Nigerian Stablecoin Startup, IvoryPay, Secures Investment from Hedera After Processing Over $80 Million from 8K+ Merchants

IvoryPay’s Rapid Growth in Africa’s Crypto Payments Scene

IvoryPay, a blockchain-powered payment and remittance platform enabling businesses across Africa to accept stablecoin payments, has secured a strategic investment from Hedera, a leading decentralized ledger network. This investment marks a significant milestone for IvoryPay as it continues to expand its influence in the African fintech space.

Founded in 2022, IvoryPay has rapidly grown, processing over $80 million in transactions and onboarding more than 8,000 merchants across Nigeria, Ghana, Kenya, and South Africa. With a mission to simplify cross-border transactions, IvoryPay enables businesses to accept, transact, and settle in stablecoins, which account for approximately 43% of the total cryptocurrency transaction volume in sub-Saharan Africa.

A Strategic Partnership for Scalable Blockchain Payments

As part of this partnership, IvoryPay will integrate Hedera’s distributed ledger technology into its platform to enhance efficiency, scalability, and security. Additionally, a Hedera representative will join IvoryPay’s board of advisors, further strengthening the startup’s strategic direction and governance.

IvoryPay’s platform is designed for seamless integration with e-commerce, retail, remittance, and traditional payment gateways, offering businesses of all sizes faster settlements and cost-efficient transactions. This makes stablecoin payments more accessible and practical for everyday commerce across the continent.

Beyond its core payment gateway, IvoryPay is expanding its product offerings with:

• Duffle Crypto Payment App – A simplified interface for merchants and users to conduct crypto transactions effortlessly.
• Crypto POS Terminals – Physical devices enabling merchants to accept crypto payments in retail and offline settings.
• Crypto ATMs – Providing easy fiat-to-crypto conversions for wider accessibility.

Industry Leaders React to the Collaboration

Commenting on the partnership, Oluwatobi Ajayi, CEO and Co-Founder of IvoryPay, said:

“We’re excited to welcome Hedera on board as we continue to scale our payment infrastructure and reach more African markets. Their support bolsters our mission to bring secure and transparent financial services to everyone, especially in regions where the benefits of digital currencies can truly transform day-to-day transactions.”

With Hedera’s high-throughput, low-cost, and enterprise-grade blockchain technology, IvoryPay aims to improve its platform’s transaction speed, security, and reliability. This move is expected to significantly boost the adoption of stablecoin-based payments across Africa’s rapidly evolving digital economy.

Driving Financial Inclusion Through Blockchain Innovation

Through this collaboration, IvoryPay and Hedera will work together to:

• Enhance IvoryPay’s technical infrastructure to handle larger transaction volumes.
• Expand services to additional African markets, increasing financial inclusion.
• Develop innovative blockchain-based payment solutions tailored for African businesses.
• Strengthen compliance frameworks to ensure secure and reliable transactions.

A Hedera spokesperson emphasized the broader vision behind the investment:

“Investing in IvoryPay is part of our commitment to driving real-world blockchain use cases that foster financial inclusion. We are confident that IvoryPay’s solutions, backed by our state-of-the-art distributed ledger technology, will help revolutionize payment systems and empower millions of people and businesses in emerging markets.”

A Growing Market for Stablecoin Payments

IvoryPay’s expansion comes at a time when stablecoins are gaining significant traction in Africa. The demand for stable, low-cost, and borderless digital payments continues to grow as businesses and individuals seek alternatives to traditional banking inefficiencies and high remittance costs.

With Hedera’s support, IvoryPay is well-positioned to scale its operations and bring innovative financial solutions to millions across the continent, reinforcing blockchain’s role in reshaping Africa’s digital economy.

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