Daya Stablecoin Payments has raised $2.4 million in a funding round to support its expansion across Africa, the company announced on July 7, 2026. The fintech firm, which facilitates cross-border transactions using stablecoins, intends to use the capital to develop its payment infrastructure and extend its reach into new markets on the continent.
The company operates by enabling businesses and individuals to send and receive payments using digital currencies pegged to stable assets like the US dollar. This approach is designed to mitigate the volatility often associated with cryptocurrencies while leveraging the speed and lower cost of blockchain-based transfers. Daya's service targets the persistent challenges of high fees and slow processing times that characterize many traditional cross-border payment corridors in Africa.
Africa's cross-border payment landscape is fragmented, with numerous currencies, varying regulations, and often reliance on correspondent banking networks that add cost and delay. The rise of mobile money in East and West Africa has improved domestic financial inclusion, but seamless regional transactions remain a hurdle. Initiatives like the African Continental Free Trade Area (AfCFTA) have increased focus on the need for efficient payment rails to support intra-African trade and remittances.
Stablecoins have emerged as one potential technological solution for such friction. By using a digital token that maintains a steady value, companies aim to offer a settlement layer that is faster and cheaper than conventional systems. Several African fintechs and financial institutions are exploring similar applications, though regulatory acceptance varies significantly across different jurisdictions.
The funding for Daya comes as investor attention in African fintech, while more selective than in previous years, continues to focus on infrastructure plays that address fundamental market inefficiencies. The round was led by the Serrari Group, according to the announcement. The specific use of proceeds will include technology development, compliance efforts, and market entry activities.
Regulatory clarity will be a critical factor for Daya's expansion plans. Central banks across Africa, including the Central Bank of Nigeria, the South African Reserve Bank, and the Bank of Ghana, are at different stages of formulating policies for digital assets. Some have launched pilot projects for central bank digital currencies, while others maintain a more cautious stance toward privately issued stablecoins.
The success of such ventures often depends on establishing partnerships with licensed financial institutions and money transfer operators to ensure final settlement in local currency. Daya did not disclose specific partner details in its announcement but indicated that building a robust network is a priority for the newly secured capital.
If successfully scaled, stablecoin-based payment systems could potentially reduce the cost and increase the speed of remittances into Africa, a market that receives over $100 billion annually, according to World Bank estimates. They could also facilitate payments for small and medium-sized enterprises engaged in regional trade. The practical impact, however, will hinge on user adoption, regulatory cooperation, and the reliability of the underlying technology.