Kredete, a real-time cross-border payments platform, has completed the acquisition of an entity holding a Crypto Asset Service Provider license issued by South Africa's Financial Sector Conduct Authority. The all-share transaction was conducted through a subsidiary dedicated to stablecoin infrastructure buildout and broader digital asset development. This step significantly expands Kredete's digital asset licensing footprint in one of Africa's most notable and regulated crypto asset markets.
Stablecoin Adoption Gains Momentum
South Africa has recorded swift growth in stablecoin usage over the past several years. On the MoneyBadger payment network, rand-backed stablecoins rose from 2% to 44% of crypto payment value within just three years. The Financial Sector Conduct Authority has approved roughly 310 of 533 Crypto Asset Service Provider license applications as of early 2026, reflecting a maturing and increasingly formalized regulatory landscape.
Kredete's Mission and Platform
Kredete was founded in 2022 by Adeola Adedewe with a mission to give individuals and businesses across emerging markets access to modern and affordable financial tools. Today, the company operates a unified platform that enables consumers, businesses, and financial institutions to move, convert, hold, and settle money globally in real time. The platform is designed to serve users both at home and abroad, including diaspora communities with recurring cross-border needs.
Leadership Perspective on Compliance
Tobi Adebowale, Head of Legal at Kredete, said the acquisition reflects the depth of the company's belief in the potential of stablecoins as the future of finance in Africa. He added that it underscores a commitment to delivering faster and cheaper payments to customers in South Africa. Adebowale also emphasized the company's dedication to providing secure and compliant financial infrastructure for diaspora communities and businesses across all operating markets.
A Market-by-Market Regulatory Approach
The newly acquired South African subsidiary adds to Kredete's expanding regulatory footprint across multiple jurisdictions. Kredete already holds Virtual Asset Service Provider and Payment Service Provider authorizations in Argentina, along with an International Money Transfer Operator license in Ghana. This market-by-market approach to compliance allows the company to operate through locally approved structures rather than relying on cross-border workarounds.
Plans for South African Users
With the acquisition complete, Kredete plans to expand stablecoin-powered remittance and payment services to users and businesses in South Africa. The company will continue building the infrastructure that connects diaspora communities to the markets they call home. Its new subsidiary is expected to play a central role in advancing secure, efficient, and inclusive digital settlement across the region.
Stablecoins as a Growth Driver
Stablecoins have become an increasingly important tool for digital payments in emerging markets where traditional banking rails can be slow or costly. Kredete's platform uses real-time settlement to reduce friction in cross-border transactions, and the South African license strengthens its ability to operate within a regulated framework. The acquisition positions the company to capture growing demand for compliant stablecoin services across the continent.
Kredete's licensed entry into South Africa signals a maturing phase for stablecoin-based financial services on the continent. The combination of a local Crypto Asset Service Provider license, existing authorizations in other jurisdictions, and a focus on real-time settlement positions the company to serve a growing base of users and businesses. As South Africa's regulatory framework continues to develop, Kredete's compliance-first strategy may help set a standard for responsible digital asset expansion across Africa and beyond.