Onafriq Partners with Circle to Pilot USDC for Cross-Border Payments in Africa

The Grout Medic of South Jacksonville; South Africa; On-site; ZAR 30,000 - 70,000; Full time

Job summary

An innovative partnership is set to transform cross-border payments in Africa. By integrating USDC stablecoin into a leading South African payment network, this initiative aims to significantly lower transaction costs and enhance financial services across the continent. The collaboration highlights a commitment to reducing reliance on foreign banking systems, fostering economic integration, and promoting financial inclusion through advanced blockchain technology. This forward-thinking approach not only addresses current challenges but also positions the region for a more efficient and locally controlled financial future.

Job description

Onafriq Partners with Circle to Pilot USDC for Cross-Border Payments in Africa

The collaboration aims to reduce transaction costs and reliance on foreign banks by integrating stablecoin settlements across Onafriq’s payment network.

About the Partnership

Onafriq, a South African-based payments gateway, has partnered with Circle, the issuer of the USDC stablecoin, to enhance cross-border payments and digital financial services across Africa.

This partnership will introduce USDC-based settlement into Onafriq’s network, which covers over 500 wallets and 200 million bank accounts in more than 40 African countries.

Current Challenges

More than 80% of payments between African countries are processed via correspondent banks outside the continent and settled in foreign currencies like the US dollar or euro, resulting in approximately US$5 billion in annual transaction fees.

Goals and Benefits

By leveraging USDC and blockchain technology, Onafriq and Circle aim to reduce dependence on external intermediaries and lower transaction costs, fostering regional economic integration.

Leadership Statements

Dare Okoudjou, CEO of Onafriq, stated: "Our partnership with Circle is a significant milestone, reinforcing our commitment to simplifying cross-border payments through technology. Integrating USDC helps us reduce costs, streamline transactions, and build trust."

Miriam Kiwan, Vice President for Middle East and Africa at Circle, added: "Markets in Africa have great potential for digital asset innovation. Our collaboration with Onafriq supports financial inclusion and efficiency, especially where traditional banking is costly or inaccessible."

Broader Impact

This initiative reflects efforts to modernize Africa’s financial infrastructure by creating systems that are more efficient, locally controlled, and compliant with existing regulations.

Featured image credit: Onafriq