Anzens and Credit Bank PLC Partner to Launch Stablecoin Cross-Border Payments in Kenya

A new partnership in Kenya is set to introduce regulated stablecoin capabilities into the country’s banking system, marking a notable step in the evolution of cross-border payments. Anzens  has teamed up with Credit Bank PLC  and Yeshara Tokens Ltd  to integrate $USDA, a dollar-backed stablecoin, into licensed banking services.

The proposed model will allow customers of Credit Bank to seamlessly convert local currency into the stablecoin and обратно into fiat using their existing bank accounts. The bank will act as custodian for both Kenyan shillings and U.S. dollars, while enabling cross-border settlements through the stablecoin infrastructure. This setup is designed to simplify international transactions and reduce reliance on traditional correspondent banking systems.

One of the key advantages of the initiative is its cost structure. The partners are targeting a flat transaction fee of around 1.5% for cross-border settlements—significantly lower than conventional fees, which can be several times higher. This could provide a more efficient and cost-effective solution for businesses engaged in international trade and payments.

The collaboration aims to combine regulated stablecoin infrastructure with compliant fiat access and secure digital wallet capabilities, all within the framework of existing financial institutions. This approach is expected to enhance trust and usability for businesses seeking modern payment solutions without leaving the traditional banking ecosystem.

A pilot phase for the minting and distribution of the USDA stablecoin is planned, subject to regulatory approvals. If successful, the initiative could position Kenya at the forefront of integrating blockchain-based financial solutions into mainstream banking services.