Paga Enters Crypto Space Through Strategic Partnership with Blockchain Innovator

Paga, a leading fintech company in Africa, has announced a significant expansion into digital assets through a partnership with Sui, a blockchain network developed by US-based Mysten Labs. This move signals Paga’s commitment to building more inclusive and accessible financial solutions for the continent.

The announcement came during the Sui Live event in Miami on Thursday, marking Paga’s first formal venture into crypto since Tayo Oviosu transitioned to Group Chief Executive Officer (CEO) in April. According to Oviosu, this partnership will enable Paga to develop financial infrastructure that addresses key challenges facing African consumers and businesses.

Key Components of the Partnership:

• High-yield USD accounts: Users can earn interest on stablecoin holdings through USDsui, Sui’s new dollar-backed digital currency
• Seamless crypto conversions: Easy exchange between local currencies and digital assets
• Tokenized asset investments: Access to previously unavailable investment opportunities like real estate and renewable energy projects
• Improved cross-border payments: Faster, cheaper international money transfers for both consumers and businesses

Oviosu highlighted that this collaboration addresses a critical gap in the African financial landscape: “57% of African adults don’t have bank accounts. We see this not as a problem, but as the single largest financial greenfield market in the world.”

Paga currently processes $1.5 billion monthly and has facilitated over $42 billion in total payments since its founding in 2009—a significant foundation for immediate impact with the Sui partnership.

The launch of USDsui adds a competitive option to the stablecoin market, offering users both stability and yield-generating potential. This aligns with growing demand for digital dollar solutions that provide more than just price parity.

With this strategic move, Paga aims to tear down financial barriers and unlock greater economic opportunity for individuals and businesses across Africa—expanding access to modern financial tools while addressing currency volatility challenges.