ViFi Labs, a decentralised stablecoin protocol, has announced the acquisition of OneRamp, a Uganda-based stablecoin payments platform serving over 25,000 users across East and West Africa. This bold acquisition not only marks a significant milestone for ViFi Labs but also signals a transformative shift in Africa’s crypto economy, as stablecoins continue to bridge the gap between blockchain innovation and real-world financial solutions.
The acquisition will create on-chain access to foreign exchange (FX) and deliver practical, compliant crypto payment solutions at scale.
ViFi Labs Is Powering Cross-Border Crypto Infrastructure
ViFi Labs is a decentralised protocol focused on foreign currency and stablecoin trading, with a mission to democratize access to FX liquidity across emerging markets. The protocol builds on-chain FX swap venues, tools that allow users, businesses and individuals alike to seamlessly trade stablecoins with transparency, scalability, and security.
The protocol works by connecting local stablecoins to deep decentralized finance (DeFi) liquidity pools, enabling users to access optimal exchange rates regardless of transaction volume. This makes it an especially attractive tool for emerging markets where currency volatility, limited FX access, and inflation often disrupt economic stability.
ViFi Labs’ acquisition of OneRamp represents a shift from infrastructure-building to full deployment, a move that extends the company’s reach directly into the African market, where stablecoin use is not just experimental but increasingly essential.
OneRamp Crypto Payments for the Real World
Founded by Ugandans Elias Hezron Opio and Jovan Mwesigwa, OneRamp simplifies crypto adoption by connecting stablecoin payments to everyday financial infrastructure such as mobile money and local banking systems.
Operating in Kenya, Uganda, Nigeria, and Tanzania, the platform allows users to convert stablecoins into local currency and spend them through fast, seamless mobile transactions, a critical feature in Africa, where mobile money adoption outpaces traditional banking. With a $1.2 million annual revenue run rate and a loyal user base, OneRamp has proven that there is real demand for simplified crypto utility in day-to-day transactions.
According to ViFi Labs Co-founder Tony Olendo, the acquisition provides the protocol with “direct access to high-growth markets in Africa, where demand for stablecoin use is already proven.” He added that the move will allow ViFi Labs to “unlock compliant, on-chain access to FX and payments at scale.”
A Strategic Alliance for Scalable and Compliant Growth
The integration of OneRamp into ViFi Labs’ ecosystem is not just about market penetration, it’s about infrastructure depth and regulatory readiness. In emerging economies where regulatory frameworks for crypto remain patchy or inconsistent, staying compliant while scaling is a delicate balancing act.
By combining ViFi’s DeFi expertise with OneRamp’s on-the-ground experience and regulatory understanding, the two platforms aim to build a sustainable, scalable, and secure model for stablecoin adoption in real economies.
Co-founder Elias Hezron explained, “Joining forces with ViFi Labs allows us to supercharge our mission of making stablecoin payments accessible, simple, and secure for users across Africa.”
This sentiment was echoed by fellow co-founder Jovan Mwesigwa, who highlighted the startup’s decision to expand into the Base ecosystem, recently launched by Coinbase. “OneRamp will stay open to all platforms, but joining the Base ecosystem gives us an incredible opportunity to reach more users, both across Africa and globally,” he said.
The Rise of Stablecoins in Africa
To understand why this acquisition matters, one must look at the meteoric rise of stablecoin adoption in Africa, particularly in regions like East Africa, where currency depreciation, capital controls, and inflationary pressures are a daily reality.
Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, stablecoins are pegged to fiat currencies (usually the US Dollar), offering low volatility and faster transaction speeds. For users in Africa, they provide a reliable store of value and an efficient payment mechanism for remittances, trade, and savings.
Across the continent, stablecoins have found strong and practical use cases, emerging as vital tools for individuals and businesses navigating Africa’s often volatile financial environment.
One of the most significant use cases is cross-border trade. Small businesses importing goods from regions like China and the Middle East increasingly rely on stablecoins to settle payments efficiently. These digital assets bypass traditional banking delays and reduce high transaction costs, offering a faster and more reliable way to conduct international commerce.
Stablecoins have also revolutionised remittances. By offering a cheaper and quicker alternative to legacy providers such as Western Union, they allow families to send and receive money across borders with minimal fees and near-instant processing. This has proven especially useful in rural and underserved communities where access to formal banking remains limited.
In addition, stablecoins serve as a hedge against inflation. In countries like Zimbabwe, Nigeria, and Sudan, where local currencies are prone to rapid devaluation, people are turning to stablecoins pegged to stronger currencies like the US Dollar to preserve the value of their earnings and savings. This digital financial lifeline offers much-needed stability in otherwise turbulent economic conditions.
Yet, despite their growing use, most stablecoin transactions in Africa still occur through informal peer-to-peer (P2P) networks, limiting transparency and increasing regulatory risks. ViFi Labs aims to replace these informal systems with secure, on-chain infrastructure, making stablecoin use both compliant and scalable.
Is East Africa The Next Crypto Frontier?
East Africa, where OneRamp has already established operations in Kenya, Uganda, and Tanzania, is poised to become a hotbed of crypto innovation. With high mobile penetration rates, strong fintech ecosystems, and a growing youth population, the region presents fertile ground for decentralized finance.
In Kenya, for instance, mobile money platforms like M-PESA dominate financial transactions. Integrating stablecoins into such platforms could revolutionise access to global financial systems, enabling cross-border payments, dollar savings, and even micro-investments, without requiring traditional bank accounts.
Uganda, home to OneRamp’s founders, has a growing tech community and a favourable stance on blockchain innovation. The Uganda Communications Commission and Bank of Uganda have shown interest in fintech collaborations, even as crypto regulations remain in early development.
Tanzania, while still conservative in its stance on crypto, is opening up to fintech, and ViFi’s entry through OneRamp could support policy-shaping discussions on blockchain use for financial inclusion.
While East Africa is just hitting its stride, West Africa, particularly Nigeria, has long been the continent’s crypto leader. Nigeria consistently ranks among the top countries in global crypto adoption indexes, fueled by a tech-savvy population, currency instability, and strong P2P ecosystems.
Yet, despite this leadership, Nigerian crypto users often face hostile regulatory environments, including central bank restrictions. ViFi Labs and OneRamp’s push for compliant infrastructure could help legitimize stablecoin use and bridge the trust gap between regulators and crypto users.
Southern Africa, especially South Africa, offers a more mature market with strong institutional participation and a more developed regulatory landscape. However, it also comes with higher barriers to entry, especially for smaller startups.
North Africa, while less active in crypto adoption, has shown interest in CBDCs (Central Bank Digital Currencies) and blockchain for trade facilitation.
By contrast, Latin America, another key market for ViFi Labs, shares similar drivers for stablecoin adoption: inflation, remittances, and limited banking access. Countries like Argentina, Venezuela, and Brazil are seeing rapid growth in stablecoin usage, often as an economic lifeline. This parallel trajectory suggests that ViFi Labs’ strategy of targeting both Africa and Latin America taps into universal needs in underserved economies.
The Global Crypto Ecosystem Is Growing
Globally, the stablecoin market has surpassed $540 billion in annual volume, driven by rising demand for digital dollars, borderless payments, and DeFi integrations. Institutions are increasingly turning to stablecoins for settlements, treasury diversification, and cross-border operations.
Yet, most global crypto infrastructure remains optimised for developed markets. That’s where ViFi Labs and OneRamp come in, localising global tools for real-world use in developing economies.
Their model prioritises a mobile-first approach, recognising that in many African and Latin American markets, smartphones are the primary gateway to financial services. By optimizing for mobile use, ViFi Labs and OneRamp ensure that users can easily access stablecoin payments and services anytime, anywhere.
Another core focus is interoperability with local financial systems. This means integrating seamlessly with existing infrastructure such as mobile money platforms and local banks, allowing users to convert and spend their digital assets in familiar ways without needing to overhaul their current financial habits.
Regulatory compliance is also central to their strategy. Understanding the sensitive nature of cryptocurrency in emerging markets, the partnership emphasizes working within existing legal frameworks to build trust with regulators, institutions, and users alike.
The model is built for affordability and speed. By leveraging decentralized infrastructure, ViFi Labs and OneRamp reduce transaction costs and settlement times, making it cheaper and faster for users to send, receive, and exchange money, an essential factor for mass adoption.
This makes them uniquely positioned to bring the benefits of global crypto innovation to markets that have historically been left out.
The Future of Decentralised Finance in Africa
The acquisition of OneRamp by ViFi Labs isn’t just a business deal; it’s a vision for Africa’s financial future. It reflects a deep belief that blockchain technology can, and should, serve real people, solving real problems in real time.
By offering compliant, scalable, and user-friendly crypto infrastructure, ViFi Labs is not only expanding into new markets but also reshaping the conversation around digital finance in emerging economies.
And with OneRamp continuing to serve as the user-facing gateway, the partnership is well-positioned to transform how millions of people across Africa and Latin America save, spend, and exchange money, without needing to touch a traditional bank.
As the global crypto ecosystem matures, Africa is no longer a follower; it’s becoming a leader in financial innovation. The union of ViFi Labs and OneRamp is just one more sign that the future of finance is not only decentralised, it’s also inclusive, mobile, and global.
The ViFi Labs, OneRamp deal sets a new standard for what meaningful crypto expansion can look like in emerging markets. By fusing cutting-edge DeFi infrastructure with localized, real-world payment platforms, the two companies have built a blueprint for inclusive, stablecoin-powered economies.
With clear growth plans, regulatory foresight, and a proven user base, this partnership has the potential to unlock a new era of financial access, not just in Africa, but across the developing world.
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