Kora Unveils One Rail: A New Era for Cross-Border Payments in Africa
Kora, a leading payment solutions provider focused on the African market, has launched One Rail, a service designed to simplify how businesses handle stablecoin payments alongside traditional currencies. This innovative platform initially supports USDT and USDC – both pegged to the US dollar – offering merchants a more efficient way to manage international transactions.
Key Features of One Rail:
- Digital Wallets: Create dedicated wallets for stablecoin transactions with real-time tracking
- Flexible Conversion: Easily convert stablecoins into local currencies at competitive rates
- Direct Settlement: Receive funds directly into local bank accounts with clear payment confirmations
- Unified Dashboard: Manage all payments (stablecoins and traditional) from a single interface
The launch addresses a critical pain point for African businesses: the high cost and complexity of international payments. Remittances across Africa average 8-8.8%, significantly higher than the global average of 6.49%. One Rail offers a more accessible alternative, particularly as stablecoin adoption in Africa reaches 78%.
Addressing Business Challenges:
Imagine a Nigerian business seeking to receive payments from international clients in USDC. With One Rail, they can create a digital wallet through Kora and seamlessly accept these funds while enjoying several benefits:
- Payment Flexibility: Option to keep earnings in USDC or convert to naira before deposit
- Cost Savings: Reduce reliance on expensive correspondent banking networks
- Faster Settlement: Receive payments directly without intermediary delays
- Improved Transparency: Track all transactions through a user-friendly dashboard
Kora’s One Rail covers the full payment lifecycle, from collecting funds to managing treasury operations. The platform provides essential tools like wallet generation, payment confirmations, and manual settlement options – empowering businesses of all sizes to participate in global commerce.