Paga, a Nigerian financial technology company offering a multicurrency payments ecosystem for individuals and businesses, has partnered with Sui, the blockchain network built by US-based Mysten Labs, to advance the development of next-generation financial infrastructure for Africa.
The partnership between Paga and Sui is about building a new blockchain-powered financial infrastructure that expands what Paga can offer beyond traditional payments into crypto, stablecoins, and tokenised assets.
In simple terms, it is aimed at making money movement and access to financial products in Africa faster, cheaper, and more global using blockchain technology.
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Announcing the partnership, Sui wrote via a post on LinkedIn,
“Breaking from Sui Live: one of Africa’s largest payments networks is coming to Sui. Paga Group Ltd, which processed $11B in payments and 169M transactions in 2025, is integrating Sui Dollar (USDsui) for instant and direct dollar-denominated settlement. This is stablecoins at scale.”
Paga CEO Tayo Oviosu, commenting on the partnership, wrote,
“Fourteen years ago in Lagos, a traumatic hospital experience revealed a harsh reality: access to urgent medical care was delayed not by lack of treatment, but by the absence of cash. That moment reflected a broader systemic issue across Africa, where financial friction often determines access to essential services and opportunities. Since then, Paga has pursued a clear mission: to make it simple for one billion people to access and use money.
“Over seventeen years, the company has built a financial infrastructure that now processes over $1.5 billion monthly, with hundreds of millions of transactions facilitating everyday life across payments, transfers, and commerce. Despite this progress, significant challenges remain across the continent, including currency instability, high-cost cross-border payments, and fragmented financial systems that limit economic participation and wealth preservation. In response to these challenges, Paga is announcing a strategic partnership with Sui to advance the development of next-generation financial infrastructure for Africa.”
Paga and Sui’s collaboration will focus on four core areas:
- High-yield USD-denominated savings solutions designed to help protect value from local currency volatility
- Expanded on- and off-ramp infrastructure to improve liquidity and access across African markets
- Tokenization of real-world assets to broaden investment opportunities with lower entry barriers
- Development of global financial rails that enable faster, more efficient cross-border transactions
Paga users could soon hold a dollar account that earns interest automatically, convert between local currency and crypto without friction, invest in assets like property or green energy projects that were previously out of reach, and send or receive money across borders as easily and cheaply as sending an email.
Paga’s move reflects a broader trend among African fintech companies increasingly exploring crypto and digital currency infrastructure for payments, settlement, and treasury operations. Recall that in October 2025, Nigerian fintech unicorn Flutterwave partnered with blockchain firm Polygon to expand its stablecoin payment infrastructure.
Looking ahead, Africa’s projected population growth to 2.5 billion by 2050, alongside a rapidly expanding youth demographic, underscores the urgency of building scalable and inclusive financial infrastructure.
Paga’s partnership with Sui reflects a shared commitment to reducing financial friction and expanding access to global economic systems for Africans. This initiative is not simply about technology or products; it is about building the foundational rails for the future of money in Africa and beyond.