Onafriq and Conduit partner to power stablecoin payments across Africa

Onafriq, one of Africa’s largest digital payments networks, has announced a strategic partnership with global stablecoin payments platform Conduit to accelerate stablecoin-powered treasury and cross-border settlement on the continent.

The companies announced the partnership on Tuesday at the Welcome Reception opening the Africa Tech Summit in Nairobi. Executives from both companies took to the stage at Zen Garden to unveil the collaboration, positioning it as a milestone for stablecoin adoption in African fintech.

The partnership will see Conduit provide Onafriq with access to its global B2B stablecoin payment network. The infrastructure is designed to support more efficient, stablecoin on- and off-ramping, global treasury management, and faster cross-border settlement.

For Onafriq, it marks a key step in its plan to settle a significant share of its transaction volume using stablecoins.

Founded in 2010, Onafriq has built one of the continent’s most extensive financial networks. The company connects more than one billion mobile money wallets and 500 million bank accounts across over 40 African markets. Its services span cross-border payments, collections, card issuing and processing, agent banking, and foreign exchange and treasury operations.

Now, stablecoins are becoming central to its next phase of growth.

Onafriq is seeing rising demand for stablecoin payment flows from businesses seeking faster and more predictable settlement. Traditional cross-border systems, including SWIFT, often involve delays, high fees and multiple intermediaries. By contrast, stablecoin rails offer near-instant settlement and programmable payment capabilities.

Through the partnership, Onafriq will be able to onramp payments in USDC more easily, streamline global treasury operations using stablecoins, and execute same-day payouts into markets where settlement previously took several days.

Kirill Gertman, founder and CEO of Conduit, described Onafriq as a standout example of fintech innovation in emerging markets.

“Onafriq is a global poster child for the impact a fintech can have in a developing market,” he said during the announcement. He noted that the company’s scale and reach make it uniquely positioned to accelerate stablecoin adoption across Africa. “Their impact is clear, and it can only be amplified by the power and potential of stablecoins.”

Onafriq x Conduit: Stablecoins gain ground in African treasury and payments

The partnership reflects a broader trend across Africa’s fintech ecosystem. Businesses across the continent are increasingly turning to stablecoins to manage global treasury functions, hedge against local currency volatility, and secure more reliable access to US dollars.

Inflationary pressures in several African economies have pushed corporates and fintechs to seek alternatives to traditional banking rails. Stablecoins, particularly dollar-pegged assets such as USDC, are emerging as a practical solution. They offer quicker settlement times, lower transaction costs, and reduced dependency on correspondent banking networks.

Conduit, which launched its cross-border stablecoin platform in 2023, says demand from African businesses has surged over the past year. The company reported that the number of African customers transacting on its platform increased by 80 per cent between the third and fourth quarters of 2025.

That growth underscores how rapidly stablecoins are moving from crypto-native use cases into mainstream B2B payments and treasury management across Africa.

For Conduit, the agreement with Onafriq significantly expands its continental footprint. By integrating with Onafriq’s payment rails, Conduit’s stablecoin infrastructure will connect into a network that already reaches hundreds of millions of end users. The result is broader merchant access to local payment methods and improved infrastructure to support digital and stablecoin-enabled transactions.

Luke Khohere, Onafriq’s Group Chief Product and Innovation Officer, framed the move as part of a longer-term strategy to modernise the company’s treasury and settlement operations.

“Conduit’s infrastructure will help us move toward streamlining our global treasury management through stablecoins and drive faster payouts for our customers,” he said. He added that stablecoins represent a significant shift in what is possible for seamless payments across Africa.

The emphasis on interoperability is central to Onafriq’s vision. The company has long advocated for real-time, interconnected trade across African currencies. By embedding stablecoin rails into its infrastructure, it aims to support near-instant and programmable payments across multiple jurisdictions.

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