Kredete Launches Stablecoin-Backed Credit Card for Africans
TLDR
- Nigerian fintech Kredete has launched a stablecoin-backed credit card designed to enable Africans to store and spend digital dollars globally
- Kredete helps African immigrants in the U.S. build credit through stablecoin-powered money transfers
- The new credit card links directly to a user’s digital wallet and settles payments in USDC, with real-time foreign exchange conversion
Nigerian fintech startup Kredete has launched a stablecoin-backed credit card designed to enable Africans to store and spend digital dollars globally. The product was built in partnership with Visa, Stellar, and Rain.
Kredete, founded in 2023 by Adeola Adedewe, helps African immigrants in the U.S. build credit through stablecoin-powered money transfers. Users can send funds to over 40 countries at low fees, with each transaction contributing to their credit profile in their new country.
The new credit card links directly to a user’s digital wallet and settles payments in USDC, with real-time foreign exchange conversion at the point of sale. It allows both online and offline purchases across more than 100 countries using a Visa card format.
“Access to money shouldn’t stop at your country’s borders,” said Adedewe. “We’ve built a system that lets Africans store value in digital dollars and use those funds however and wherever they choose – instantly.”
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Key Takeaways
Kredete’s card launch marks a broader shift in how stablecoins are being integrated into everyday financial products for African users. With many countries on the continent facing currency volatility, dollar-backed stablecoins like USDC offer a way to preserve value and simplify international payments. Cross-border financial inclusion remains a major challenge. According to the World Bank, remittance fees to Sub-Saharan Africa remain among the highest globally, averaging over 7% in 2023. Stablecoins offer a lower-cost alternative with faster settlement times. By partnering with Visa and using blockchain rails, Kredete connects the crypto economy with traditional payment infrastructure. This hybrid model provides users with the familiarity of card-based payments while leveraging the speed and cost advantages of stablecoins. As regulators across Africa assess crypto’s role in the financial system, Kredete’s card could signal how blockchain-based tools are maturing beyond speculation, offering practical financial access for the globally mobile.
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