SCRYPT announced on July 14 that it has expanded its licensed stablecoin settlement infrastructure across four East African markets, broadening cross-border payment capabilities for banks, payment providers and corporate treasury teams.
The expansion enables real-time settlement between local currencies and stablecoins, addressing one of the region's longstanding challenges: limited access to U.S. dollar liquidity for international payments.
In many African markets, cross-border transactions remain constrained by volatile local currencies, restricted access to U.S. dollars and the high cost and slow processing times associated with correspondent banking networks. Businesses often must first convert local currencies into U.S. dollars before purchasing stablecoins, creating additional foreign exchange costs and delays.
SCRYPT said its infrastructure removes this intermediary step by allowing direct conversion from local African currencies into stablecoins through licensed settlement corridors. The approach enables businesses to complete local currency-to-stablecoin settlement within a single regulated transaction without first securing U.S. dollars through the banking system.
"Across Africa, stablecoin adoption is driven by economic need, not speculation," said Norman Wooding, founder and CEO of SCRYPT. "Businesses here are focused on paying suppliers and managing treasury operations while reducing the costs associated with limited dollar liquidity."
The latest expansion introduces settlement support for four additional African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). According to the company, the new payment corridors are integrated into the same infrastructure clients use for digital asset trading, custody and treasury management.
"Until now, accessing stablecoins from local African currencies required purchasing scarce U.S. dollars and paying multiple conversion costs," said Gabriel Titopoulos, Managing Director of Markets & Trading at SCRYPT. "The new settlement corridors allow businesses and payment providers to move directly from local currencies into stablecoin settlement through licensed local partners."
The company said the expansion reflects the growing role of stablecoins as settlement infrastructure for commercial payments rather than solely as investment assets. By extending licensed payment corridors across East Africa, SCRYPT aims to improve the efficiency of cross-border capital movement for financial institutions, payment providers and multinational businesses operating in the region.
