FUNDING | Nigerian StableCoin Startup, IvoryPay, Secures Investment From Hedera After Processing Over $80 Million From Over 8K Merchants

BitKE · 2026-02-04T14:17:04+00:00

IvoryPay, a blockchain payment platform, has partnered with Hedera to enhance its services. With over $80 million in transactions and 8,000 merchants, this collaboration will improve infrastructure, expand services in Africa, and foster digital currency adoption.

BitKE

2026-02-04 14:17:04

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IvoryPay, a blockchain-powered payment and remittance platform enabling businesses across Africa to accept stable cryptocurrency payments, has secured a strategic investment from Hedera, a decentralized ledger network.

As part of this partnership, IvoryPay will incorporate Hedera’s distributed ledger technology into its platform and welcome a Hedera representative to its board of advisors.

Founded in 2022, IvoryPay has grown rapidly, processing over $80 million in transactions and onboarding more than 8,000 merchants across Nigeria, Ghana, Kenya, and South Africa. With a mission to simplify cross-border transactions, IvoryPay enables businesses to accept, transact, and settle in stablecoins which account for approximately 43% of the total cryptocurrency transaction volume in sub-Saharan Africa.

IvoryPay’s platform is built for easy integration with e-commerce, retail, remittance, and other traditional payment gateways, offering businesses of all sizes fast settlements and cost-efficient transactions.

Beyond its crypto payment gateway, IvoryPay is expanding its product suite with innovations like:

The Duffle crypto payment app
Crypto POS terminals, and
Crypto ATMs

enhancing seamless crypto adoption in everyday commerce.

“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.”

By utilizing Hedera’s high-throughput, low-cost, and enterprise-grade blockchain technology, IvoryPay aims to further improve its platform’s speed, security, and reliability. This partnership will expand access to stablecoin-based payments for a wider range of merchants and consumers, fostering the adoption of digital currencies across Africa’s growing economy.

Through this collaboration, IvoryPay and Hedera will jointly:

Improve IvoryPay’s technical infrastructure to handle higher transaction volumes
Expand services to more African countries
Develop innovative blockchain-based payment solutions tailored for African businesses
Strengthen compliance frameworks to ensure secure and reliable transactions

“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.”

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