Flutterwave, Yellow Card, and Onafriq—three of Africa’s most innovative and impactful fintech companies—have joined the newly launched Circle Payments Network (CPN), a global infrastructure developed by Circle Internet Group, the issuer of the USDC stablecoin. Their participation is a powerful signal of Africa’s rising influence in global financial innovation and a critical step toward making cross-border payments faster, cheaper, and more inclusive for individuals and businesses on the continent.
A New Chapter in Global Payments
Circle launched the Circle Payments Network in 2024 as a blockchain-native system that connects regulated financial institutions—including banks, fintechs, neobanks, digital wallets, and virtual asset service providers—to enable real-time settlement of cross-border payments using regulated stablecoins such as USDC and EURC. The network addresses long-standing challenges in international money movement: settlement delays, high fees, fragmented systems, and lack of transparency.
According to the World Bank, average global remittance costs are still above 6%, with Sub-Saharan Africa suffering some of the highest fees. Payments can take days to complete due to multiple intermediaries, time zone differences, compliance requirements, and incompatible infrastructure.
Circle’s vision is to change that. By enabling real-time settlement using digital dollars and euros, CPN empowers businesses and developers to build faster, more reliable financial applications, from supplier payments and payroll to international remittances and on-chain marketplaces.
“Since our founding, Circle’s vision has been to make money move as easily as email,” said Jeremy Allaire, Co-Founder and CEO of Circle. “CPN represents a foundational step toward achieving that vision for financial institutions worldwide.”
Why African Startups Are Joining
For Flutterwave, Yellow Card, and Onafriq, the benefits of joining CPN are clear.
Flutterwave, a pan-African payments giant operating in over 30 countries, plans to leverage CPN to simplify global B2B payments, merchant settlements, and cross-border e-commerce. The stablecoin rails offer faster processing, lower costs, and global reach—critical for African businesses aiming to scale internationally.
“We’re excited to join Circle Payments Network as a design partner. As a payments company focused on remittances and enterprise merchant payments, our partnership with the Circle Payments Network (CPN) unlocks powerful possibilities,” said Olugbenga “GB” Agboola, Flutterwave CEO in a post on LinkedIn
Yellow Card, Africa’s leading crypto exchange with operations in over 20 countries, brings essential fiat-to-crypto conversion infrastructure to the network. Their role within CPN is to serve as a trusted on- and off-ramp between stablecoins like USDC and African local currencies, enabling millions to save, transact, and receive remittances in digital dollars.
Onafriq (formerly MFS Africa), a digital payments network serving over 500 million mobile wallets across Africa, expands CPN’s reach deep into underserved regions. Their connectivity to mobile money systems makes CPN accessible to users in rural and low-income areas who are traditionally excluded from global payment systems.
Built for Developers, Backed by Compliance
CPN is more than a settlement layer. It is programmable, allowing financial institutions and developers to build apps, services, and financial workflows directly on top of it using smart contracts and APIs. This opens new possibilities for African startups to create tailored solutions—from remittance portals to blockchain-based payroll systems—on infrastructure built for compliance and scalability.
Each participant must meet rigorous eligibility standards including licensing, AML/CFT compliance, cybersecurity, and risk controls. Flutterwave, Yellow Card, and Onafriq all meet or exceed these thresholds, setting an example for other startups to follow.
A Growing Global Movement
Since its launch, CPN has attracted a growing roster of international design partners and fintech collaborators. As of April 2025, over 30 companies worldwide have joined the network, including global banks like Standard Chartered and Deutsche Bank, and digital asset platforms such as Fireblocks, OpenPayd, Coins.ph, dLocal, and Nuvei.
Flutterwave, Yellow Card, and Onafriq represent Africa’s contribution to this global movement—demonstrating how the continent’s fintech leaders are not only embracing blockchain and stablecoins but actively shaping how they’re deployed.
A Borderless Future for Africa
With the support of CPN, African startups now have the tools to help small businesses, freelancers, and consumers move money faster and more affordably across borders. This is more than a partnership—it’s a reimagining of what’s possible when local innovation connects with global infrastructure.
As CPN continues to expand, Flutterwave, Yellow Card, and Onafriq are positioned not just as participants, but as architects of Africa’s financial future.
