Onafriq Partners with Circle to power remittances and cross-border payments with USDC
Onafriq, Africa’s largest payments gateway, and Circle, stablecoin market leader and issuer of USDC, today announced their strategic partnership aimed at transforming cross-border payments and digital financial services. This collaboration marks a significant step towards compliantly leveraging stablecoins and blockchain infrastructure to boost Onafriq’s payment network, positioning it at the forefront of the digital payment’s revolution for real-world financial applications.
Currently, over 80 percent of intra-African payments are routed through correspondent banks outside the continent and settled in foreign currencies such as the US dollar or Euro. This results in a staggering US$5 billion in transaction fees annually and undermines economic integration efforts. Onafriq and Circle ar...