Nigerian Fintech Kredete Launches Africa’s First Stablecoin-Backed Credit Card.
Over $100M in volume processed, 300K+ users, and a VISA-powered leap into the future of African finance
Kredete, a fast-rising Nigerian fintech startup, has officially launched Africa’s first stablecoin, backed credit card, marking a major milestone in the continent’s digital finance evolution. Founded in 2023 by Adeola Adedewe, the company aims to reshape how Africans, especially immigrants, access and build credit through the use of stablecoin-powered cross-border payments.
Backed by VISA, Stellar, and Rain, Kredete’s new credit card allows users across more than 40 African countries to spend stable digital dollars, specifically $USDC, instantly at millions of merchants in over 100 countries. Transactions are settled in real time with foreign exchange conversion at the point of sale, making the product a seamless tool for global financial participation.
“Access to money shouldn’t stop at your country’s borders,” said Kredete CEO Adeola Adedewe.
“We’ve built a system that lets Africans store value in digital dollars and use those funds however and wherever they choose , instantly.”
From Cross-Border Credit Building to Global Payments
Kredete originally launched as a platform for African immigrants in the U.S. to send money affordably to 40+ countries while building credit in their new country of residence. Every transaction on the platform positively contributes to the user’s credit score, an innovative twist powered by blockchain’s transparency and automation.
Since its inception, the company has achieved remarkable growth:
- 300,000+ users onboarded
- $100M+ in transaction volume
- Average 23-point increase in user credit scores within six months
- $2.25 million in seed funding, raised in September 2023
- Selected for VISA’s Africa Fintech Accelerator (Cohort 3)
A Stablecoin Solution for Africa’s Volatile Currency Landscape
Kredete’s stablecoin-backed credit card reflects a broader trend in African fintech: rising demand for stable digital dollars as a hedge against inflation, currency depreciation, and fragmented banking systems. By leveraging $USDC on the Stellar blockchain, Kredete provides a practical, real-world use case for decentralized finance (DeFi) infrastructure in African markets.
This launch comes amid growing stablecoin adoption across the continent, with users seeking faster, cheaper, and more predictable alternatives to traditional remittance and payment rails.
What’s Next?
Kredete’s model, combining digital identity, DeFi rails, and global partnerships, is laying the groundwork for more inclusive financial systems in Africa and beyond. With a focus on borderless payments and credit accessibility, the startup is rapidly becoming a case study for how blockchain can address long-standing gaps in the global financial system.
As the company continues expanding its product offerings, its stablecoin-powered credit card may become a blueprint for other fintechs aiming to blend traditional financial access with next-gen blockchain efficiency.
