SCRYPT, a Digital asset infrastructure provider, has expanded its licensed stablecoin settlement infrastructure across four East African markets, a move aimed at helping banks, payment providers, and corporate treasury teams settle cross-border transactions faster using local currencies.
The expansion introduces settlement support for the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX), allowing businesses to convert local currencies directly into stablecoins without first sourcing U.S. dollars.
The company said the move addresses one of the biggest challenges facing cross-border payments in many African markets, where access to U.S. dollars remains limited due to constrained bank liquidity, volatile local currencies and expensive correspondent banking networks.
“Across Africa, stablecoin adoption is driven by economic need, not speculation,” said Norman Wooding, founder and chief executive officer of SCRYPT. “Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a
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