Onafriq has partnered with Privy, a stablecoin wallet infrastructure provider, to develop regulated stablecoin-enabled payment services for business customers across Africa, the companies said on 29 July 2026 in a statement issued in Nairobi.

Under the partnership, Onafriq said it will integrate Privy’s infrastructure to support cross-chain stablecoin transfers, and to streamline treasury and settlement workflows. The companies said the initiative is intended to address what they described as slow and fragmented cross-border settlement processes across African markets, with implementation subject to regulatory approval.

The announcement comes as African payment providers and financial institutions look for faster settlement options for regional trade and treasury operations. Cross-border transfers in Africa often involve multiple intermediaries and longer settlement cycles, raising costs and tying up liquidity for businesses. Onafriq said stablecoin-based rails can provide an alternative route for settlement and liquidity management where regulations allow.

Onafriq said the partnership is part of its broader strategy to modernise pan-African payment infrastructure, including development of multi-modal wallets and more efficient movement of value across borders. The firm operates a payments network spanning 43 African markets, connecting more than one billion mobile money wallets and 500 million bank accounts, according to the company.

“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.”

Privy said the collaboration will focus on building infrastructure that financial institutions and payment firms can integrate without having to manage blockchain complexity directly. The company became a Stripe company in 2025, according to the statement.

“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.”

While the companies did not disclose commercial terms, timelines, or transaction volumes, they said the partnership is expected to support institutional use cases including stablecoin-enabled settlement, treasury management and liquidity services. Onafriq also said the offering will target banks, fintechs and mobile money operators across its network, with roll-out dependent on regulatory approval in relevant markets.

For Kenya and East Africa, the move reflects growing interest among payments firms in regulated digital asset infrastructure to reduce cross-border settlement friction for B2B transactions, regional suppliers and treasury functions. However, adoption will likely hinge on country-level regulatory clarity around stablecoins, licensing, consumer protection and anti-money laundering controls. Industry observers expect early deployments to focus on back-end settlement and treasury rather than retail-facing products, as firms test compliance and operational risk frameworks.

Onafriq and Privy said next steps include building out the initial phase covering cross-chain transfers and settlement workflows, and expanding to additional liquidity and payment solutions over time “where regulation allows.”