African businesses struggling with slow, costly cross-border payments may find a new outlet in cryptocurrencies, as Lagos-based KuvarPay launches a payments platform that allows merchants to accept digital assets while settling instantly in local currencies.
The company said on Monday that its platform enables businesses across Africa and other emerging markets to receive crypto payments from global customers without holding digital assets on their balance sheets, addressing one of the biggest barriers to adoption — price volatility and settlement risk.
KuvarPay says it is positioning itself as a bridge between those worlds.
“The demand for crypto payment options has outpaced supply,” said Helen Davies, KuvarPay’s chief financial officer. “By partnering with merchants across Africa, we’re helping companies unlock revenue streams that were previously out of reach.”
The platform supports multiple blockchain networks and digital assets, allowing customers to pay in crypto while merchants receive settlement directly into local bank accounts. The company said funds are converted instantly, reducing exposure to sharp swings in digital asset prices.
For African businesses that depend on cross-border trade — from exporters and freelancers to digital service providers — the promise is speed and certainty. Traditional international transfers can take days to settle and often involve high fees, while dollar liquidity remains tight in several African economies.
“We’re not just launching a product; we’re unlocking opportunity,” said Azeez Aderemi, KuvarPay’s founder. “For the first time, businesses can confidently accept crypto payments and receive real, settled value in their bank accounts instantly and transparently.”
KuvarPay enters a crowded but fast-evolving fintech landscape, where established payment processors and crypto exchanges are racing to capture Africa’s growing digital economy. Rivals including Yellow Card, Flutterwave, and Paystack have expanded their cross-border offerings, though most still rely heavily on conventional banking rails.
Industry players say the appeal of crypto-based settlement lies in bypassing some of those constraints — if platforms can manage compliance and trust.
“What impressed us most was KuvarPay’s team — technically strong, commercially savvy, and deeply committed to market success,” said Lily Ngarambe, a representative at Yellow Card. “This launch signals real potential for industry-wide transformation.”
KuvarPay said it offers merchants payment links, invoicing tools, an online dashboard, and developer-friendly application programming interfaces, allowing companies to integrate crypto payments into existing checkout systems without overhauling operations. The infrastructure is designed to scale from start-ups and small businesses to large enterprises.
