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 all-share transaction was completed through a subsidiary dedicated to stablecoin infrastructure development and expands Kredete’s digital asset licensing footprint into one of Africa’s most established crypto asset markets.
The acquisition represents a significant step in Kredete’s expansion strategy as the company continues to build regulated infrastructure for stablecoin-powered payments across emerging markets. By securing a licensed presence in South Africa, Kredete is strengthening its ability to serve consumers, businesses, and financial institutions through compliant financial services.
Compliance Supports Market Expansion
South Africa has emerged as one of the continent’s leading digital asset markets, supported by both growing adoption and regulatory development. Stablecoin usage has increased significantly in recent years. On MoneyBadger’s payment network, rand-backed stablecoins grew from 2% to 44% of total crypto payment value over a three-year period.
At the same time, regulation of the sector has advanced. As of early 2026, the FSCA had approved approximately 310 of 533 CASP license applications, making South Africa one of the most regulated digital asset markets in Africa.
For Kredete, the acquisition aligns with a broader strategy of building operations within local regulatory frameworks. Rather than relying on cross-border workarounds, the company has continued to pursue country-specific licenses and authorizations as it expands its infrastructure footprint.
Building Regulated Stablecoin Infrastructure
Founded in 2022 by Adeola Adedewe, Kredete was established with the goal of providing individuals and businesses across emerging markets with access to modern and affordable financial tools. Today, the company operates a unified platform that enables consumers, businesses, and financial institutions to move, convert, hold, and settle money globally in real time.
According to Tobi Adebowale, Head of Legal at Kredete, the acquisition reflects the company’s conviction in the role stablecoins can play in the future of finance across Africa while supporting faster and lower-cost payments for customers in South Africa. The transaction also reinforces Kredete’s commitment to providing secure and compliant financial infrastructure for diaspora communities and businesses across its markets.
The new South African subsidiary adds to Kredete’s growing regulatory footprint, which already includes Virtual Asset Service Provider (VASP) and Payment Service Provider (PSP) authorizations in Argentina, as well as an International Money Transfer Operator (IMTO) license in Ghana.
With the acquisition completed, Kredete plans to expand its stablecoin-powered remittance and payment services to South African users and businesses. The company will continue investing in the infrastructure that connects diaspora communities with the markets where they have personal, commercial, and financial ties.
Today, Kredete supports fast, low-cost payments to more than 60 countries and offers financial products designed to help consumers build credit. The company has raised $24.75 million in total funding, serves more than 6.5 million users, and processes more than $18 billion in annualized payment volume.