Stablecoins are becoming the buzzword in the African fintech startup space.
However, most of the infrastructure layer is not African. It is dominated by global infrastructure companies using African corridors as a growth market. For instance, Kulipa, Sorted Wallet, and Checker are all non-African-founded. The local builders are all tiny, early in the pre-seed and seed stages, and undercapitalized, with $170K–$4M each.
Mature fintech players like Flutterwave, Nala (Rafiki), and Cardtonic are now adopting stablecoins into their existing businesses. Africa’s stablecoin market is the fastest-growing in the world. Nigeria has had its first licensed and compliant Naira stablecoin, cNGN (Consortium Naira). In this article, Condia examines the stablecoin-focused startups that raised money in the first half of 2026.
This story is for Condia Insiders only.
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Last updated: June 29, 2026
