NALA Money Announces Stablecoin On‑/Off‑Ramp Infrastructure for Tanzanian Market

The move, announced on X by the company’s chief technology officer Benji Fernandes, is aimed at bridging fiat and digital assets for licensed providers, a capability he predicts will become “10x more valuable” as the region’s crypto ecosystem matures.

The new rail will enable users to convert Tanzanian shillings into pegged stablecoins and back again, using NALA’s existing network of agents and banking partners. By integrating the service directly into its app, NALA hopes to give everyday consumers a seamless gateway to cross‑border payments, remittances and decentralized finance (DeFi) products that have traditionally been out of reach for those without a bank account.

The announcement comes at a time when Africa is witnessing a surge in stablecoin adoption. According to the African Development Bank, the continent’s stablecoin transaction volume grew by more than 150 % in the past year, driven by high remittance fees and volatile local currencies. Yet, regulatory uncertainty and a lack of reliable fiat‑crypto bridges have hampered broader usage. NALA’s approach—securing a licensed provider status and partnering with local banks—could set a template for other fintechs seeking to navigate the regulatory landscape.

The timing aligns with a broader push from African central banks to formalise digital currency frameworks. Kenya’s central bank, for instance, recently issued guidelines for stablecoin issuers, while Nigeria’s central bank has begun piloting a digital naira. In this environment, NALA’s infrastructure could serve as a critical piece of the “digital payments stack,” allowing merchants and consumers to transact in stablecoins without exposing themselves to the volatility of unpegged cryptocurrencies.

While NALA has not disclosed specific funding details for the project, the company previously raised $12 million in a Series A round led by venture capital firms focused on emerging markets. Analysts speculate that the stablecoin rail could unlock additional capital, as investors increasingly look for fintechs that can provide compliant crypto services at scale.

Fernandes emphasized that the initiative is not merely a technical upgrade but a strategic expansion of NALA’s ecosystem. “We see a future where the line between fiat and crypto blurs for the average user,” he said in the X post. “Providing a trusted, licensed pathway for stablecoins will unlock new economic opportunities for individuals and businesses across Tanzania and the wider region.”

If successful, NALA’s on‑/off‑ramp could accelerate the adoption of stablecoins for everyday transactions, from paying utility bills to settling cross‑border trade. It also positions the company as a potential hub for other crypto‑related services, such as lending, savings and tokenised assets, that rely on robust fiat connectivity.

Source: here