Kredete Expands South African Crypto Footprint With CASP Licence Acquisition
The transaction was structured as an all-share acquisition through a subsidiary dedicated to stablecoin infrastructure buildout and expands Kredete’s digital assets licensing footprint to one of Africa’s notable crypto asset markets.
Kredete, a real-time cross-border payments platform, has completed the acquisition of an entity holding a Crypto Asset Service Provider (CASP) license issued by South Africa’s Financial Sector Conduct Authority (FSCA). The transaction was structured as an all-share acquisition through a subsidiary dedicated to stablecoin infrastructure buildout and expands Kredete’s digital assets licensing footprint to one of Africa’s notable crypto asset markets.
Stablecoin adoption in South Africa has grown rapidly in recent years. On payment platforms like MoneyBadger’s network, rand-backed stablecoins grew from 2% to 44% of crypto payment value over three years. Regulatory maturity has kept pace: the FSCA has approved roughly 310 of 533 CASP license applications as of early 2026, making South Africa one of the most regulated digital asset markets on the continent.Compliance as infrastructure
Kredete was founded in 2022 by Adeola Adedewe with a singular mission: to give individuals and businesses across emerging markets, whether at home or abroad, access to modern, affordable financial tools that reflect their real economic lives. Today, Kredete operates a unified platform that enables consumers, businesses, and financial institutions to move, convert, hold, and settle money globally in real time.
“This acquisition reflects the depth of Kredete’s belief in the potential of stablecoins as the future of finance in Africa and underscores our commitment to delivering faster and cheaper payments to our customers in South Africa. It also demonstrates our dedication to providing secure and compliant financial infrastructure for the diaspora communities and businesses we serve, both in South Africa and everywhere else we operate.”
– Tobi Adebowale, Head of Legal, Kredete
Kredete’s new subsidiary in South Africa adds to its growing regulatory footprint, which includes VASP and PSP authorizations in Argentina, and an IMTO license in Ghana, reflecting a market-by-market approach to compliance rather than operating through cross-border workarounds.
With this acquisition, Kredete plans to expand its stablecoin-powered remittance and payment services to South African users and businesses, while continuing to build the infrastructure that connects diaspora communities to the markets they call home.
