Visa, M-Pesa, and Onafriq launched a pilot program in 2026 using stablecoins to settle cross-border mobile transactions in the Democratic Republic of Congo (DRC), according to industry reports. The initiative aims to test whether blockchain-powered digital assets can make international money transfers faster and cheaper across Africa. The World Bank estimates that sending money across borders in Sub-Saharan Africa costs an average of nearly 8% of the transfer amount, making it the most expensive remittance corridor in the world.
World Bank Data Shows Sub-Saharan Remittance Costs Near 8%
Traditional cross-border transfers that rely on the SWIFT network often take days and require multiple intermediary banks, each extracting a fee. Blockchain-based settlement can process transactions in minutes at a fraction of the cost. For consumers using platforms like Safaricom's M-Pesa, the integration of stablecoins is intended to streamline back-end operations. If successful, the pilot could lead to quicker wallet top-ups, smoother international business transactions, and lower remittance costs, all while maintaining the familiar mobile money interface for everyday users.
Visa Partners With Yellow Card for Stablecoin Operations in Africa
The choice of the Democratic Republic of Congo for the pilot comes amid rapid growth in the country's mobile money adoption. The move aligns with Visa's broader push into digital currencies; the payments firm partnered with African cryptocurrency exchange Yellow Card to explore stablecoin treasury operations and international settlements.
Central Bank of Congo Seeks to Reduce Dollarization Amid Stablecoin Pilot
The initiative highlights an ongoing shift in regional financial plumbing as fintech operators increasingly build digital-dollar rails. However, it also presents a complex dynamic for local regulators. The Central Bank of Congo has actively sought to reduce the heavy dollarization of the DRC economy and boost the use of the local franc, whereas stablecoin solutions effectively embed a digital version of the U.S. dollar into the nation's fast-growing mobile transaction network.
FAQ
What did Visa, M-Pesa, and Onafriq launch in the DRC in 2026?
Visa, M-Pesa, and Onafriq launched a pilot program in 2026 using stablecoins to settle cross-border mobile transactions in the Democratic Republic of Congo, according to industry reports.
Why are remittance costs in Sub-Saharan Africa significant for this pilot?
The World Bank estimates that sending money across borders in Sub-Saharan Africa costs an average of nearly 8% of the transfer amount, making it the most expensive remittance corridor in the world. Blockchain-based settlement can process transactions in minutes at a fraction of the cost compared to traditional SWIFT network transfers.
How does the stablecoin pilot relate to the Central Bank of Congo's policy goals?
The Central Bank of Congo has actively sought to reduce the heavy dollarization of the DRC economy and boost the use of the local franc. Stablecoin solutions effectively embed a digital version of the U.S. dollar into the nation's fast-growing mobile transaction network, presenting a complex dynamic for local regulators.
