ViFi Labs, a decentralised stablecoin protocol focused on building on-chain foreign currency exchange venues, has acquired OneRamp, a leading stablecoin payments provider in Africa. The deal is designed to position ViFi Labs as a dominant player in the $540 billion annual institutional stablecoin market spanning Africa and Latin America. By combining OneRamp’s user base and payment capabilities with ViFi’s protocol infrastructure, the companies aim to accelerate adoption in both retail and institutional segments.
OneRamp’s Role in Stablecoin Payments
Founded by Ugandan entrepreneurs Elias Hezron Opio and Jovan Mwesigwa, OneRamp enables users to spend stablecoins directly by converting them into mobile money or bank account transfers. Operating in Kenya, Nigeria, Uganda, and Tanzania, the company serves over 25,000 users and maintains an annualised revenue run rate of $1.2 million. This operational footprint provides ViFi Labs with an established distribution network in some of Africa’s fastest-growing fintech markets.
Complementary Strengths for Scale
According to ViFi Labs co-founder Varoun Hanooman, OneRamp acts as a key customer acquisition engine by providing direct access to end-users in active stablecoin markets. While ViFi focuses on building the infrastructure for market making and decentralised FX, OneRamp offers the distribution layer that makes these services easily accessible from a single interface. This synergy is expected to enhance user engagement and broaden the reach of ViFi’s protocol upon its launch.
Institutional and Ecosystem Opportunities
The acquisition also brings strategic positioning within broader crypto ecosystems. OneRamp is set to become a primary payment provider for Africa in Coinbase’s new Base App, giving millions of potential users seamless access to mobile money and banking integrations. While platform-agnostic, this alignment offers ViFi a clear growth path through Base’s network effects and cross-border transaction capabilities.
Tapping Into a Growing Market
Institutional adoption of stablecoins in Africa and LATAM is rising as businesses and governments explore more efficient, transparent, and secure payment rails. For ViFi, this acquisition is not only about expanding its footprint but also about positioning itself as the infrastructure layer for on-chain FX in economies where stablecoins are already central to commerce, savings, and remittances. As co-founder Tony Olendo noted, the integration of OneRamp’s capabilities will help ViFi deliver direct access to its protocol from day one.
The ViFi Labs–OneRamp deal marks a significant step in consolidating stablecoin infrastructure in high-growth regions. By merging ViFi’s decentralised FX vision with OneRamp’s proven on-the-ground payment channels, the partnership is poised to serve both institutional and retail demand at scale. As stablecoins continue to reshape cross-border transactions, ViFi’s strategy may help define the future of digital payments across Africa and Latin America.