Kredete Acquires South African Crypto Asset Licence to Expand Stablecoin Services

Kredete, a cross-border payments platform, has acquired an entity holding a Crypto Asset Service Provider (CASP) licence issued by South Africa’s Financial Sector Conduct Authority (FSCA). The all-share transaction was completed through a subsidiary focused on stablecoin infrastructure and digital asset development.

The acquisition gives Kredete a locally licensed structure as it prepares to expand its stablecoin-powered payment and remittance services in South Africa.

Stablecoin Payments Gain Ground in South Africa

Stablecoin use in South Africa has grown in recent years. On the MoneyBadger payment network, rand-backed stablecoins increased from 2% to 44% of crypto payment value over three years.

The country’s regulatory framework is also developing. By early 2026, the FSCA had approved approximately 310 of 533 CASP licence applications, according to the figures provided.

Kredete Builds Its Cross-Border Payments Platform

Founded in 2022 by Adeola Adedewe, Kredete aims to make financial services more accessible and affordable across emerging markets.

Its platform enables consumers, businesses and financial institutions to move, convert, hold and settle money across borders in real time. The company serves users in their home markets and diaspora communities that regularly send money internationally.

Tobi Adebowale, Kredete’s head of legal, said the acquisition reflects the company’s confidence in stablecoins as a developing part of Africa’s financial system. He said the company wants to provide faster, cheaper payments while maintaining secure and compliant infrastructure for diaspora communities and businesses.

South African Licence Adds to Kredete’s Regulatory Footprint

The acquisition builds on Kredete’s existing regulatory authorisations in other markets. The company holds Virtual Asset Service Provider and Payment Service Provider authorisations in Argentina, as well as an International Money Transfer Operator licence in Ghana.

By securing locally approved structures in each market, Kredete is pursuing a country-by-country approach to regulatory compliance as it expands its services.

Plans to Expand Stablecoin Services

Kredete plans to extend stablecoin-powered remittances and payment services to South African users and businesses. Its new subsidiary is expected to support the development of digital settlement infrastructure for cross-border transactions.

Stablecoins can help reduce friction in international payments, particularly where traditional banking channels involve higher costs or longer settlement times. However, their use depends on appropriate regulatory controls, reliable infrastructure and customer protection.

Kredete’s acquisition gives it a licensed entry point into South Africa as it seeks to meet demand for regulated digital asset services. Its next challenge will be turning that regulatory foothold into payment products that customers and businesses can use at scale.