Paga Plans Stablecoin Layer Using Usdc, Usdt, and USDSui

In Short

Paga says stablecoins could reduce the time and cost of cross border payments, and free up cash that fintechs lock up in prefunded accounts.

What Happened

Paga Founder and Group CEO Tayo Oviosu said stablecoins could change how fintechs move money across borders by cutting settlement times and reducing the need for prefunding.

He pointed to World Bank third quarter 2025 data showing that sending $200 to Sub Saharan Africa costs an average of 8.46% of the amount transferred, compared with a global average of 6.36%.

Oviosu said traditional cross border transfers “stack fees” across the sending bank, correspondent banks, foreign exchange spread, the receiving bank, and cash out costs. He added that settlement typically takes one to three days.

By contrast, he said moving a stablecoin costs less “because fewer parties are involved” and can take seconds. He also said stablecoin flows can reduce the need for prefunded balances. In his example, “a fintech in Hong Kong does not need to pre fund money with Paga in Nigeria” and can instead send stablecoins to Paga, while the recipient receives naira.

Oviosu also said stablecoins do not solve everything. He said recipients usually want local currency in an account, so firms still need deep local liquidity to avoid price movement during conversion. He added that access to foreign exchange depends on central bank policy, and that firms need licences in each country plus KYC and sanctions screening that meet each regulator’s requirements.

In additional comments from the same interview, Oviosu said Paga Engine supports converting African local currency into dollars and back for global payment connectivity. He said Paga is preparing to launch a stablecoin layer with USDSui, USDC, and USDT on the Sui and Solana blockchains.

Why It Matters

For African fintechs, prefunding can tie up capital that could otherwise support growth or operations. If stablecoin transfers reduce that need, payment providers may be able to run cross border corridors with less cash sitting idle.

Oviosu’s comments also highlight that stablecoins still rely on local rails, licences, and liquidity to deliver usable local currency payouts. That means stablecoin adoption in Africa will depend as much on regulation and market plumbing as it does on blockchain speed.