Key takeaways
- Visa, M-Pesa and Onafriq have launched a pilot project in 2026 using stablecoins for mobile transactions in the DRC.
- Remittances in sub-Saharan Africa cost almost 8%, making this blockchain initiative a major disruption for SWIFT.
- Next, partners like Yellow Card will test whether digital dollars conflict with the Central Bank’s local franc push.
Blockchain meets mobile money
Financial services giant Visa, mobile money platform M-Pesa and pan-African payment network Onafriq have launched a pilot program using stable coins to settle cross-border mobile transactions in the Democratic Republic of Congo (DRC), according to industry reports. The initiative marks the latest move by major financial players to test whether blockchain-powered digital assets can do faster and cheaper international money transfers across Africa.
For consumers using platforms like Safaricom’s M-Pesa, the integration of stable coins is intended to streamline back-end operations. If successful, the pilot could lead to faster wallet top-ups, smoother international business transactions and reduced remittance costs, while retaining the mobile money interface familiar to everyday users.
The World Bank estimates that sending money across borders in sub-Saharan Africa costs on average almost 8% of the transfer amount, making it the most expensive remittance corridor in the world. Traditional cross-border transfers that rely on SWIFT Network this often takes days and requires several intermediary banks, each charging a fee. Blockchain-based settlement can process transactions in minutes at a fraction of the cost.
The choice of the Democratic Republic of Congo for the pilot comes amid rapid growth in mobile money adoption in the country. This also aligns with Visa’s broader push into digital currencies; the payment company has partnered with African cryptocurrency exchange a yellow card to explore stable coin treasury operations and international settlements.
The move highlights an ongoing shift in regional financial plumbing as fintech operators increasingly build digital dollar rails. However, this also presents complex dynamics for local regulators. The Central Bank of Congo has actively sought to reduce the high dollarization of the DRC economy and stimulate the use of the local franc, while stable coin The solutions effectively integrate a digital version of the U.S. dollar into the country’s rapidly growing mobile transaction network.
