This stealthy African stablecoin startup already processed over $1B in cross-border payments

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TechCrunch 1d ago

This stealthy African stablecoin startup already processed over $1B in cross-border payments - TechCrunch

Quick Summary:

Juicyway, an African fintech that leverages stablecoin technology to power fast and cheap cross-border payments, is launching out of stealth after processing over $1 billion in transaction volume for thousands of African businesses over the last three years.

Ziegler shared that despite Andela’s success and raising hundreds of millions of dollars, bringing those funds into the continent for operations proved tricky.“It didn’t make sense that even though loads of solutions existed, they didn’t hit at the problem in a way that a Bamboo or Octa could trust,” added Johnson (Juicyway’s CEO) in an interview.“On a personal level, I’ve also felt this disparity.

As executives at Andela, an African-born but global marketplace for technical talent, and Bamboo, one of Africa’s largest retail stock brokerages, Justin Ziegler and Ife Johnson, respectively, saw firsthand the challenges their former employers faced when moving money across borders despite the numerous cross-border solutions in the market.