Making Crypto Practical for African Businesses

Rach Finance is tackling a common pain point in Africa’s growing crypto market—the difficulty of spending stablecoins like USDT and USDC. Founded by Keji Pius and Martins Chigoziem, the startup provides businesses with a payment gateway that allows them to accept these digital currencies while receiving settlements in local currency.

The Problem Stablecoins Face

When Pius found herself stranded in Zambia with only USDT in her wallet, she experienced firsthand what many crypto users face: stablecoins are difficult to spend directly. Converting between different currencies creates friction and limits the usability of these digital assets.

Market Opportunity

Despite this challenge, adoption of stablecoins is rising rapidly across Africa. In 2024, they accounted for 43% of all crypto transaction volume in Sub-Saharan Africa—a $205 billion market that grew by 52% year-over-year.

Businesses are increasingly using stablecoins for operations like:

• Supply chain payments
• Liquidity management
• Hedging against currency volatility

McKinsey and Artemis estimate that business-to-business (B2B) stablecoin payments represent a $226 billion annual market globally, with significant potential for growth.

Rach Finance’s Solution

The startup offers a payment gateway that enables merchants to accept USDT/USDC while receiving payouts in their preferred local currency. This approach addresses both consumer demand and merchant needs by providing a practical way to use stablecoins in everyday transactions.

One Lagos food vendor who partnered with Rach saw immediate results—long-time customers who never knew they could pay with crypto started using the option once it became visible.

Learning from Previous Efforts

The founders acknowledge that building payment infrastructure for crypto in Africa has proven challenging for others. They’re taking a focused approach, targeting businesses that specifically need stablecoin payment solutions rather than trying to serve everyone with crypto.