CrissCross receives Circle Ventures investment to expand stablecoin payment rails in Africa
The South African payments company connects blockchain settlement with local bank accounts and mobile wallets across more than 30 African markets, according to the companies.
CrissCross, the stablecoin payments infrastructure business of South Africa-based Stitch Group, announced an investment from Circle Ventures on October 26.
CrissCross connects blockchain-based settlement with local fiat payment rails, including bank accounts and mobile wallets, across more than 30 African markets, according to the companies. The investment is intended to support additional local payment connections, liquidity and support capacity.
The model addresses a practical problem in cross-border payments: stablecoins can move value between settlement endpoints, but recipients still need local-currency access through regulated rails. The quality of that last-mile connection, along with compliance and liquidity management, determines whether a digital-dollar payment is useful in practice.
The parties did not disclose the investment amount or a valuation. The announcement describes expansion plans, not a guarantee of lower costs, faster settlement or availability in every African country.