Yes, Onafriq implements bank-grade security and holds multiple licenses (FCA, FSC, and others). It uses a 'second line of defense' strategy involving dedicated legal, risk, and compliance teams.

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Onafriq

Q: What is the Purpose of Onafriq?

The primary goal of Onafriq is to simplify financial transactions across Africa by creating a unified payment infrastructure that eliminates the high costs and delays of traditional cross-border banking.

Q: How Can I Participate in Onafriq's Ecosystem?

Businesses can join by integrating with Onafriq’s API to access its payment network. Individuals typically participate as end-users of the mobile wallets and banking apps that are powered by Onafriq’s infrastructure.

Q: What Sets Onafriq Apart from Competitors?

Onafriq's competitive advantage lies in its vast 'network of networks' approach, which provides deeper reach into the African mobile money market (nearly 1 billion wallets) than any other single provider.

Q: What are the Risks Associated with Onafriq?

Potential risks include regulatory changes in various African jurisdictions and the volatility of foreign exchange rates, which the company manages through diverse FX partnerships and stablecoin pilots.

Onafriq is a digital payment platform in Africa, supporting cross-border and domestic payments and receipts, card issuance processing, agent banking and fund management services, and connecting mobile wallets, bank accounts, and payment networks.

What is Onafriq?

Onafriq (formerly MFS Africa) is a leading pan-African fintech infrastructure company and digital payments gateway. Its mission is to make borders 'matter less' by connecting fragmented financial systems across Africa, facilitating seamless money transfers, and driving financial inclusion for millions of individuals and businesses.

How Does Onafriq Work?

Onafriq operates as a 'network of networks' through a single API integration. It connects mobile money wallets, bank accounts, and card schemes across over 40 African countries. By partnering with companies like Ripple and Circle, it leverages blockchain technology and stablecoins (like USDC) to bypass traditional, slow correspondent banking and provide real-time cross-border settlements.

What Makes Onafriq Unique?

Onafriq is unique for its massive scale, connecting over 500 million mobile wallets and 200 million bank accounts across 1,300+ payment corridors. It stands out by integrating traditional mobile money systems with modern blockchain solutions, enabling a unique 'omnichannel' experience where users can move funds between cards and wallets instantly.

Who Are the Founders of Onafriq?

Onafriq was founded by Daré Okoudjou, a Beninese entrepreneur with extensive experience in the telecom and financial sectors. Before starting the company in 2009, he led mobile payment strategies for MTN Group across 21 countries. He holds an MSc in Telecom Engineering and an MBA from INSEAD, and is recognized as a pioneer in African fintech.

Latest News

What Key Events Have There Been for Onafriq?

In late 2023, Onafriq partnered with Ripple to facilitate digital asset-enabled payments between Africa and global markets. In 2025, it expanded its collaboration with Circle to pilot USDC for cross-border settlements. Most recently, in February 2026, it launched a major wallet payment pilot with the Pan-African Payment and Settlement System (PAPSS) in Nigeria.

Project Announcements

Onafriq recently celebrated its 15th anniversary, marking the milestone of connecting nearly 1 billion mobile money wallets. The company has also announced new 'Visa Pay' features in Ghana and the DRC to bridge the gap between card payments and mobile money.

Upcoming Events

Latest Airdrop

There are currently no active or official airdrops announced for Onafriq, as the company operates primarily as a payment infrastructure provider rather than a retail token project.

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Projects Announcements

Where to Buy Onafriq?

Onafriq is a private fintech infrastructure company and does not have a publicly traded cryptocurrency token. While it uses digital assets like USDC and XRP for backend settlement, there is no 'Onafriq token' available for retail purchase on exchanges.

Onafriq Price

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Market Cap and Valuation

Market Cap

As a private company, Onafriq does not have a public market capitalization. However, it has raised over $200 million in Series C funding from major global investors.

Fully Diluted Valuation

The company's private valuation is estimated to be in the hundreds of millions of dollars following its successful funding rounds and acquisitions of companies like GTP.

Onafriq Price Prediction

There are currently no available price forecasts from reliable experts or publications, as Onafriq does not have a native public token to track or predict.

How to buy Onafriq?

Onafriq is not a tradable token. However, you can use the Bitget Wallet to hold and trade the stablecoins (like USDC) that Onafriq uses in its infrastructure: Download the Bitget Wallet: Download the app from the official site. Create an Account: Secure your account with a strong password. Fund Your Wallet: Deposit USDT or other supported assets. Navigate to the Market: Search for USDC/USDT. Place Your Order: Confirm your purchase to hold the assets used in the Onafriq ecosystem.

FAQ

What is the Purpose of Onafriq?

How Can I Participate in Onafriq's Ecosystem?

What Sets Onafriq Apart from Competitors?

Is Onafriq Secure?

What are the Risks Associated with Onafriq?

Community Sentiment

33.16K Votes

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Disclaimer and Risk Warning: Some content on this page may be assisted or generated by AI and is for general reference only. For the most accurate and updated information, please refer to the official website of the project. Bitget Wallet values every partnership. If you notice any issues or inaccuracies, feel free to reach out to us at support.web3@bitget.com — we appreciate your feedback and will make improvements where needed.

Onafriq

Latest News

Upcoming Events

Projects Announcements

FAQ

What is the Purpose of Onafriq?

How Can I Participate in Onafriq's Ecosystem?

What Sets Onafriq Apart from Competitors?

Is Onafriq Secure?

What are the Risks Associated with Onafriq?

Community Sentiment

Currently Popular