Paga, one of Africa’s oldest fintechs, has partnered with Sui, the blockchain network built by US-based Mysten Labs, as it pushes into crypto payments, stablecoin yields, and asset tokenisation.
The partnership was announced at the Sui Live event in Miami, the United States, on Thursday. It marks Paga’s first formal move into crypto since Tayo Oviosu transitioned to Group Chief Executive Officer (CEO) in April.
Oviosu said the partnership will help Paga build financial rails that help Africans hedge against currency instability that erodes wealth, unlock opportunity in global commerce, fix cross-border payments, and expand access to alternative financial products.
“These are the walls of the cage, and until we tear them down, financial freedom on this continent is incomplete,” Oviosu said during a presentation at Sui Live. “Tearing down these walls is not a job we can do on our own; it requires the right rails, the right partner, the right technology that is fast enough, cheap enough and global enough to serve 1 billion people. We found that partner—Paga and Sui.”