Flutterwave, Yellow Card, and Onafriq—three major players in Africa’s fintech ecosystem—have joined Circle’s newly launched Circle Payments Network (CPN), in a bid to revolutionise cross-border payments across the continent. Circle, the company behind the USDC stablecoin, launched CPN in 2024 to offer real-time, low-cost international settlements through blockchain technology.
The move underscores Africa’s growing stake in global financial innovation. These partnerships mark a pivotal step toward tackling the long-standing inefficiencies of cross-border payments: from sky-high fees to delays caused by incompatible banking systems. According to the World Bank, sending money internationally still costs over 6% on average, with Sub-Saharan Africa bearing the highest burden.
Circle’s blockchain-native infrastructure connects banks, digital wallets, and fintechs to enable the real-time movement of stablecoins such as USDC and EURC. It offers a promising alternative to outdated systems bogged down by intermediaries and red tape. For African companies like Flutterwave, Yellow Card, and Onafriq, the platform isn’t just another payment channel—it’s a gateway to scalable, borderless finance.
Flutterwave, which operates in over 30 African countries, plans to use CPN to streamline B2B payments and cross-border commerce. Faster transaction speeds, reduced fees, and global accessibility are core benefits the company sees in the stablecoin network.
Yellow Card, a crypto exchange serving 20+ African countries, plays a critical role in bridging stablecoins with local currencies. By acting as an on- and off-ramp between fiat and crypto, it gives individuals and businesses the option to save and transact using digital dollars.
Onafriq—formerly MFS Africa—is bringing CPN’s functionality to the grassroots. With connections to more than 500 million mobile wallets, Onafriq’s involvement expands the network’s reach into rural and low-income areas that traditional banks often leave out.
“This partnership allows millions to participate in a digital-first global economy,” Circle stated, highlighting the growing momentum behind stablecoin adoption.
CPN is not merely a transaction tool—it’s also a programmable platform. Developers and financial institutions can build apps, smart contracts, and payment flows directly onto the network. This flexibility could enable African startups to design solutions ranging from international payroll systems to decentralised remittance platforms.
Eligibility for participation is strict. All three African fintechs have cleared Circle’s requirements, which include licensing, cybersecurity measures, and anti-money laundering (AML) compliance. Their inclusion sets a new benchmark for emerging market players.
Since CPN’s launch, more than 30 companies worldwide have signed on, including Standard Chartered, Deutsche Bank, and fintech firms like Fireblocks and dLocal. The inclusion of African startups signals a growing recognition of the continent’s fintech leadership and innovation potential.
With this partnership, Flutterwave, Yellow Card, and Onafriq are not just beneficiaries—they’re helping shape how stablecoins are integrated into the broader financial ecosystem.
I am passionate about crafting stories, vibing to good music (and making some too), debating Nigeria’s political future like it’s the World Cup, and finding the perfect quiet spot to work and unwind.
Nigeria’s data protection industry is set to generate ₦13.8 billion in revenue by 2025. This projection marks a 15% rise from the ₦12 billion recorded in 2024. Dr. Vincent Olatunji, the National Commissioner of the Nigeria Data Protection Commission (NDPC), shared this during an interview with the News Agency of Nigeria (NAN) in Abuja. Olatunji […]
SimpliRide, a new ride-hailing app, has entered the Nigerian market to challenge big players like Bolt and Uber. The app aims to fix problems that e-hailing drivers face, such as high commissions, poor earnings, and a lack of support. SimpliRide’s Director of Business Development, Dr. Raymond Odu Dibang-Achua, said the company built the app after […]
South Africa has canceled its plan to increase value-added tax (VAT) after facing strong opposition from political parties and civil society groups. The National Treasury had suggested a 1% VAT hike over two years to close a $4.02 billion (R75 billion) budget gap. On Thursday, the National Treasury said it had decided after talking with […]
Rwanda’s government plans to stop using paper medical records in all public hospitals and health centers by December 2025. To make this happen, the Ministry of Health is speeding up the rollout of a homegrown digital platform called e-Ubuzima. This system will connect patient records across all public health facilities. It will let doctors and […]
The National Information Technology Development Agency (NITDA) will host its Startup Consultative Forum on April 28 in Abuja. The forum will bring together startups, investors, and tech support organizations to nominate members for Nigeria’s Startup Council. Mrs. Hadiza Umar, NITDA’s Director of Corporate Communications and Media Relations, announced the event in a statement on Tuesday. […]
The milestone, shared by IXPN on its official channels, reflects more than just a spike in numbers. It highlights how far the country’s internet ecosystem has evolved.
Circle’s blockchain-native infrastructure connects banks, digital wallets, and fintechs to enable the real-time movement of stablecoins such as USDC and EURC. It offers a promising alternative to outdated systems bogged down by intermediaries and red tape.
As Google faces one of its most consequential antitrust trials to date, OpenAI has surfaced as a potential player in the aftermath.
The UAE stands out in Mastercard’s research. About 47% of SMEs in the country have endured a cyberattack. While malware tops the list of threats at 32%, digital skimming, phishing, ransomware and hacking each appear in 31% of reported cases — making the UAE the only country where digital skimming is among the top concerns.
The creation of DPI Venture Capital follows a strategic restructuring that handed DPI the investment advisory responsibilities for Nclude, a top Egyptian fintech fund.
Nigeria’s data protection industry is set to generate ₦13.8 billion in revenue by 2025. This projection marks a 15% rise from the ₦12 billion recorded in 2024. Dr. Vincent Olatunji, the National Commissioner of the Nigeria Data Protection Commission (NDPC), shared this during an interview with the News Agency of Nigeria (NAN) in Abuja. Olatunji […]
SimpliRide, a new ride-hailing app, has entered the Nigerian market to challenge big players like Bolt and Uber. The app aims to fix problems that e-hailing drivers face, such as high commissions, poor earnings, and a lack of support. SimpliRide’s Director of Business Development, Dr. Raymond Odu Dibang-Achua, said the company built the app after […]
South Africa has canceled its plan to increase value-added tax (VAT) after facing strong opposition from political parties and civil society groups. The National Treasury had suggested a 1% VAT hike over two years to close a $4.02 billion (R75 billion) budget gap. On Thursday, the National Treasury said it had decided after talking with […]
Rwanda’s government plans to stop using paper medical records in all public hospitals and health centers by December 2025. To make this happen, the Ministry of Health is speeding up the rollout of a homegrown digital platform called e-Ubuzima. This system will connect patient records across all public health facilities. It will let doctors and […]
The National Information Technology Development Agency (NITDA) will host its Startup Consultative Forum on April 28 in Abuja. The forum will bring together startups, investors, and tech support organizations to nominate members for Nigeria’s Startup Council. Mrs. Hadiza Umar, NITDA’s Director of Corporate Communications and Media Relations, announced the event in a statement on Tuesday. […]
The milestone, shared by IXPN on its official channels, reflects more than just a spike in numbers. It highlights how far the country’s internet ecosystem has evolved.
Circle’s blockchain-native infrastructure connects banks, digital wallets, and fintechs to enable the real-time movement of stablecoins such as USDC and EURC. It offers a promising alternative to outdated systems bogged down by intermediaries and red tape.
As Google faces one of its most consequential antitrust trials to date, OpenAI has surfaced as a potential player in the aftermath.
The UAE stands out in Mastercard’s research. About 47% of SMEs in the country have endured a cyberattack. While malware tops the list of threats at 32%, digital skimming, phishing, ransomware and hacking each appear in 31% of reported cases — making the UAE the only country where digital skimming is among the top concerns.
The creation of DPI Venture Capital follows a strategic restructuring that handed DPI the investment advisory responsibilities for Nclude, a top Egyptian fintech fund.
Strive for tech news and insights? Subscribe to our newsletter and stay up-to-date with the latest tech trends, expert insights, and exclusive content.
Start your perfect news blog or magazine with Caards, the premium WordPress theme you've been looking for.
Error: No feed found.
Please go to the Instagram Feed settings page to create a feed.
© 2022. All rights reserved by Axilthemes.
No Comments