The collaboration, formalized through a Memorandum of Understanding (MoU), is set to transform cross-border trade flows and unlock new financial opportunities between Africa and Asia.
Fincra , a leading African payments infrastructure provider, has entered into a landmark partnership with Reap , a global fintech recognized for its blockchain-powered business account solutions. The collaboration, formalized through a Memorandum of Understanding (MoU), is set to transform cross-border trade flows and unlock new financial opportunities between Africa and Asia.
The agreement represents Reap’s first strategic foothold in Africa and unites its stablecoin-driven infrastructure for card and international payments with Fincra’s deep regional expertise and payment rails. Together, the companies plan to co-develop innovative products — including Card-as-a-Service (CaaS) platforms and programmable spending solutions — tailored to the needs of African fintechs and small businesses.
By combining capabilities, the partnership directly addresses one of Africa’s most pressing challenges: the high cost of remittances. Sub-Saharan Africa remains the world’s most expensive remittance corridor, with average fees of 8.37% in mid-2024. This has accelerated the rise of stablecoin adoption, with the region accounting for 43% of all global crypto transactions last year. Stablecoins offer a low-cost, near-instant alternative for cross-border transfers, perfectly suited to the continent’s mobile-first financial ecosystem.
With Nigeria as the initial launch market, both firms envision scaling their joint solutions to additional African countries, building stronger financial bridges across the Africa-Asia corridor. The partnership not only deepens trade connectivity but also empowers African businesses to access flexible, global-ready payment tools.
