Onafriq partners with Privy to build regulated stablecoin infrastructure for B2Bs across Africa

FOR IMMEDIATE RELEASE: Onafriq partners with Privy to build regulated stablecoin infrastructure for B2Bs across Africa

The deal pairs Onafriq’s payments network with Privy’s technology to speed up cross-border settlement and treasury services.

[London, United Kingdom], 29 July 2026 – Onafriq, Africa’s largest payments network, has partnered with leading stablecoin infrastructure provider, Privy, to strengthen its digital asset infrastructure and drive 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, in time, institutional clients where regulation allows. The initial phase focuses on cross chain stablecoin transfers, and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.

Moving money between African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles. As demand for faster alternatives rises among payments companies and financial institutions, stablecoins offer a viable avenue to eliminate these delays and unlock liquidity.

Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators. This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling 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,” said Luke Kyohere, Group Chief Product and Innovation Officer at Onafriq. “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.”

Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple 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,” said Henri Stern, Co-Founder and Chief Executive Officer of Privy. “Working with Onafriq allows us to help build that foundation across Africa and beyond.”

The partnership will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services. It reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.

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About Privy

Privy provides secure, scalable wallet infrastructure for modern financial products built on crypto and stablecoin rails. More than 2,000 developers and businesses, including Ramp, Deel, and Hyperliquid, use Privy to power over 120 million accounts and process billions of dollars in monthly volume. Privy became a Stripe company in 2025.

About Onafriq

Onafriq is an omnichannel network of networks, making borders matter less by providing our partners with a single pathway to unlock the full power of cross-border and cross-platform payment solutions. With a network spanning 43 African markets, Onafriq connects over one billion mobile money wallets and 500 million bank accounts, enabling domestic and cross-border disbursements and collections, card issuing and processing, agency banking, and treasury services.

At Onafriq, we bring together global and regional enterprises, mobile network operators, money transfer operators, banks, fintechs, global development organisations, and online and offline merchants. With top-notch regulatory and compliance capabilities and a robust regional presence encompassing 10 offices in Africa, as well as locations in the UK, US, and China, we are paving the way for a new era of access for people across the African continent and beyond. Learn more at onafriq.com.