Ivorypay, a leading blockchain-powered payment and remittance platform enabling businesses across Africa to accept stable cryptocurrency payments, today announced a strategic investment from Hedera, a next-generation distributed ledger platform. The infusion of capital underscores Hedera’s commitment to supporting innovative blockchain solutions and expanding financial inclusion on the continent.
Founded in 2022, Ivorypay has experienced rapid growth, having processed over $80 million in transaction volume and onboarded more than 8,000 merchants across Nigeria, Ghana, Kenya, and South Africa. Built around a vision of simplifying cross-border transactions, Ivorypay’s solution empowers businesses to seamlessly accept, transact, and settle in stablecoins—reducing volatility and enabling faster, more cost-effective payment processes.
“We’re excited to welcome Hedera on board as we continue to scale our payment infrastructure and reach more African markets,” said Oluwatobi Ajayi, CEO and Co-Founder of Ivorypay. “Their support bolsters our mission to bring secure and transparent financial services to everyone, especially in regions where the benefits of digital currencies can truly transform day-to-day transactions.”
The strategic investment comes at a pivotal time as Africa’s crypto transaction volume reached $117 billion in 2023, representing 2.3% of global volume. Traditional payment methods in Africa continue to face challenges with high transaction costs—between 8-10% on average—resulting in nearly $5 billion in annual losses for the continent.
By leveraging Hedera’s high-throughput, low-cost, and enterprise-grade blockchain technology, Ivorypay is positioned to further enhance its platform’s speed, security, and reliability. This collaboration will enable an even broader range of merchants and consumers to access stablecoin-based payments, driving the adoption of digital currencies across Africa’s growing economy.
“Investing in Ivorypay is part of our broader commitment to driving real-world blockchain use cases that foster financial inclusion,” said a Hedera spokesperson. “We are confident that Ivorypay’s solutions, backed by our state-of-the-art distributed ledger technology, will help revolutionize payment systems and empower millions of people and businesses in emerging markets.”
Ivorypay’s platform is designed to be easily integrated into various e-commerce, retail, remittance and other traditional payment gateway channels, bringing fast settlement and cost-efficient transactions to businesses of all sizes. In addition to its crypto payment gateway, Ivorypay is developing a suite of products—from its crypto payment app Duffle to Crypto POS terminals and Crypto ATMs—aimed at driving seamless crypto adoption in everyday commerce.
Through this partnership, Ivorypay and Hedera will work together to:
- Enhance Ivorypay’s technical infrastructure to support increased transaction volumes
- Expand services to additional African countries
- Develop new blockchain-based payment solutions tailored for African businesses
- Strengthen compliance frameworks to ensure safe and secure transactions
Ivorypay plans to use the investment to accelerate its strategy for scale across different markets on the continent. As part of the agreement, a representative from Hedera will join Ivorypay’s board of advisors to provide strategic guidance as the company scales.
About Ivorypay
Ivorypay is a crypto payment startup on a mission to simplify how businesses and individuals accept, send, and spend stablecoins across Africa. With operations in multiple countries and a commitment to delivering secure, inclusive, and transparent financial services, Ivorypay is at the forefront of Africa’s crypto-enabled digital finance revolution.
About Hedera
Hedera is a cutting-edge distributed ledger platform built on hashgraph consensus, providing unparalleled speed, security, and scalability. Designed for global adoption, Hedera powers a wide range of use cases—spanning payments, identity, and supply chain—enabling organizations to build next-generation applications that reshape industries.
For more information, please contact:
media@ivorypay.io
For additional details on Ivorypay’s products and services, please visit ivorypay.io or follow us on social media.
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