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Circle Forms First Africa Partnership With Cassava Technologies for USDC Payments

According to Cointelegraph, Circle and Sasai Fintech are integrating USDC into payment infrastructure to support faster, lower-cost cross-border transfers, business payments, and mobile wallet services in African corridors.

USDC

Summary

Circle’s partnership with Sasai Fintech, part of Cassava Technologies, is aimed at integrating USDC into payment infrastructure for cross-border transfers, business payments, and mobile wallets in African markets. According to Cointelegraph, the initiative is intended to reduce transaction costs and settlement times in African payment corridors. The existing topic also states that, according to Bloomberg, Sasai Fintech Ltd. business customers will use USDC for domestic and cross-border payments across 30 African markets.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin used for digital payments, transfers, and settlement on blockchain-based infrastructure.
  • Stablecoin: A cryptocurrency designed to maintain a stable value, commonly by being pegged to a fiat currency such as the U.S. dollar.
  • Cross-border payments: Payments sent between countries; blockchain-based systems are often used to lower transfer costs and shorten settlement times.