The Democratic Republic of Congo is now the testing ground for what may be the most significant shift in African cross-border payments in years. Visa, M-Pesa, and pan-African payments company Onafriq have launched a stablecoin pilot in the DRC, using blockchain technology to settle international mobile money transactions without relying entirely on traditional banking rails.
The three partners are testing whether stablecoins β digital currencies whose value is pegged to assets like the US dollar β can make cross-border transfers faster, cheaper, and less dependent on multiple intermediaries. Unlike volatile cryptocurrencies such as Bitcoin, stablecoins hold their value, making them practical for real-world payments.
What the Pilot Actually Changes
For everyday M-Pesa users in the DRC, the practical promise is straightforward: quicker wallet top-ups, cheaper remittances, and smoother international transactions β all without changing the familiar mobile money interface they already use. The technology works in the background, replacing slow legacy settlement systems with blockchain-powered rails.
Onafriq, which connects hundreds of millions of bank accounts and mobile money wallets across Africa, is providing the payment infrastructure that underpins the entire project. Its role is critical β without that existing network of connections, the stablecoin layer would have nowhere to plug into.
Why the DRC, and Why Now
The choice of the DRC is not random. Mobile money adoption in the country has been climbing fast, even as millions of people remain entirely outside the traditional banking system. Visa had already planted a flag there β the payments giant recently launched Visa Pay in the DRC, a service that links bank cards with mobile money wallets. The stablecoin pilot builds directly on that foundation.
For Safaricom and Vodacom, the companies that jointly operate M-Pesa, the pilot represents another push to transform the service from a mobile wallet into a full regional financial platform. M-Pesa has been expanding aggressively β including into Ethiopia β and its operators have been investing in infrastructure that makes international payments more affordable at scale.
Visa's Broader Stablecoin Push in Africa
This is not Visa's first bet on stablecoins across the continent. In June 2025, Visa partnered with African fintech Yellow Card to explore stablecoin use cases in Africa, with a focus on treasury operations and cross-border settlements. The DRC pilot with M-Pesa and Onafriq deepens that strategy considerably.
M-Pesa itself has also been moving fast. Earlier in 2025, the mobile money service entered a stablecoin partnership with a UAE-based firm β its first major step into blockchain-powered financial services. The DRC pilot is the next logical move in that direction, as explored in our coverage of Africa's emerging fintech infrastructure.
CBN Revokes Licences; Zain Moves Into Syria
Elsewhere in African fintech, Nigeria's Central Bank of Nigeria (CBN) has revoked the operating licences of three financial institutions: NowNow, Sycamore, and OurPass. The CBN has not issued a detailed public statement on the specific reasons, but the move signals continued regulatory tightening around digital financial services in Nigeria's crowded fintech sector.
On the telecoms front, Kuwaiti giant Zain is set to expand into Syria, stepping into a market that MTN has exited. The move gives Zain a foothold in a territory that larger pan-African operators have pulled back from, continuing a pattern of strategic repositioning across the Middle East and African telecom corridors.
What Comes Next for Stablecoin Payments in Africa
If the DRC trial delivers results, Visa, M-Pesa, and Onafriq are expected to consider rolling out stablecoin settlements across additional African markets. The continent's cross-border payment problem β slow, expensive, and riddled with intermediaries β is well-documented, and this pilot is one of the most high-profile attempts yet to solve it with blockchain infrastructure.
The stakes are real. Businesses, families, and traders moving money across African borders every day stand to benefit directly if this works. The DRC is just the beginning.