Onafriq, a Pan -African payment company that allows interoperable cross -border and national digital payments, has established a partnership with Circle A Global Finnish Technology Company, to extend access to cross -border payments across Africa with USDC.
By integrating the regulation solutions powered by the USDC in its network, Onafriq makes intra-African payments faster and more effective for individuals and organizations.
Today, more than 80% of intra-African payments take an expensive detour through foreign banks, pay dollars or euros and empty a jaw 5 billion dollars per year in transaction costs. This clumsy system stifles the economic dreams of Africa.
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This partnership marks an important step in the implementation of stablescoins and blockchain infrastructure in order to create a more affordable and inclusive cross -border payment system that reduces costs, simplifies transactions and strengthens trust.
Speaking on the partnership, Okoudjou, founder and CEO of Onafriq, said,
“Our partnership with Circle is an important step, strengthening ONAFRIQ’s commitment to use technology to eliminate the complexity of cross -border payments.
Also expressing himself, Miriam Kiwan, vice-president, the Middle East and Africa in Circle, said, said
“The emerging markets that one -defriq serves have enormous potential for the innovation of digital assets, in particular in the adoption of stablescoins for cross -border payments. Our partnership with Onafriq aligns perfectly with Circle’s mission to promote financial inclusion and improve efficiency in the fields where traditional banking has often been expensive and inaccessible. Economic empowerment and connectivity. »»
In the past year, there has been a big step forward in the growth and maturation of the USDC economy. All over the world, there is a significant momentum because more people and businesses exploit the power of digital dollars on blockchain networks. The developers continue to discover the power of USDC and Circle technologies as a platform to create applications that can make world trade and finance better, faster and more inclusive. Stablecoins and blockchain are the keys, to unlock faster, cheaper and more inclusive transactions that allow individuals and businesses.
Onafriq, a Pan -African payment company which allows interoperable cross -border and digital payments, has led the next stage of this revolution. The company has an agile multi-cultural team, with multiple talents of more than 30 different nations which are pushed to create access to a world without borders for millions of Africans and African companies.
By infusing a sprawling network of Onafriq connecting more than 500 portfolios and 200 million bank accounts on more than 40 African markets with settlement solutions powered by the USDC in Circle, this partnership turalizes cross -border payments.
In particular, this collaboration is a giant jump to an autonomous and inclusive pan -African financial ecosystem, the one where blockchain and stablecoins open the way to a future that is faster, fairer and fiercely connected.
Impact of collaboration
• Reduction of costs and economic efficiency
The collaboration addresses the $ 5 billion in annual transaction fees drained by routing foreign banks. The use of the USDC for colonies considerably decreases costs for individuals, businesses and institutions. Cheaper transactions release capital for investment, consumption and growth, stimulating economic integration and competitiveness in Africa.
• Faster transactions
The USDC colonies based on the blockchain allow almost instantaneous cross -border payments, unlike the delays in traditional systems. The speed improves commercial agility, supports real -time trade and improves cash flows for millions of users, small entrepreneurs to large companies.
• Improved financial inclusion
By simplifying access to cross-border payments, in particular via mobile monetary platforms, the partnership reaches poorly served populations, including those without traditional bank accounts. This democratizes financial services, allowing millions of Africans to participate in the global economy, promoting entrepreneurship and reducing poverty.
• Strengthen confidence and transparency
Blockchain’s large transparent and secure book provides reliable transactions, while USDC stability reduces the risk of currency volatility. The increase in confidence encourages the adoption of individuals, businesses and regulators, paving the way for broader acceptance of digital currencies in Africa.
• Advancement of a pan -African financial ecosystem
The partnership reduces dependence on currencies and foreign banks, promoting an autonomous financial infrastructure adapted to the needs of Africa. This supports regional integration efforts, such as the African continental free trade area (AFCFTA), allowing transparent trade and investments through borders.
Ahead
Onafriq-Circle’s collaboration is a pivotal moment in Africa’s financial development, signaling a change to a modern, inclusive and efficient payment infrastructure. He calls into question the domination of inherited systems, empowers local economies and establishes a global reference on how emerging markets can take advantage of digital assets responsible.
By reducing costs, improving access and promoting confidence, this partnership transforms not only how money moves to Africa, but also strengthens the role of the continent in the global financial landscape, opening the way to a more connected and prosperous future.
