Global payments firm Visa Inc., mobile money operator M-Pesa and cross-border payments platform Onafriq are testing stablecoin-based settlement systems in the Democratic Republic of Congo as part of efforts to modernise cross-border digital payments in Africa.
The pilot, launched in the Democratic Republic of the Congo, links mobile money top-ups to stablecoin settlement in the background, allowing users to continue using familiar mobile money services while transactions are processed using blockchain-based infrastructure.
Visa says the initiative aims to bridge domestic mobile money systems with international payment networks, addressing long-standing challenges in cross-border transfers, remittances and business payments across the continent.
The system is being tested under a solution known as VisaPay, where mobile wallet top-ups are settled using stablecoins through backend infrastructure without changing the customer experience.
Visa Senior Vice President and Head of Solutions Godfrey Sullivan said mobile money has already transformed domestic payments across Africa but remains limited in enabling efficient cross-border transactions.
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He noted that stablecoins could become a key part of future payment infrastructure, adopted by banks, fintech firms and mobile network operators to reduce friction and costs in international settlements.
The Democratic Republic of Congo has been chosen as a testing ground due to its low financial inclusion levels and heavy reliance on cash-based transactions. Only about 30 percent of adults have access to formal financial services, compared with significantly higher rates in neighbouring East African economies.
Analysts say this makes the country a useful environment for testing how quickly new digital payment technologies can be adopted at scale.
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Africa remains the world’s largest mobile money market, accounting for about 67 percent of global transaction value and 74% of transaction volumes, according to industry data.
The sector is dominated by East Africa, which accounts for roughly two-thirds of transaction volumes across the continent, driven by widespread adoption of mobile wallets for payments, savings and remittances.
The pilot reflects a broader trend in African financial services, where fintech companies and global payment networks are increasingly experimenting with blockchain-based settlement systems to improve speed, reduce costs and support cross-border trade as regional economic integration deepens.
