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SCRYPT expands stablecoin settlement infrastructure across East Africa
14 July 2026 Africa
Image: Yingyaipumi/stock.adobe.com
SCRYPT, a Swiss-licensed provider of institutional digital asset infrastructure, has expanded its stablecoin settlement infrastructure across four East African markets.
The expansion adds settlement support for regional currencies: the Kenyan shilling, Tanzanian shilling, Rwandan franc, and Ugandan shilling, utilising the same infrastructure already used by SCRYPT clients for trading, custody, and treasury operations.
According to SCRYPT, the initiative is intended to allow banks, payment providers, and corporate treasury teams to move value in and out of the continent in real time.
The firm also aims to eliminate frictions typically associated with TradFi cross-border payments — such as local currency volatility, constrained bank dollar liquidity, and the slowness and expensiveness of correspondent banking — through the use of direct settlement corridors for regional currencies into stablecoins.
Commenting on the initiative, Norman Wooding, CEO of SCRYPT, says: “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars.”
Gabriel Titopoulos, managing director, markets and trading at SCRYPT, adds: “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
The expansion adds settlement support for regional currencies: the Kenyan shilling, Tanzanian shilling, Rwandan franc, and Ugandan shilling, utilising the same infrastructure already used by SCRYPT clients for trading, custody, and treasury operations.
According to SCRYPT, the initiative is intended to allow banks, payment providers, and corporate treasury teams to move value in and out of the continent in real time.
The firm also aims to eliminate frictions typically associated with TradFi cross-border payments — such as local currency volatility, constrained bank dollar liquidity, and the slowness and expensiveness of correspondent banking — through the use of direct settlement corridors for regional currencies into stablecoins.
Commenting on the initiative, Norman Wooding, CEO of SCRYPT, says: “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars.”
Gabriel Titopoulos, managing director, markets and trading at SCRYPT, adds: “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
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