Real Vision Finance

Africa’s Financial System Is Ready for a Leap W/ Tayo Oviosu | Sui Live Miami

At the Sui Live Miami event, Paga’s founder Tayo Oviosu announced the launch of stable‑coin capabilities on the company’s platform, leveraging the Sui blockchain’s dollar‑backed Sui Dollar stablecoin. The move is part of Paga’s broader mission to give one‑billion Africans seamless access to money and global financial rails. Paga, Nigeria’s leading fintech, already processes about $1.5 billion in transactions each month. By integrating stable‑coin wallets, US‑dollar‑backed accounts, and cross‑chain bridges, the firm lets merchants and consumers move value between fiat and multiple blockchain networks without the friction of traditional providers such as Stripe. The service is delivered through the “Paga Engine,” an API‑first infrastructure that businesses can embed to launch their own financial products. Oviosu highlighted that a private blockchain pilot reduced card‑processing latency by 30%, illustrating tangible blockchain benefits beyond speculation. He praised Sui for its horizontal scalability, built‑in privacy and low transaction costs, saying these traits are essential for the “next billion” users and agents. He also noted Africa’s rapid crypto uptake, driven by currency devaluation and a youthful, mobile‑first population. If Paga’s stable‑coin layer scales, it could reshape remittances, lower cross‑border fees and accelerate financial inclusion across the continent. Competitors will likely follow, prompting a broader shift toward blockchain‑enabled fintech infrastructure in emerging markets.