ViFi Labs, a decentralized stablecoin protocol focused on building on-chain foreign exchange (FX) swap infrastructure, has announced the acquisition of OneRamp, a prominent stablecoin payments provider operating in emerging markets.
This strategic acquisition positions ViFi as the leading on-chain FX venue for emerging market consumer flow.
According to ViFi Labs Cofounder Tony Olendo,
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He said, “The OneRamp acquisition will help provide distribution and access to the ViFi protocol at launch. We believe that stablecoins and FX trading venues that are fully on-chain will be the future.”
Also speaking, Varoun Hanooman Cofounder at ViFi Labs said,
“OneRamp is a source of customer acquisition wherever the markets are being made. ViFi’s goal is to be the best place for marker making in the future. But One Ramp is a distribution game. It makes it as easy to access all those venues from a single interface”.
OneRamp is a leading cryptocurrency payment gateway in Africa, proving that cryptocurrency infrastructure can effectively reach new customers by making stablecoin payments to mobile money and bank accounts seamless.
The platform makes it easy for people to spend crypto for day-to-day purchases, blurring the gap between the complexity of stablecoins and fintech payments. Founded by Ugandans Elias Hezron Opio and Jovan Mwesigwa, OneRamp currently operates across Kenya, Nigeria, Uganda, and Tanzania. With an annualized run rate of $1.2 million and over 25,000 customers, the company is focused on building compliant, sustainable infrastructure with strong KYC systems across multiple jurisdictions.
Tapping into a Growing Market
Crypto adoption in Africa and Latin America continues to grow, with stablecoin transaction volume in these regions reaching $540 billion annually—60% of which is institutional. Despite this growth, fragmented liquidity and volatile FX rates have pushed many users toward P2P platforms and OTC desks.
By acquiring OneRamp, a platform with deep market reach and experience in facilitating stablecoin payments, ViFi Labs can now combine infrastructure with distribution. This integration will allow users in fragmented markets to access real-time, cross-currency liquidity without relying on off-chain, opaque P2P or OTC platforms. Also, this will gradually pull volume away from unregulated P2P channels and toward a more secure and compliant environment.
Notably, the merged platform will be able to offer low-cost, high-speed, cross-border payment services using stablecoins and on-chain FX conversion. This is particularly valuable for freelancers, SMEs, and remittance recipients, who can now move money across borders without facing excessive fees or rate shocks
Strategic Expansion into the Base Ecosystem
With Coinbase’s recent launch of the “Base App,” OneRamp is positioning itself as a premier payment provider for African users within the Base ecosystem. By enabling payments to mobile money services and banks, OneRamp aims to become the go-to platform for stablecoin transactions on Base.
“While at its core, OneRamp will remain a platform-agnostic solution, the Base ecosystem provides us an unparalleled distribution opportunity to put OneRamp front and centre to users locally and abroad,” said OneRamp Cofounder Jovan Mwesigwa.
ViFi Labs is also launching OneRamp within the Base App and Farcaster, bringing together crypto-native infrastructure and localized payments in a single interface.
Looking Ahead
With this acquisition, ViFi Labs is set to accelerate stablecoin adoption and build the FX infrastructure needed to support the next wave of institutional and consumer crypto use in high-growth regions.