Mambo 👋!
This week, there’s more evidence that the competitive advantage in stablecoin payments is becoming less about technology and more about compliance and distribution. Just look at Kredete: two acquisitions and a new licence in three weeks.
Let’s get inside!
The story
South African fintech WalaPay which has so far processed $2.5 Billion, raised $4.6 million to expand its stablecoin payments infrastructure that helps businesses send and receive money across borders.
The round was led by 4DX Ventures and JAM Fund, with participation from angel investors, including executives from Coinbase and Solana.
Deals
CapitalSage Vantage Limited completed its acquisition of Chimoney, the Nigerian-founded payments startup that announced its shutdown in May after running out of capital to sustain operations.
Launches
Regulation
Kenya’s Central bank wanted powers to take over struggling payment companies and sell them.
Under the proposed National Payment System Bill, 2026, the Central Bank of Kenya could take control of payment companies that fail to pay customers, break regulations, or put the financial system at risk.
The bank could appoint new management and even sell the company to protect customers’ money.
Madini
Five Minutes With Capi Money Co-founder Scott Liddle on How Stablecoins Are One of the Tools Powering Cross-Border Payments in Emerging Markets
From inside
Kredete is buying a South African crypto licence holder to expand its stablecoin payments business.
The move comes just weeks after securing a money transfer licence in Ghana and three weeks after acquiring a stablecoin infrastructure company.
A pattern is becoming clear: In stablecoin payments, technology alone is no longer enough. Licences, compliance and distribution are becoming the real competitive advantage.
On the record
HyperFX settled $4.2M in FX volume in September, up from $719K in August (+485%).
Written from inside Africa with love 🇹🇿💚
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