ViFi Labs Acquires OneRamp to Capitalise on $540 Billion Institutional Stablecoin Market in Africa and LATAM
ViFi Labs, a prominent decentralised stablecoin protocol focusing on on-chain foreign currency exchange, has announced its strategic acquisition of OneRamp, a leading stablecoin payments provider operating in Africa. This significant move is poised to enable ViFi Labs to make a formidable entry into the burgeoning $540 billion annual institutional stablecoin market across Africa and Latin America (LATAM). The acquisition signifies a clear intent to establish a dominant position in the rapidly expanding digital asset landscape of these dynamic regions.
Expanding Reach and Capitalising on Africa’s Stablecoin Ecosystem
The acquisition of OneRamp brings a wealth of on-the-ground operational expertise and an established user base to ViFi Labs. Founded by Ugandan entrepreneurs Elias Hezron Opio and Jovan Mwesigwa, OneRamp has built a robust platform that simplifies stablecoin transactions by facilitating direct payments to mobile money platforms and traditional bank accounts. This crucial functionality addresses a significant need for seamless digital currency integration into everyday financial systems across the continent. OneRamp currently boasts over 25,000 users and operates effectively in key African markets including Kenya, Nigeria, Uganda, and Tanzania, demonstrating an impressive annualised revenue run rate of $1.2 million. This strong regional presence and proven operational model make OneRamp an invaluable asset for ViFi Labs as it aims to scale its stablecoin offerings beyond traditional crypto users into the vast institutional sector. By integrating OneRamp’s payment rails, ViFi Labs is strategically positioned to bridge the gap between decentralised finance and the significant institutional demand for stablecoin liquidity and exchange.
This strategic acquisition by ViFi Labs underscores the growing importance of stablecoins in facilitating cross-border payments and remittances, particularly within emerging markets. Leveraging OneRamp’s established infrastructure and user base in critical African economies, ViFi Labs is now better equipped to accelerate its mission of providing efficient, on-chain foreign currency exchange venues. The combined entity is well-positioned to unlock the immense potential of the institutional stablecoin market across Africa and Latin America, driving greater financial inclusion and operational efficiency in these high-growth regions.
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