Circle Signs First African Partnership with Cassava Technologies, USDC Stablecoin to Be Used for Payments in Africa

Africa has long faced issues like high cross-border settlement costs, exchange rate volatility, and insufficient bank service coverage. While mobile payments are popular, traditional financial infrastructure still has gaps.

US-based company Circle recently signed its first African partnership with Sasai Fintech, a subsidiary of Nvidia-backed Cassava Technologies. This allows users of Sasai's remittance app (covering 30 African markets) to use USDC stablecoin for domestic and cross-border payments.

This collaboration marks USDC's official entry into Africa's financial infrastructure, providing local users with near-instant, cost-controlled payment solutions. It's also a key step in Circle's global payment network expansion, setting up competition with Tether in the African market.