MENA-Africa B2B Stablecoin Corridor Seeks to Streamline Cross-Border Trade

A collaborative effort by Aptos Foundation, HashKey MENA, and Pan-African infrastructure provider Daya has led to the launch of a pilot program aimed at establishing a regulated B2B stablecoin payment corridor between the Middle East and Africa. The initiative seeks to streamline cross-border transactions for businesses in the region.

The architecture behind this corridor is designed to address pressing issues such as high costs, slow processing times, and liquidity shortfalls that have traditionally plagued international trade.

HashKey MENA operates under the regulatory oversight of Dubai's Virtual Assets Regulatory Authority (VARA), ensuring compliance with existing frameworks. Daya provides infrastructure that facilitates blockchain settlement in Africa, including fiat on-ramps and off-ramps, as well as virtual Naira accounts for Nigerian businesses.