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Reading: This stealthy African stablecoin startup already processed over $1B in cross-border payments
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African News Herald > Blog > Technology > This stealthy African stablecoin startup already processed over $1B in cross-border payments
Technology

This stealthy African stablecoin startup already processed over $1B in cross-border payments

ANH Team
Last updated: February 10, 2025 8:28 pm
ANH Team
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Juicyway, a fintech company based in Africa, is making waves in the cross-border payments industry by leveraging stablecoin technology to facilitate fast and affordable transactions. With over $1 billion in transaction volume processed for thousands of African businesses in the last three years, Juicyway is now emerging from stealth mode.

The company boasts of processing over 25,000 transactions, totaling $1.3 billion in payment volume from 4,000 users. Despite operating without a public app or marketing campaigns, Juicyway has grown organically through word-of-mouth referrals and strategic acquisitions of existing customer bases.

Now, after three years of operating in stealth mode, Juicyway is publicly launching with a roster of prominent clients, including corporates like Bolt and IHS, fintechs such as Piggyvest and Bamboo, and energy and logistics company Mocoh SA.

One of the key features of Juicyway is its ability to provide liquidity for businesses engaging in cross-border transactions. By utilizing stablecoin technology, the platform allows users to send, receive, and process payments globally, supporting both fiat currencies and cryptocurrency transactions.

Africa currently accounts for less than 1% of the global currency market, in part due to a lack of liquidity for intra-African currency pairs. Juicyway aims to address this challenge by providing access to liquidity pools for local and international payments, covering currencies like Nigeria’s naira, USD, GBP, and CAD.

In addition to offering real-time exchange rates based on market demand, Juicyway partners with financial institutions like Access Bank, Bridge, and Lead Bank to facilitate secure and compliant transactions. By prioritizing compliance and risk management, Juicyway ensures a seamless and secure payment experience for its users.

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The company generates revenue through processing and payment fees, with plans to explore additional revenue streams such as earning interest on customer balances. With the recent success of other fintech startups leveraging stablecoin technology in Africa, Juicyway aims to solidify its position as a leading player in the cross-border payments market.

Backed by early-stage investors like P1 Ventures, Ventures Platform, and Future Africa, Juicyway is poised for further growth and expansion across Africa and beyond. As the fintech landscape continues to evolve, Juicyway remains committed to increasing African participation in the global economy through innovative payment solutions and strategic partnerships.

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