SCRYPT Expands Stablecoin Settlement Network Across Four East African Markets
SCRYPT eliminates this intermediate conversion. By enabling direct settlement corridors for local African currencies into stablecoins, businesses can move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars. Local currency in, stablecoin out.
SCRYPT, the operating system for digital assets, announced the expansion of its licensed stablecoin settlement infrastructure across four East African markets, enabling banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
In most African markets, accessing US dollars remains the biggest friction in cross-border payments. Local currencies can be volatile, bank dollar liquidity is often constrained and correspondent banking remains slow and expensive. Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
SCRYPT eliminates this intermediate conversion. By enabling direct settlement corridors for local African currencies into stablecoins, businesses can move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars. Local currency in, stablecoin out.
“Across Africa, stablecoin adoption is driven by economic need, not speculation. Businesses here are not chasing yield, they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
– Norman Wooding, Founder and CEO, SCRYPT
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
“Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs. SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
– Gabriel Titopoulos, Managing Director, Markets & Trading, SCRYPT
Stablecoins are increasingly becoming settlement infrastructure rather than an investment product. By extending licensed access across African payment corridors, SCRYPT is helping banks, payment providers and corporate treasury teams move capital more efficiently where it is needed most.
