Paga has announced a partnership with Sui Blockchain to integrate stablecoin-based financial services powered by Sui Dollar ($USDsui) into its payments ecosystem, marking a major blockchain-fintech collaboration within Africa’s digital finance sector.
The partnership will see Paga embed dollar-denominated payment infrastructure and tokenised financial products into its enterprise platforms and consumer applications, enabling users and businesses to access cross-border transactions and digital financial services without relying solely on traditional correspondent banking systems.
According to the companies, the integration will incorporate Sui Dollar into Paga’s enterprise API suite and consumer-facing applications, extending access to stablecoin-powered services across Paga’s network of more than 20 million users.
The collaboration reflects growing interest among African fintech companies in decentralised financial infrastructure as businesses seek alternatives to high transaction costs, foreign exchange volatility, and delays associated with traditional international payment systems.
Sub-Saharan Africa remains one of the world’s most expensive regions for remittance transactions, with cross-border transfer fees averaging about 6.4%, according to industry estimates.
Tayo Oviosu, Founder and Chief Executive Officer of Paga, says the partnership is aimed at addressing longstanding inefficiencies within African financial systems.
“The average Nigerian spends six weeks every year just paying bills,” Oviosu says.
“Cross-border transfers take three to five days at 6.4% in fees — twice the global average. Currency devaluation can erase a third of a schoolteacher’s life savings in a single year,” he adds.
The partnership is designed to provide businesses and consumers with access to more stable dollar-denominated financial services while reducing delays and conversion losses associated with conventional banking infrastructure, Oviosu says.
“We did not set out to build an app. We set out to build the rails — the infrastructure that other people could build banks, wallets, agents, and entirely new things on top of,” the Paga CEO says.
Under the agreement, the companies plan to focus on four major areas including dollar-denominated savings products, cryptocurrency-to-local currency liquidity services, tokenised real-world assets such as bonds and real estate investments, and global payment infrastructure for cross-border transactions.
The companies say the tokenised investment products are intended to improve access to financial instruments that have traditionally remained inaccessible to many retail investors across emerging markets.
Founded in 2009, Paga has grown from a mobile payments platform into a broader financial infrastructure provider supporting merchants, agents, and enterprise payment services across Africa.
The company says it processed more than $11 billion in payments and 169 million transactions in 2025, while its Paga Engine infrastructure currently supports payment operations for companies including Meta and Qatar Airways.
Mysten Labs, the company behind Sui, developed the Layer 1 blockchain platform to support high-volume transaction processing and smart contract applications.
Unlike traditional blockchain systems that process transactions sequentially, Sui’s architecture uses parallel transaction execution designed to enable faster settlement speeds and near real-time transaction confirmation.
The companies say the infrastructure is expected to support large-scale transaction volumes required for consumer and enterprise financial services across African markets.
The partnership also aligns with broader digital finance trends across Africa, where fintech companies are increasingly exploring blockchain infrastructure, stablecoins, and tokenised assets as part of efforts to improve financial inclusion and cross-border payment efficiency.
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