Daya raises $2.4M for Africa stablecoin payment rails
Alliance-backed fintech Daya has raised $2.4 million to build stablecoin payment rails in Africa, entering a market where Yellow Card recently secured Swiss regulatory approval and Standard Chartered hosted a digital assets summit in Accra. The raise intensifies competition in Africa's stablecoin payments infrastructure alongside Ivorypay's X402 machine-to-machine launch. For Ghana and West Africa investors, the clustering of capital and regulatory activity around stablecoin rails signals a structurally important payments layer forming rapidly.
Daya: the corridor is the whole point
Daya's Africa-to-Middle East pilot — businesses settling in stablecoins while receiving and paying out in local currencies at both ends — is the specific thing worth watching here.
Every business in Accra that imports goods from Dubai or exports to the Gulf knows the pain: correspondent banks, delays, fees eaten on both sides. Daya is building around that by using stablecoins as the middle layer nobody has to touch directly.
Whether a Nigerian pre-seed startup can actually make that corridor reliable at scale is an open question. But if it works, it's useful infrastructure for Ghanaian traders long before anyone in Accra has heard of Daya.
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- Alliance-backed fintech Daya raises $2.4 million to build stablecoin payment rails · techcabal.com · T1