Kora, a Nigerian-founded fintech that provides payment rails for businesses across African markets, has launched One Rail, a product that integrates stablecoin payment and settlement options into its existing network.
The new product allows eligible merchants in supported markets to accept payments in dollar-backed stablecoins USDT and USDC, convert between supported assets, and settle funds to bank accounts, mobile wallets, or stablecoin wallets through Kora’s existing infrastructure. Kora said it is expanding access in stages, with supported functions varying by market and the payment rails enabled for each merchant.
The move comes as African fintech infrastructure providers, including Onafriq and Fincra, are increasingly turning to stablecoin-based options for cross-border payments. For payment companies, stablecoins offer a potential alternative to move dollar-denominated value between markets.
If firms can convert those balances into local currencies when needed, they may reduce the amount of working capital tied up in prefunded accounts. The savings would depend on the availability and cost of local liquidity, foreign exchange (FX) conversion, and payout services.
Originally published by TechCabal.