How Onafriq is modernizing treasury operations across Africa with stablecoins
How Onafriq uses Privy to help businesses move value across Africa with greater speed, transparency, and efficiency.
Debbie Soon
|Jul 29, 2026
Onafriq connects banks, mobile money operators, merchants, and enterprises across Africa, helping power digital payments both within the continent and between Africa and the rest of the world. Today, the company connects over one billion mobile money wallets and 500 million bank accounts across a network spanning 43 African markets.
As stablecoins emerge as a new settlement rail for global payments, Onafriq is investing in the infrastructure needed to move capital more efficiently across its network. The company uses Privy's programmable wallet infrastructure to support treasury management, liquidity movement, and cross-border settlement operations.
Today, Onafriq is building on Privy to streamline treasury workflows and stablecoin settlement. Over time, the same foundation could support a broader range of payment and financial services.
Bringing stablecoins into treasury operations
For payments companies operating across multiple countries, moving money is often more complicated than it appears.
Treasury teams must manage liquidity across markets, coordinate settlement between counterparties, and navigate a patchwork of payment rails, currencies, and financial institutions. While digital payments have expanded significantly across Africa, cross-border fund movement can still involve multiple intermediaries and operational handoffs.
Stablecoins offer a simpler approach, helping businesses move value more efficiently, improve settlement speed, and gain greater visibility into the flow of funds across their operations.
For Onafriq, that presented an opportunity to modernize treasury management and simplify how capital moves throughout its network.
Building with Privy
To support its stablecoin strategy, Onafriq selected Privy as the wallet infrastructure layer for its treasury operations.
The team moved quickly from integration to production, using Privy's programmable wallets to manage treasury balances and settlement flows across the business.
Privy's native integrations across the stablecoin ecosystem also help simplify the broader settlement stack. Through connections to providers such as Bridge today, and additional liquidity and off-ramp partners over time, Onafriq can continue expanding and optimizing how money moves across its network.
Rather than stitching together multiple providers and maintaining wallet infrastructure internally, Onafriq can focus on delivering payment infrastructure while building on a foundation designed to scale alongside its business.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management, which serves our goal of ensuring Africa's payment ecosystem benefits securely and in line with regulatory frameworks.” — Luke Kyohere, Group Chief Product and Innovation Officer at Onafriq.”
From treasury management to customer payments
Today, Onafriq uses Privy to support treasury management and settlement workflows across its business.
Over time, the same infrastructure could be extended beyond internal operations to support customer-facing payment flows. The wallets and settlement infrastructure powering treasury operations today could also be used to facilitate payouts, collections, and cross-border transactions for businesses moving money into and across Africa.
By starting with treasury operations, Onafriq is establishing the infrastructure needed to support stablecoin-powered payments at a broader scale.
What's next
The integration is already in production and progressing through a phased rollout ahead of broader availability.
For Onafriq, stablecoins represent an opportunity to simplify treasury management, improve settlement efficiency, and reduce the complexity of moving money across borders.
As adoption continues to grow, the company is building infrastructure that can support both internal treasury operations and future payment flows, helping businesses move value across Africa with greater speed, transparency, and efficiency.
