Pan-African payments operator Onafriq is expanding its USDC settlement business across multiple African markets through a partnership with Circle. The company is building cross-border payment rails around the stablecoin as it looks to cut the roughly $5 billion in annual correspondent banking fees it says are tied to current payment flows. Onafriq also said integrating with the Circle API reduced deployment time sharply, from six months to between four and six weeks. The company framed regulatory compliance as a core part of its strategy and said it already holds payment licenses in several markets. Its client base includes banks, fintech firms, and mobile money operators. The update was cited by Techub News, which referenced CryptoBriefing.
Pan-African payments operator Onafriq is expanding its USDC settlement business across multiple African markets through a partnership with Circle, according to Techub News, citing CryptoBriefing.
The company is building cross-border payment rails with USDC and said the move is aimed at lowering roughly $5 billion in annual correspondent banking fees under the current system.
Onafriq said its integration with the Circle API cut deployment time from six months to four to six weeks.
The company also said regulatory compliance sits at the center of its strategy. Onafriq holds payment licenses in several markets and serves banks, fintech companies, and mobile money operators.
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