Paga Partners with Sui to Expand Crypto Infrastructure in Africa
- On May 7, Paga announced a partnership with Sui blockchain to launch high-yield accounts and crypto rails for over a billion people.
- The collaboration focuses on USDsui, Sui’s newly launched dollar stablecoin, and aims to facilitate cross-border transfers and tokenized assets.
- Paga has processed $42 billion in total payment volume since its founding in 2009, leveraging this scale for the new initiative.
- This move aligns with other African fintechs like Flutterwave and Paystack exploring blockchain for settlement and global payments.
Paga’s partnership with Sui marks a significant step into the crypto space, focusing on innovative financial solutions like high-yield stablecoins and tokenized assets. This initiative aims to provide Africans with tools to hedge against currency volatility and access global markets efficiently.
The integration of USDsui stablecoin is set to enhance Paga’s existing financial services by offering interest-earning accounts and seamless cross-border transactions, capitalizing on its extensive transaction history of $42 billion. Source
