Lipaworld, a borderless financial platform that enables immigrants, freelancers, and African businesses to send and receive money using Stablecoins, has entered South Africa to drive financial inclusion through Stablecoins.
The venture-backed fintech platform’s entry into the South African market will see it support freelancers, immigrants, and informal businesses with a faster and safer alternative to conventional banking and remittance systems.
Speaking on this expansion, the founder of Lipaworld Jonathan Katende said,
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“We are not here to hype crypto. We are here to offer real financial access to people who have been overlooked or underserved by traditional systems. Stablecoins are not a fad. They are a regulated, reliable way for people to take control of their finances, build economic resilience, and participate fully in the modern economy.”
As digital currencies continue to reshape the financial landscape, stablecoins are increasingly bridging the divide between traditional banking systems and the world of cryptocurrencies, and Lipaworld is bringing that transformation into everyday use across Africa.
The use of stablecoins has increased in recent years with the average supply of stablecoins in circulation increasing roughly 28% year-over-year. Total transfer volume hit $27.6 trillion last year, surpassing the combined volume of Visa and Mastercard transactions in 2024.
Unlike volatile cryptocurrencies, stablecoins like USDC are pegged to the U.S. dollar and increasingly subject to regulation across multiple jurisdictions. USDC, issued by Circle (now listed on the New York Stock Exchange), offers a stable, reliable digital currency for payments.
Notably, several financial institutions are entering the stablecoin market. Earlier this year Standard Chartered Bank announced it was partnering with cryptocurrency companies to launch a stablecoin that will be pegged to the Hong Kong dollar. Other banks and financial technology companies such as PayPal, Bank of America, and Stripe have also launched stablecoins or indicated they intend to enter the market.
With over $2 trillion in stablecoin transactions processed globally in the past year, these digital currencies are quickly becoming the backbone of modern value exchange.
Proponents maintain that stablecoins can enable quicker and more affordable international payments, and can be used to bring financial services to the over 1 billion people worldwide who lack access to traditional banking.
In Sub-Saharan Africa—where remittance fees average 7.9% to send just $200—the need for high-speed, low-cost financial alternatives is critical.
Lipaworld founded by Jonathan Katende, wants to enhance financial inclusion in Africa, with its recent expansion to South Africa. The platform bridges the informal cash economy with modern fintech, empowering underserved communities with fast, transparent, and affordable financial tools. Through its virtual USDC accounts, digital vouchers, and peer-to-peer wallet, users can access essential services like airtime, groceries, and transport while bypassing costly remittance fees.
At its core, Lipaworld enables users to earn dollarized income through a virtual bank account, send money home using stablecoins, and spend their digital dollars on local products within its marketplace. The self-custodial wallet gives users full control, bypassing high fees, forex markups, and third-party delays.
“Our user experience is deliberately simple,” says Katende. “We hide the complexity so users can just get on with their lives. Behind the scenes, it’s stablecoin wallets—but it feels like using any familiar money transfer app. Only this one works better.”
The platform is trusted by Individuals And Teams At The World’s Best Companies which include plug-and-play, Coinbase, Circle, MoonPay, Western Union, and Visa.
Solving for South Africa’s Informal Economy
South Africa’s informal sector remains deeply excluded from mainstream financial services. Freelancers wait days for international payments.
At Lipaworld, the company believes talent shouldn’t be limited by borders, and getting paid shouldn’t be a battle. That’s why it is on a mission to make payments faster, easier, and more secure for African freelancers.
Lipaworld is tackling these challenges head-on. A freelance designer in Cape Town, for example, can now invoice clients in digital dollars, get paid within minutes, and support family in Zimbabwe—without ever stepping into a bank.
Regulation as a Foundation
Stablecoins have become an integral asset class of cryptocurrencies. However, they face various integration hurdles such as regulatory scrutiny, consumer protection concerns, and transparency issues.
Amid an industry often clouded by hype, Lipaworld remains firmly committed to transparency and regulatory compliance. The company works with licensed Payment Service Providers (PSPs) in each of its markets and actively engages with policymakers to support responsible innovation.
By addressing regulatory scrutiny and consumer protection concerns, the platform is building a new, inclusive financial system that empowers underserved communities with fast, affordable, and transparent tools, transforming South Africa’s economic landscape from the ground up.