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ViFi Labs Acquires African Stablecoin Payment Platform OneRamp
ViFi Labs has taken a big step forward by acquiring OneRamp, an African stablecoin payment platform. This move will help make stablecoins easier to use across Africa and Latin America. ViFi Labs is known for creating technology that lets people trade stablecoins and foreign currencies on a decentralized platform, which means no single company controls it. Now, by buying OneRamp, ViFi Labs will connect this technology directly to everyday users in Africa.
OneRamp, started by two Ugandan entrepreneurs, Elias Hezron Opio and Jovan Mwesigwa, helps people spend stablecoins by letting them pay straight into their mobile money wallets or bank accounts. It works in countries like Kenya, Nigeria, Uganda, and Tanzania. Right now, OneRamp serves over 25,000 people and makes around $1.2 million a year. The way OneRamp works makes stablecoins more practical for daily use, whether for shopping, sending money to family, or saving, especially in places where banks can be slow or expensive to use.
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As ViFi Labs acquires OneRamp, it’s not just about getting more customers. It’s part of a bigger plan to lead the $540 billion stablecoin market for businesses and institutions in Africa and Latin America. ViFi Labs wants to be the go-to place for people to exchange foreign currency using stablecoins safely and easily. OneRamp helps ViFi Labs get its technology into the hands of real users by providing a simple way to pay and receive money using stablecoins.
Varoun Hanooman, co-founder of ViFi Labs, explained that OneRamp is like the key to reaching customers wherever stablecoin markets are. “ViFi’s goal is to build the best place for making markets happen,” he said. “But OneRamp is about making it easy for users to access those markets with just one platform.”
OneRamp also has a bright future as it’s lined up to be the main payment platform for Africa on Coinbase’s new Base App. This means more people will be able to use stablecoins through their mobile money or bank accounts on a popular crypto platform. While OneRamp stays open to work with different platforms, this connection puts it in a strong spot to grow even faster.
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For ViFi Labs, the acquisition of OneRamp is not just about growth, it’s about becoming the backbone for on-chain foreign exchange in areas where stablecoins are already becoming a common way to buy, save, and send money across borders. With OneRamp’s existing users and reach, ViFi Labs now has a powerful tool to bring stablecoins into everyday financial life.
ViFi Labs acquires African stablecoin payment platform OneRamp to make stablecoins easier to use in Africa and Latin America. This partnership brings together ViFi Labs’ decentralized foreign exchange technology with OneRamp’s user-friendly payment system. Together, they aim to provide safe, easy, and fast stablecoin payments to thousands of people. This deal is a major step in making stablecoins a regular part of how people manage money in these growing markets.
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