Stablecoin Solution Expands Financial Access in Africa

Kenyan startup Pretium is addressing a critical gap in the digital payments landscape by enabling stablecoins like USDT and USDC to be used for everyday transactions. Founded in 2024, Pretium’s payment infrastructure connects blockchain assets with mobile money systems and traditional banking rails across multiple African countries.

The Problem Pretium Solves

CEO Derrick Bundi experienced the challenge firsthand when he was paid in stablecoins but couldn’t directly spend them. Existing solutions primarily focus on crypto exchanges, requiring users to convert digital assets into local currency before making purchases – a process that can be inefficient and costly.

How Pretium Works

Pretium offers:

• Consumer app: Allows individuals to pay bills, buy groceries, and make other everyday purchases directly with stablecoins
• B2B API: Enables businesses to integrate stablecoin payments into their systems, providing access to liquidity and streamlined payouts

This approach bypasses the need for conversions, offering a more direct way to utilize digital assets in local economies.

Rapid Growth & Expansion

Pretium has already processed over $6 million in transaction value, with 49,000 users and partnerships with 40 businesses across six African countries (Kenya, Uganda, Ghana, Nigeria, Malawi, DRC).

The startup is seeking additional funding to support its expansion plans, including acquiring necessary licenses for operating as a payment provider.

Regulatory Landscape

While regulatory clarity remains a challenge in some markets, Pretium sees positive momentum with countries like Kenya and Rwanda actively developing digital asset frameworks. The company continues to navigate varying requirements while advocating for regulations that support local innovation.