Kredete Expands Stablecoin Payments Into South Africa Through Acquisition

Nigerian fintech Kredete is expanding into South Africa after acquiring a company that holds a Crypto Asset Service Provider (CASP) licence from the country’s Financial Sector Conduct Authority (FSCA).

The acquisition gives Kredete a locally licensed base as it prepares to expand its stablecoin-powered payment and remittance services for individuals and businesses in South Africa. The transaction was structured as an all-share deal through a Kredete subsidiary focused on stablecoin infrastructure. The purchase price was not disclosed.

The move adds South Africa to Kredete’s growing regulatory footprint as the fintech expands its cross-border payments operations across emerging markets.

Kredete Acquires South African Crypto Licence Holder

Kredete acquired an entity that already holds an FSCA-issued CASP licence rather than announcing a new licence application of its own.

The company completed the transaction through a subsidiary focused on developing stablecoin infrastructure and digital asset services. However, the acquired entity’s name and the financial value of the deal have not been publicly disclosed.

The acquisition provides Kredete with a local regulatory foothold as it prepares to introduce more digital-asset-powered payment services in South Africa.

The company has not announced a specific launch date for the expanded services.

Kredete Plans to Expand Stablecoin-Powered Payments

Kredete plans to use its South African presence to expand stablecoin-powered remittances and payments for individuals and businesses.

Founded in 2022 by Adeola Adedewe, the fintech provides financial services for consumers, businesses and diaspora communities that need to move money across borders.

Its platform supports international money transfers and multi-currency financial services. The company also uses stablecoins as part of its internal settlement infrastructure.

Stablecoins are digital assets designed to maintain a stable value relative to another asset, usually a currency such as the US dollar.

Payment providers can use them to settle the international leg of a transaction before delivering local currency to the recipient. This can reduce reliance on some traditional settlement arrangements, although actual costs and speeds depend on the payment corridor, liquidity and service providers involved.

Kredete has positioned this infrastructure as part of its strategy to make cross-border payments more accessible.

South Africa Offers a Growing Market for Stablecoin Payments

South Africa provides Kredete with access to an established digital-asset market and a developing regulatory framework.

Stablecoins are increasingly being used in payment-related activity, although adoption varies across different products and platforms.

On the MoneyBadger payment network, the share of crypto payment value attributed to rand-backed stablecoins reportedly increased from 2% to 44% over three years, according to Business Tech Africa.

The figures relate specifically to that network and should not be interpreted as representing the entire South African payments market.

Nevertheless, the growth illustrates why payment companies are exploring stablecoins as a settlement option.

For Kredete, the opportunity lies in connecting international transfers with local payment infrastructure while operating within South Africa’s regulatory requirements.

FSCA Licensing Remains Central to Kredete’s Expansion

The acquisition also reflects Kredete’s approach to entering regulated markets.

South Africa requires relevant crypto-asset service providers to obtain the appropriate regulatory authorisation. The FSCA oversees the licensing framework for these providers.

By acquiring an entity that already holds a CASP licence, Kredete has secured a locally licensed entry point for its expansion plans. However, the acquisition alone does not establish that every planned product or service is automatically authorised. The company must operate within the scope of applicable permissions and meet relevant regulatory obligations.

Kredete already holds Virtual Asset Service Provider (VASP) and Payment Service Provider (PSP) authorisations in Argentina. It also secured an International Money Transfer Operator (IMTO) licence in Ghana in October 2026.

These approvals support its wider effort to build regulated payment services across multiple markets.

Kredete Builds on Its Stablecoin Infrastructure Expansion

The South African acquisition follows Kredete’s acquisition of Gravv, a stablecoin infrastructure platform, announced in September 2026.

Gravv connects banks, blockchain networks and local payment systems. Its technology supports payment settlement, foreign exchange, liquidity management and payment routing across international markets.

At the time of the acquisition, Gravv reported more than $3 billion in annualised transaction volume, serving over 1,000 businesses across more than 100 countries. It also had relationships with seven global banking partners.

The acquisition gives Kredete greater control over the infrastructure behind its cross-border payment services.

Combined with its South African regulatory foothold, this expansion could help the company connect its settlement technology with locally authorised payment operations.

However, the two acquisitions serve different purposes: Gravv provides payment infrastructure, while the South African acquisition gives Kredete access to an entity holding a local CASP licence.

What Kredete’s South African Expansion Means

Kredete’s acquisition adds another player to South Africa’s regulated digital-asset sector.

For the fintech, the immediate objective is to expand stablecoin-powered payments and remittances for local users and businesses. Its longer-term progress will depend on launching services that meet customer needs while complying with local rules.

The acquisition also highlights a broader trend in African fintech: companies are investing in both payment technology and regulatory access as they expand across borders.

Stablecoins can support international settlement, but their usefulness still depends on reliable local payout networks, liquidity, compliance and customer protection.

Kredete’s next challenge will be turning its newly acquired regulatory foothold into payment services that operate at scale.

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Editorial Takeaway

Kredete’s South African acquisition strengthens its position in the country’s digital-asset market and supports its plans to expand stablecoin-powered payments.

The company is combining payment infrastructure with a locally licensed presence as it grows across Africa and other emerging markets.

The key development to watch is whether Kredete can turn that regulatory access into practical, compliant payment services for South African customers and businesses.