Sending money across African borders is still slow and costly. A stablecoin giant has now put money behind a South African firm that wants to change that.
CrissCross, a South African payments firm, has raised an undisclosed sum from Circle Ventures, the investment arm of stablecoin issuer Circle. The money will help it grow its payment network. It will also speed up the use of stablecoins for business payments across Africa. The amount and valuation were not shared.
CrissCross sells payment tools to businesses through a single API. They cover local collections, automated payouts and treasury services with live currency exchange. The firm links blockchain settlement to local payment networks. Money can then land in bank accounts and mobile wallets. It says it works in more than 30 African markets and supports over 20 currencies. It also claims 99.99% uptime. Clients include multinational firms, banks and payment platforms.
The money came in through Stitch Group, CrissCross’s parent company. James Cope, the firm’s general manager, called Africa’s cross-border payments market “massive, complex, and underserved.” He said the deal backs the tools the firm has built. Brian Schultz, a Circle vice president, said Circle is excited to help CrissCross bring stablecoin payments to scale.
Why do stablecoins matter here? They are digital tokens tied to a steady asset, such as the US dollar. Firms use them to move value fast where currencies swing, cash is scarce and bank links are thin. Even so, the last step still relies on local payment systems and rules. A coin may cross a border in seconds. A business still needs a way to pay out in naira, rand or shillings. CrissCross says it fills that gap.
The deal follows a busy few months. In August, CrissCross teamed up with Borderless, a stablecoin network. Borderless clients now tap CrissCross’s links to local banks and more than 15 mobile-money firms, including M-Pesa, MTN MoMo and Airtel Money. In October, CrissCross also joined hands with Velocity, a London-based stablecoin payments platform.
Circle Ventures is no stranger to Africa. In July 2026, Flutterwave said it had won a strategic investment from the same fund to expand USDC settlement. Together, the two deals show Circle betting on firms that move money in Africa.
Why it matters: African businesses lose time and money moving funds across borders. Many still rely on a patchwork of banks and costly middlemen. A backer like Circle gives stablecoin payments firmer footing. It also tells other investors that African payment tools are worth funding. For fintech founders, the lesson is clear: infrastructure, not just consumer apps, can draw global capital.
What to watch next: how CrissCross spends the new money and which markets it adds. Also watch whether it shares transaction volumes, and how African regulators treat stablecoin payments.
Sources: TechAfrica News on the CrissCross investment; The Condia on CrissCross and Circle Ventures; Capital Ethiopia on CrissCross and Borderless; Financial Afrik on Velocity and CrissCross; TechEconomy on Flutterwave and Circle Ventures.
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