Tether, the largest company in the digital asset industry, and HoneyCoin, one of the fastest-growing African fintech platforms on a mission to build the operating system for money movement in frontier markets, are announcing a strategic collaboration aimed at accelerating access to digital assets across Africa.
The collaboration will see HoneyCoin integrate USD₮ (a U.S. dollar-pegged stablecoin) into its payment infrastructure.
The initiative seeks to enable merchants, both online and in brick-and-mortar settings, to accept stablecoin payments directly at the point of sale for the first time in many markets.
Under the partnership, HoneyCoin will launch a cashless point-of-sale (POS) platform that supports USD₮ payments and build supporting infrastructure, including QR code payment systems, real-time foreign exchange conversion from Kenyan shillings to USD₮, and enhanced merchant dashboards.
Many African economies confront persistent volatility in local currencies, limited access to formal banking services, and high costs associated with cross-border transactions.
Stablecoins, digital tokens pegged to fiat currencies, are increasingly viewed as a tool to mitigate these challenges by providing price stability, faster settlement times, and lower transaction costs compared with traditional financial systems.
Africa’s adoption of cryptocurrencies and stablecoins has accelerated in recent years. Between July 2024 and June 2025, the continent recorded more than $205 billion in on-chain transaction value, a roughly 52% increase year-on-year, underscoring rapid growth in digital asset use for payments, remittances and commerce.
“The rapid uptake of digital assets in Sub-Saharan Africa reflects a deep need for alternative financial solutions that enable easier cross-border transactions and access to foreign currency without the complexities of maintaining overseas bank accounts,” said Paolo Ardoino, CEO of Tether, in a statement.
At the heart of the partnership is the goal to make stablecoin acceptance as seamless as mobile money, which has become a mainstay of African digital payments. HoneyCoin’s platform will allow merchants to process USD₮ payments directly at checkout, giving consumers and businesses a broader set of payment options beyond cash, cards or mobile wallets.
The first phase of the rollout will initially focus on in-store stablecoin payments in Kenya, where HoneyCoin will pilot the POS solution among merchants across key urban and peri-urban markets.
Kenya has emerged as a fintech hub in East Africa, with high mobile penetration rates and widespread use of digital financial services. These conditions have made the country a fertile environment for innovations in payment technology and digital assets.
HoneyCoin’s CEO, David Makuku Nandwa, described the tie-up as a “pivotal moment for the future of payments in Africa,” emphasizing that the platform is designed to ensure firms can accept all customer-preferred payment methods while accessing tools that strengthen financial operations.
“Our work at HoneyCoin centers on solving two fundamental challenges: making sure businesses can accept every form of payment their customers want to use, and providing them with sophisticated tools to strengthen and scale their financial operations,” said David Makuku Nandwa.
“We’re bringing the same simplicity that mobile money offers to stablecoin acceptance, while giving African entrepreneurs access to the currency stability and global connectivity that digital dollars enable.”
Beyond Kenya, both companies have signaled plans to expand offerings throughout Africa. HoneyCoin’s existing platform already supports digital payments and financial tools in multiple markets and serves a growing base of enterprise clients.
The integration of USD₮ is expected to accelerate adoption across the continent by lowering barriers to digital financial services.
Tether has previously supported projects across Africa that address real-world problems and make global finance accessible to everyone.
This includes investing in Kotani Pay to revolutionize Africa’s Digital Asset Infrastructure and Cross-Border Payments, signing an MoU with Zanzibar eGovernment Authority (eGAZ), and signing an MoU to Advance Digital Asset Education and Blockchain Adoption.
As well as investing in Shiga Digital to Strengthen Africa’s On-Chain Financial Ecosystem, further solidifying Tether’s position as a global leader in promoting financial freedom.
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