ViFi Labs, a decentralized stablecoin protocol focused on building on-chain foreign currency exchange (FX) venues, has announced the acquisition of OneRamp, a leading stablecoin payments platform serving users across Africa. The acquisition forms part of ViFi’s broader strategy to capture a significant share of the $540 billion institutional stablecoin market across Africa and Latin America (LATAM).
Founded by Ugandan entrepreneurs Elias Hezron Opio and Jovan Mwesigwa, OneRamp enables users to seamlessly spend stablecoins by facilitating direct payments to mobile money platforms and bank accounts. The platform currently operates in Kenya, Nigeria, Uganda, and Tanzania, serving more than 25,000 users and generating an annualized revenue run rate of $1.2 million.
“Onramp is a source of customer acquisition wherever the markets are being made,” said Varoun Hanooman, Co-founder of ViFi Labs. “ViFi’s goal is to be the best place for market making in the future. But OneRamp is a distribution game. It makes it as easy to access all those venues from a single interface.”
ViFi Labs envisions a future where foreign exchange is powered by decentralized infrastructure. The acquisition of OneRamp provides ViFi with a distribution channel and direct access to institutional stablecoin adoption in emerging markets. According to Tony Olendo, Co-founder of ViFi Labs, this move will ensure that the ViFi protocol gains immediate traction at launch.
Beyond regional expansion, the acquisition positions OneRamp for deeper integration with major crypto ecosystems. Notably, OneRamp is set to become the primary payment provider for Africa on Coinbase’s new Base App, enabling users to access mobile money and banking integrations seamlessly across the continent.
While OneRamp remains platform-agnostic, its potential to scale within Base offers a significant growth opportunity. For ViFi, this deal is not just about market share—it’s about becoming the foundational infrastructure for on-chain FX in regions where stablecoins already play a critical role in commerce, savings, and cross-border remittances.
