Circle, Sasai to expand USDC adoption across Africa

The partnership will explore applications for USDC and Circle’s platform to reduce costs and settlement times for Sasai’s enterprise and consumer customers

Circle Internet Group announced Tuesday a collaboration with Sasai Fintech, a business of Cassava Technologies, to expand USDC stablecoin adoption across Africa, according to a press release statement. The partnership comes as Circle’s stock has surged 59.7% year-to-date, reaching a market capitalization of $30.7 billion.

USDC is a payment stablecoin issued through Circle’s regulated affiliates and is redeemable 1:1 for U.S. dollars. The partnership will explore applications for USDC and Circle’s platform to reduce costs and settlement times for Sasai’s enterprise and consumer customers.

Sasai Fintech operates across payment corridors in Africa, offering digital financial services including business payments, cross-border transfers, and mobile wallet solutions. The integration aims to connect users to the global financial system through USDC and Circle’s blockchain infrastructure.

By integrating with the trusted and widely adopted USDC network, we can drive financial inclusion and open transformative opportunities for businesses and consumers alike, said Strive Masiyiwa, Founder and Executive Chairman at Cassava Technologies.

Jeremy Allaire, Co-Founder, Chairman and CEO at Circle, stated: Working with Cassava, we can extend the benefits of USDC and onchain infrastructure into high-growth payment corridors to deliver always-on global connectivity.

Circle’s platform includes USDC, Circle Payments Network for money movement, and Arc, a blockchain designed for enterprise use. The company reported impressive revenue growth of 64% over the last twelve months, though it maintains weak gross profit margins of 8.67%. Sasai Fintech provides digital payment solutions across Africa, addressing infrastructure fragmentation and cross-border complexity.

Cassava Technologies, headquartered in the UK, operates across Africa, the Middle East, Latin America and the U.S. through business units including Cassava AI, Liquid Intelligent Technologies, and Africa Data Centres, providing services in 94 countries.