Cassava Technologies, the company founded by Zimbabwean billionaire Strive Masiyiwa, has partnered with US fintech firm Circle Internet Group to expand the use of stablecoins across Africa, in a move aimed at improving digital payments and cross border transactions on the continent. Reports say the partnership will focus on integrating Circle’s USDC stablecoin into Sasai Fintech, Cassava’s digital payments business.
The agreement marks Circle’s first major push into Africa and comes as interest in stablecoins grows in several emerging markets. Cassava operates across more than 30 African markets, giving the partnership a potentially wide reach as both companies try to tap into demand for faster and cheaper ways to move money.
The business case is tied closely to Africa’s payment challenges, where cross border transfers can be expensive, slow, and fragmented. Stablecoins such as USDC are designed to hold a steady value, usually linked to the US dollar, which makes them attractive for digital payments, remittances, and trade settlement. Reuters reported in February that demand for stablecoins is already rising strongly in countries such as Nigeria and South Africa.
For Cassava, the partnership adds another layer to its broader digital infrastructure ambitions, while for Circle it opens a new regional growth market at a time when global fintech firms are looking beyond North America and Europe. The deal also highlights how African financial technology is increasingly attracting international partnerships centered on digital dollars and blockchain based payment tools. This last point is an inference based on the reported partnership and the broader growth in stablecoin demand in Africa.
