ZendWallet, an emerging African cryptocurrency platform, has unveiled a groundbreaking feature called Zendfx, aimed at simplifying and accelerating global payments through the use of stablecoins—specifically USDT (Tether) and USDC (USD Coin). This initiative targets small and medium-sized enterprises (SMEs) and larger businesses seeking faster, more cost-effective international money transfers.

With over $3 billion in total transaction volume to date, ZendWallet has already established itself as a significant player in Africa’s evolving digital payments space. According to company data, 95% of its previous payments have been successfully completed within 48 hours. Now, the rollout of Zendfx represents a strategic expansion into stablecoin-facilitated global remittance, with the potential to drastically reduce the delays and costs associated with traditional cross-border payment systems.

Key Features and How Zendfx Works

The Zendfx feature enables verified businesses to initiate payments in USDT or USDC directly from their Zend Business accounts, converting funds into major fiat currencies such as USD, EUR, CAD, or GBP. From there, payments can be made to over 150 countries, including key trading destinations like China, the United States, Vietnam, and Hong Kong.

To access the feature, businesses must:

• Register on ZendWallet.com

• Complete the KYB (Know Your Business) verification process

• Fund their accounts with either USDT or USDC

• Submit a valid invoice and beneficiary details, including SWIFT codes

Once these steps are completed, transactions are processed within 24 to 72 business hours, offering a significantly faster and more transparent experience than legacy banking systems.

Zendfx enforces a minimum transaction threshold of $1,000 and allows payments up to $1,000,000 per transaction, catering to a wide range of business sizes and payment needs.

CEO’s Vision: Solving Real-World Payment Challenges

In a statement regarding the product launch, Elujoba Adedamola, CEO of ZendWallet, emphasized the real-world issues facing African businesses that frequently engage in international trade. He explained, “Many businesses across the continent struggle with slow, expensive cross-border transfers due to limitations in the traditional financial system. Zendfx provides a clear, stablecoin-based solution that prioritizes speed, transparency, and compliance.”

This statement underscores the company’s broader mission to harness blockchain technologies to break down barriers for African entrepreneurs and enterprises operating in the global economy.

Africa’s Growing Appetite for Stablecoins

Zendfx enters the scene at a time when Africa’s interest in stablecoins is experiencing a dramatic uptick. Stablecoins—cryptocurrencies pegged to fiat currencies like the US dollar—offer lower volatility than typical cryptocurrencies, making them especially attractive for commercial transactions and remittances.

A 2023 report by blockchain analytics firm Chainalysis highlighted that Sub-Saharan Africa was the fastest-growing region for crypto adoption, with stablecoins accounting for nearly 40% of on-chain transaction volume in the region. This growth has been driven by economic instability, currency devaluation, and challenges in accessing global financial services.

Countries like Nigeria, Kenya, and South Africa have seen particularly strong uptake, with businesses increasingly turning to stablecoins as alternatives to the unreliable and expensive SWIFT-based transfers.

Bridging the Gap in Business Payments

Traditional banks in many African countries often impose tight restrictions on international transactions, not to mention high fees and lengthy approval timelines. For businesses trying to import goods, pay contractors overseas, or fund foreign subsidiaries, the inefficiencies can hinder growth.

Zendfx directly tackles these issues by offering:

• Instant onboarding with blockchain infrastructure

• Stable-value transactions using trusted digital assets (USDT, USDC)

• KYB verification to ensure regulatory compliance

• Global reach with built-in multi-currency support

This model significantly reduces dependence on intermediaries, creating a more direct and efficient payment corridor between African businesses and global partners.

Future Implications and Market Positioning

ZendWallet’s bold move positions it alongside major global players like Circle, Binance, and Paxos, all of whom have been pushing for greater stablecoin adoption in emerging markets. However, Zendfx distinguishes itself by offering a business-first, Africa-centric solution tailored to the region’s unique infrastructural and regulatory challenges.

With remittances and international trade playing an increasingly vital role in Africa’s economic development, platforms like Zendfx could serve as critical building blocks in the continent’s digital financial transformation.

Moreover, the feature’s emphasis on compliance, transparency, and reliability signals an important shift toward greater institutional trust in cryptocurrency solutions—especially at a time when regulatory bodies across Africa, including the Central Bank of Nigeria and Kenya’s Capital Markets Authority, are gradually warming up to blockchain-based fintech solutions.

Conclusion

ZendWallet’s launch of Zendfx marks a pivotal development in the African fintech landscape. By enabling seamless cross-border transactions using stablecoins, the platform not only empowers businesses to operate more efficiently but also contributes to a larger movement toward decentralized financial solutions in Africa.

As regulatory clarity improves and demand for faster, cheaper international payments increases, stablecoin infrastructure like Zendfx may soon become the standard for cross-border commerce on the continent.