Stablecoins are digital tokens usually pegged to fiat currencies such as the U.S. dollar. They are increasingly used behind the scenes in fintech to settle payments more efficiently than legacy systems like SWIFT, which often involve multiple intermediaries, compliance checks and delays.
Onafriq, a major pan-African fintech company that operates in more than 40 countries, has partnered with Conduit, a global cross-border payments firm specialising in dollar-pegged stablecoin infrastructure, in a move aimed at transforming how money moves across borders within Africa and beyond.
The partnership was unveiled this week at the Africa Tech Summit 2026 in Nairobi, where leaders from both companies outlined plans to use blockchain-based dollar tokens such as USDC to manage liquidity, fund accounts, rebalance treasury holdings and speed up payouts in markets where conventional bank transfers can take several days.
Stablecoins for faster settlement and treasury operations
In the first phase of the collaboration, Conduit will help Onafriq convert USDC into U.S. dollars through regulated off-ramp channels. This will allow Onafriq to optimise how it moves funds between markets, particularly where traditional banking systems are slow or fragmented.
Onafriq’s network already supports cross-border volumes for banks, mobile money operators and merchants, but settlements historically depend on correspondent bank systems that are costly and slow. By tapping into stablecoin rails, fintech hopes to reduce both cost and settlement time, while improving liquidity management across jurisdictions.
“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,” said Kirill Gertman, Founder and CEO of Conduit.
Luke Khohere, Onafriq’s Group Chief Product and Innovation Officer, added that Conduit’s infrastructure will help streamline global treasury management and drive faster payouts for Onafriq’s customers.
In many African markets, payment firms are testing stablecoins as backend settlement tools rather than direct consumer products. This approach can significantly lower costs and increase the speed of cross-border transfers, a major advantage in regions where foreign exchange access is limited and correspondent banking networks are thin or expensive.
Conduit has reported rising demand from African clients, with its customer base in the region growing by about 80% between the third and fourth quarters of 2025. The company first launched its stablecoin-powered cross-border product in 2023
The collaboration signals a shift in how African fintechs are approaching payment infrastructure. As networks look for ways to bypass slow bank rails and deliver near-instant settlement, stablecoin technology offers a practical alternative for treasury operations and liquidity flows.
If successful, this could not only speed up payouts for businesses and partners, but also lay the groundwork for the broader adoption of blockchain settlement systems in Africa’s financial ecosystem.
Read also: Paycrest: Connecting Stablecoins and Fiat in Africa’s Markets
