Kredete Secures South African Crypto Licence to Roll Out Stablecoin Payments

Nigerian fintech [Kredete](https://kredete.io) has obtained a South African Crypto Asset Service Provider licence by purchasing a local company, creating a regulated base to introduce stablecoin‑powered payment and remittance solutions in South Africa.\n\nThe deal, executed through a Kredete subsidiary that specialises in stablecoin infrastructure, was structured as an all‑share acquisition. The new licence will allow the firm to offer individuals and businesses in South Africa faster, cheaper cross‑border transfers using its digital‑asset platform.\n\nSouth Africa is currently formalising its regulatory framework for cryptocurrencies, positioning the market as one of the most mature crypto‑friendly jurisdictions on the continent. The acquisition aligns Kredete with the country's evolving rules overseen by the [Financial Sector Conduct Authority (FSCA)](https://www.fsca.co.za).\n\n**What funding supports this expansion?**\n\nThe South African move follows a $22 million Series A round led by [AfricInvest](https://www.africinvest.com) with participation from Partech and Polymorphic Capital. The capital was earmarked for entry into Canada, the United Kingdom and other European markets, as well as for scaling the firm’s stablecoin‑based remittance infrastructure for African diaspora communities.\n\n**How is Kredete building its regulatory footprint?**\n\nBeyond South Africa, the fintech already holds virtual‑asset service provider and payment service provider authorisations in Argentina and an International Money Transfer Operator licence in Ghana. These licences are pursued market‑by‑market to ensure compliance and security.\n\nTobi Adebowale, Head of Legal at Kredete, said the acquisition “reflects the depth of Kredete’s belief in the potential of [stablecoin](https://en.wikipedia.org/wiki/Stablecoin) as the future of finance in Africa and underscores our commitment to delivering faster and cheaper payments to our customers in South Africa.” He added that the move “demonstrates our dedication to providing secure and compliant financial infrastructure for the diaspora communities and businesses we serve, both in South Africa and everywhere else we operate.”\n\nFounded by Adeola Adedewe, Kredete operates a cross‑border payments platform that enables consumers, businesses and financial institutions to move, convert and settle money internationally. The company now supports transactions to more than 60 countries and has raised a total of $24.75 million in funding.