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London-based stablecoin payments and treasury platform Velocity and Africa-focused payments and FX infrastructure company CrissCross have announced a partnership.
The collaboration aims to link global stablecoin liquidity with local financial infrastructure across African markets. The deal pairs Velocity’s institutional network and stablecoin infrastructure with CrissCross’ reach in local markets.
Financial institutions and businesses will get a more direct way to move between onchain liquidity and the currencies and payment systems they use locally.
“The opportunity is to connect global liquidity much more effectively with the infrastructure businesses rely on in each market. CrissCross has built strong local payments and FX capabilities across a region where stablecoins are already widely used. Combining that reach with Velocity’s institutional network allows us to build more complete payment and treasury solutions for institutions moving money across these corridors,” said Olann Kerrison, Chief Network Officer at Velocity.
Founded by Eric Queathem, Velocity is a stablecoin payments and treasury platform built for chief financial officers and treasurers.
It combines regulated stablecoins with traditional financial infrastructure so companies can move funds in real time, manage liquidity and simplify global settlement.
It also helps finance teams reduce FX and liquidity friction, free up trapped capital and see their global cash flows more clearly.
The partnership between Velocity and CrissCross expands their reach into over 30 African markets. It connects CrissCross’s infrastructure with businesses and institutions that use stablecoins for payments and financial management.
They plan to create new products involving stablecoins, real-time payment systems, and virtual accounts.
Stablecoins are becoming increasingly important for cross-border payments in Africa, but institutions still rely on local currencies and payment systems.
Previously, accessing global liquidity and local payment options often required different providers and complicated integrations. This partnership aims to streamline the process, allowing institutions to choose the best payment method for each part of a transaction, from global settlements to local payments.
“Cross-border payments increasingly depend on being able to move between different forms of money and different payment systems without adding complexity for the customer. We have focused on building the local infrastructure and liquidity required to operate effectively across African markets. Partnering with Velocity extends that connectivity into a broader institutional stablecoin network, giving global financial institutions and enterprises a more direct route into the markets we serve,” said James Cope, General Manager at CrissCross.
CrissCross provides cross-border payments infrastructure and corporate treasury management for businesses operating in more than 30 African markets.
The platform handles local collections, payouts and FX conversion through a single API. It has direct banking relationships in the markets it serves and deep in-country liquidity.
CrissCross is licensed with FINTRAC as a Money Services Business in Canada. In South Africa it holds FSP, CASP and TOC licences, along with other regulatory approvals in its operating markets.
