Kora Launches One Rail to Enable Stablecoin Payments for African Merchants
Kora, a pan-African payment infrastructure provider based in Dubai, has launched One Rail, an expansion of its platform that supports stablecoins. The new feature allows merchants across Africa to collect, hold, convert, and settle funds using digital currencies alongside traditional fiat systems. This addresses key challenges such as slow international settlement times, high foreign exchange costs, limited USD liquidity access, and fragmented financial infrastructure on the continent. One Rail initially supports USDT and USDC stablecoins, with plans to add more based on demand and regulatory readiness. The platform is designed for ease of use by non-technical teams through Kora's existing APIs and developer tools. Merchants can generate dedicated wallets, track payments in real-time, reconcile transactions automatically via the Kora Dashboard, and convert digital balances into local fiat currencies for settlement. Kora CEO Dickson Nsofor highlighted that cross-border commerce in Africa faces high remittance costs compared to global averages while stablecoin adoption is rising. One Rail aims to reduce friction by integrating stablecoins into existing payment systems, enabling faster and more cost-effective transactions across the continent.
Topics: africa_economy cross-border_payments digital_currency stablecoins