Circle Internet Group announced a partnership with Sasai Fintech, a business of Cassava Technologies, to accelerate the adoption of its USDC stablecoin across Africa. The collaboration will leverage Circle’s full‑stack on‑chain platform to reduce costs, friction, and settlement times for Sasai’s enterprise and consumer customers in key payment corridors such as cross‑border transfers and mobile wallet solutions.
The partnership is strategically significant because it combines Circle’s programmable financial infrastructure with Sasai’s pan‑African network. By integrating USDC and Circle’s on‑chain infrastructure, the two companies aim to connect users to the global financial system, support Africa’s growing digital economy, and position Circle as a key enabler of cross‑border payments in high‑growth emerging markets.
"Africa's digital economy is entering a new era, propelled by entrepreneurship, a mobile‑first generation, and the acceleration of intra‑regional trade. By integrating with the trusted and widely adopted USDC network, we can drive financial inclusion and open transformative opportunities for businesses and consumers alike," said Strive Masiyiwa, Founder and Executive Chairman at Cassava Technologies. "Emerging markets are at the forefront of stablecoin adoption, and Africa represents a significant opportunity for internet‑native innovation. Working with Cassava, we can extend the benefits of USDC and on‑chain infrastructure into high‑growth payment corridors to deliver always‑on global connectivity," added Jeremy Allaire, Co‑Founder, Chairman and CEO of Circle.
Circle’s financial context underscores the importance of this partnership. The company reported a 64% year‑over‑year revenue growth and a gross profit margin of 8.67%, but it continues to post negative net (-2.53%) and operating (-3.32%) margins. With a market capitalization of $30.7 billion, analysts have noted that Circle may be overvalued relative to its fair value. The partnership with Sasai offers a pathway to increase transaction volumes and potentially improve profitability by tapping into Africa’s rapidly expanding stablecoin market.
For Sasai Fintech and its parent, Cassava Technologies, the integration of USDC enhances digital financial services by reducing transaction costs and settlement times. The collaboration expands Sasai’s service portfolio, strengthens its competitive position, and supports broader financial inclusion across the continent.
Stablecoin adoption in Africa is growing rapidly, driven by mobile‑first consumers and cross‑border commerce. In 2024, stablecoins accounted for 43% of total cryptocurrency transaction volume in sub‑Saharan Africa. By partnering with Circle, Sasai and Cassava are poised to capture a larger share of this expanding market, while Circle gains a foothold in a high‑growth region that aligns with its mission to build an open, programmable internet financial system.
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