Onafriq Partners Conduit to Power Cross-Border Payments With Stablecoins

Africa’s push toward blockchain-powered financial infrastructure is gaining momentum. Onafriq, a pan-African fintech operating in over 40 countries, has entered a strategic partnership with cross-border payments firm Conduit to strengthen its international payment operations using stablecoins.

The collaboration signals a growing shift among African financial institutions toward digital settlement infrastructure, particularly for managing liquidity and accelerating cross-border transactions.

A Strategic Shift in Cross-Border Payment Infrastructure

The partnership, announced in Nairobi, will allow Onafriq to use blockchain-based dollar tokens, primarily USD Coin (USDC) to fund accounts, manage treasury balances, and process international payouts in markets where traditional bank transfers can take several days.

By integrating stablecoins into its financial operations, Onafriq aims to streamline the movement of funds across different currencies and regulatory environments. The company facilitates rising cross-border transaction volumes for banks, mobile money providers, and merchants across Africa, though it has not publicly disclosed its total annual processing volume.

The collaboration reflects a broader industry shift toward faster and more efficient settlement mechanisms that reduce reliance on conventional banking channels.

Why Stablecoins Are Becoming Africa’s Settlement Backbone

Across Africa, fintech companies are increasingly adopting stablecoins as backend infrastructure rather than consumer-facing products. These digital assets, typically pegged to the US dollar, enable payment providers to:

• Transfer funds across borders more quickly

• Improve liquidity management

• Reduce dependence on correspondent banking networks

Minimize transaction costs and processing delays

Stablecoins are particularly attractive in regions where access to foreign exchange is limited and international banking relationships are fragmented. In such markets, traditional cross-border payments often involve complex routing processes and extended settlement timelines.

According to Kirill Gertman, founder and CEO of Conduit.

Onafriq is a global poster child for the impact a fintech can have in a developing market, offering fast, reliable, and accessible money movement in Africa, which has not been served well by traditional banking options.

The first phase of the partnership will focus on treasury operations. Conduit will support Onafriq in converting USDC into US dollars through specialised off-ramp channels, enabling the company to rebalance funds across markets more efficiently.

This approach allows Onafriq to test how stablecoins can improve global liquidity management while maintaining compliance with existing financial systems. The companies also plan to evaluate additional use cases for stablecoin integration as the partnership evolves.

Conduit’s infrastructure will help us move toward streamlining our global treasury management through stablecoins and drive faster payouts for our customers.

Rising Demand for Stablecoin-Based Payments in Africa

Conduit reports growing interest from African businesses seeking faster international settlement solutions. The company said the number of African clients using its platform rose by 80% between the third and fourth quarters of 2025. Conduit originally launched its stablecoin-powered cross-border payment service in 2023.

The surge reflects increasing demand for alternatives to traditional banking rails, particularly in emerging markets where transaction costs and delays remain persistent challenges.

How the Model Challenges Traditional Banking Systems

For decades, cross-border payments have relied heavily on the SWIFT network, where transactions typically pass through multiple intermediary banks. Each intermediary adds processing time, fees, and operational complexity, often limiting transparency throughout the transaction lifecycle.

Stablecoin-based transfers offer a different model. Transactions are settled on blockchain networks, typically involving a single service provider fee and enabling real-time tracking of fund movement. The result is greater cost efficiency and improved visibility during settlement.

However, stablecoin infrastructure still depends on local banking partners to convert digital assets into traditional currency, meaning conventional financial institutions remain part of the ecosystem.

Expanding Onafriq’s Pan-African Financial Network

Founded in 2010, Onafriq has built an extensive payment infrastructure connecting financial institutions and local payment systems across Africa. Its services include:

• Cross-border money transfers

• Payment collections

• Card services

• Agent banking operations

• Foreign exchange solutions

The partnership with Conduit adds a new settlement layer to this network, strengthening its ability to manage international payments at scale.

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A Broader Global Shift Away From Legacy Payment Rails

The Onafriq–Conduit alliance reflects a global trend among payment companies seeking alternatives to traditional cross-border infrastructure. While SWIFT-based transfers remain dominant, they often involve multiple compliance checks, intermediaries, and settlement delays.

Stablecoin networks promise near-instant settlement and lower operational friction, positioning them as a potential foundation for the next generation of global paymentsparticularly in emerging markets where financial infrastructure gaps remain significant.

The Bigger Picture for Africa’s Fintech Evolution

As digital payments expand across the continent, the adoption of blockchain-based settlement tools could reshape how African businesses access global financial systems. For companies like Onafriq, stablecoins represent not just a technology upgrade but a strategic tool for improving liquidity, reducing costs, and scaling cross-border operations.

If successful, the partnership may accelerate broader adoption of stablecoin infrastructure across Africa’s financial ecosystem, reinforcing the continent’s growing role in shaping the future of global payments.