Kora Launches One Rail for Stablecoin Payments in Africa

Kora, a Nigerian-founded fintech, has introduced One Rail, a product that integrates stablecoin payment and settlement options into its existing payment network. This innovation enables eligible merchants in supported markets to accept payments in dollar-backed stablecoins USDT and USDC, convert between assets, and settle funds to bank accounts, mobile wallets, or stablecoin wallets.

Kora is expanding access in stages, with varying supported functions by market. The initiative aligns with a trend among African fintech infrastructure providers, such as Onafriq and Fincra, who are adopting stablecoin-based solutions for cross-border payments.

Dickson Nsofor, Kora’s founder and chief executive officer, explained that stablecoin transactions can be completed in less than two minutes, compared to traditional wire transfers that can take several days. The One Rail product aims to simplify stablecoin payments, allowing merchants to operate without managing blockchain infrastructure or separate reconciliation systems.