Onafriq and Circle are partnering to address the $5 billion Africa loses annually to foreign intermediaries by piloting USDC settlements. Onafriq aims to simplify and reduce the cost of money transfers across over 40 African countries. Circle sees strong potential for stablecoins in Africa, where currency instability has fueled demand for reliable digital alternatives, with stablecoins already accounting for nearly half of crypto activity in Sub-Saharan Africa.
