STABLECOINS | Nigerian Fintech, Kredete, Launches Africa’s First Stablecoin-Backed Credit Card

Kredete, a Nigerian fintech startup helping African immigrants in the United States build credit using stablecoin-powered payments, has officially launched Africa’s first stablecoin-backed credit card.

Founded in 2023 by Adeola Adedewe, Kredete enables users to send money to over 40 countries with low fees, while each transaction helps improve their credit score in their country of residence. By leveraging blockchain technology, the startup offers a seamless and affordable way for African immigrants to establish a financial foundation in their new homes.

As reported by BitKE, Kredete raised $2.25 million in seed funding in September 2023 and participated in the third cohort of VISA’s Africa Fintech Accelerator.

Since launching in 2023, the startup has seen rapid growth, with its user base surpassing 300,000 and transaction volumes exceeding $100 million. On average, users have seen their credit scores increase by 23 points within six months of using the platform, highlighting its impact on financial inclusion.


The company has now debuted its stablecoin-backed credit card in partnership with VISA, Stellar, and Rain. The product gives users across more than 40 African countries access to stable digital dollar spending – online and in physical stores – in over 100 countries worldwide.

The card is linked directly to a user’s digital wallet and settles transactions in $USDC (USD Coin) with real-time foreign exchange conversion at the point of purchase. This enables users to spend their stablecoins instantly and seamlessly using a globally accepted VISA card.

“Access to money shouldn’t stop at your country’s borders,” said Adedewe.

“We’ve built a system that lets Africans store value in digital dollars and use those funds however and wherever they choose – instantly.”

According to previous reporting by BitKE, Kredete is part of a growing trend in Africa where stablecoin adoption is rising in response to local currency volatility and limited access to traditional banking infrastructure. By combining DeFi rails with real-world utility, Kredete’s solution appeals to both immigrants seeking better credit outcomes and users in African markets looking for more reliable payment options.

The card launch marks a key milestone in the startup’s mission to make financial tools more accessible across the African continent and diaspora communities.