Hedera invests strategically in stablecoin payment company, Ivorypay
In a significant move for the African fintech landscape, Hedera Hashgraph, a leading decentralized ledger network, has made a strategic investment in Ivorypay, a payment solutions company focused on African markets.
The exact amount of the investment remains undisclosed, with both Hedera and Ivorypay refraining from providing specific details. A Hedera spokesperson declined to comment on the investment details, while Ivorypay did not respond to requests for comments.
The partnership aims to leverage Hedera's distributed ledger technology to enhance Ivorypay's payment infrastructure, improving transaction speed, security, and scalability. This could significantly boost Ivorypay’s service reach and efficiency across African markets.
Ivorypay, which operates crypto payments APIs for users to receive stablecoin payments, plans to integrate Hedera's distributed ledger technology into its platform. This move is expected to enhance the security and efficiency of its services.
This partnership is not the first investment Hedera has made in a stablecoin payments company. Prior to this, Ivorypay received $135,000 in capital investment from CV VC as part of a blockchain accelerator program.
With this investment, a Hedera representative will be admitted into Ivorypay's board of advisors, marking a strategic alignment between the two companies. The investment is likely part of Hedera's strategy to support startups within its ecosystem.
Ivorypay, which has processed $80 million in transaction volume and onboarded 8,000 merchants across four countries, is planning to expand its services to Ghana, Kenya, and South Africa. The partnership could potentially lead to new opportunities for both companies in the African market.
Businesses using Ivorypay's payment gateways can receive crypto payments and be paid in fiat, with the crypto-fiat conversion handled by Ivorypay. The integration of Hedera's technology may further streamline this process, providing a more seamless experience for users.
As the fintech industry continues to evolve in Africa, partnerships like this one between Hedera and Ivorypay are set to shape the future of digital payments on the continent. More details about the partnership's impact and the exact investment amount are expected to be revealed in upcoming official press releases from Hedera or Ivorypay.
- Hedera Hashgraph, a decentralized ledger network, has made a strategic investment in Ivorypay, a payment solutions company focused on African markets, which plans to integrate Hedera's distributed ledger technology into its platform to enhance the security and efficiency of its services.
- This partnership is likely part of Hedera's strategy to support startups within its ecosystem, with a Hedera representative being admitted into Ivorypay's board of advisors.
- Ivorypay, which processes a high transaction volume and onboards a significant number of merchants, is planning to expand its services to Ghana, Kenya, and South Africa, potentially leading to new opportunities for both companies in the African market.
- Ivorypay operates crypto payments APIs for users to receive stablecoin payments, and businesses using its payment gateways can receive crypto payments and be paid in fiat, with the crypto-fiat conversion handled by Ivorypay. The integration of Hedera's technology may further streamline this process, providing a more seamless experience for users.
- As the fintech industry continues to evolve in Africa, partnerships like this one between Hedera and Ivorypay are set to shape the future of digital payments on the continent, with more details about the partnership's impact and the exact investment amount expected to be revealed in upcoming official press releases.
