The partnership adds to a run of African fintechs adopting stablecoins as backend settlement rails. Firms are using dollar-pegged tokens to move funds across borders faster, manage liquidity and cut reliance on correspondent banks.
