SCRYPT, the Swiss digital asset infrastructure firm, announced on 13 July the expansion of its licensed stablecoin settlement infrastructure across four East African markets: Kenya, Tanzania, Rwanda and Uganda. The expansion gives banks, payment providers and corporate treasury teams a route from local currencies directly into stablecoins, without first sourcing US dollars through correspondent banking channels.
The Zurich-based firm provides trading, settlement and custody to institutional clients through a FINMA-licensed Swiss entity. Norman Wooding, its co-founder and CEO, has worked in digital assets since 2016 and is a former lecturer at the London School of Economics. He answered The Fintech Times’ written questions on the expansion.
Why East Africa, and why now? What makes Kenya, Tanzania, Rwanda and Uganda the right corridors for licensed stablecoin settlement?
Africa represents one of the clearest examples of where stablecoins are moving beyond speculation and becoming practical financial infrastructure. The demand is being driven by real economic needs: businesses need better ways to access dollar liquidity, manage treasury operations and move value across borders efficiently.
East Africa is particularly compelling because these markets combine growing digital adoption with increasingly connected economies and businesses that operate internationally. Companies across the region are engaging in cross-border commerce every day, but many still face friction when moving money through traditional financial systems.
What makes these corridors important is that the need already exists. Stablecoins are not creating a new behaviour; they are providing a more efficient layer for financial activity that is already happening. The opportunity is to bring licensed, institutional-grade infrastructure to support those flows.
For SCRYPT, this expansion is not simply about geographic growth. Africa is a strong proof point for our broader thesis: when financial systems face friction, businesses need reliable rails that allow them to move value faster, more transparently and with greater certainty. Stablecoins are increasingly becoming part of that stack.
What does moving directly from local currencies into stablecoins change for banks, payment providers and corporate treasuries in markets with constrained dollar liquidity?
The biggest change is removing unnecessary friction from the settlement process.
Today, many businesses operating across borders have to navigate multiple layers to complete international payments. They may need to source dollars through traditional banking channels, manage foreign exchange conversions and rely on correspondent banking networks that involve multiple intermediaries. Each additional step can introduce cost, delay and uncertainty.
By enabling direct pathways from local currencies into stablecoin settlement, businesses have a more efficient way to access dollar-denominated liquidity and move value internationally. For banks, payment providers and corporate treasury teams, this creates an additional financial rail that can complement existing infrastructure.
The important distinction is that stablecoins are not replacing the financial system. Banks and payment providers remain essential. What is changing is that businesses now have access to another settlement layer that can operate continuously and reduce friction where traditional systems struggle.
We have seen this shift globally: stablecoins started as a way to move between fiat and digital assets, but their real utility is increasingly emerging in payments, treasury management and settlement. The infrastructure is becoming the product.
How does a licensed, regulated stablecoin settlement layer differ from the informal crypto flows that already exist in these markets?
The difference is trust, operational resilience and accountability.
Digital assets have demonstrated their usefulness in many markets because they solve real problems around access, speed and value transfer. But businesses and financial institutions require much more than access to a digital asset. They need reliable counterparties, secure custody, transparent execution, operational controls and a framework they can confidently integrate into their existing financial processes.
That is where a licensed provider becomes critical. The next phase of digital asset adoption will not be driven by informal activity or speculation. It will be driven by businesses integrating digital assets into real workflows: payments, treasury management, liquidity operations and settlement.
At SCRYPT, our role is to provide the trusted foundation that enables businesses to do that confidently. We bring together trading, settlement and custody through a single licensed partner, giving organisations a secure and reliable way to integrate digital assets into their operations.
The broader shift we are seeing is that stablecoins are becoming less about crypto-native users and more about how money moves. The end user may never need to think about the underlying technology. They simply need a faster, more efficient and reliable way to move value.
What were the hardest regulatory and banking relationships to build for this expansion, and what did you learn?
Building a trusted financial network requires much more than technology. The hardest part is creating the foundation around that technology: ensuring strong licensing frameworks, establishing trusted banking relationships, developing robust operational processes and creating confidence among partners.
One of the biggest lessons we have learned is that institutional adoption depends on trust. Businesses are not looking for a short-term solution; they are looking for a trusted platform they can rely on as they scale their operations.
That means approaching digital assets with the same level of discipline expected from traditional financial services. Security, transparency, compliance and reliability are not optional: they are the foundation.
Another important lesson is that every market has different requirements. You cannot take a one-size-fits-all approach. Success requires understanding local currency dynamics, banking structures and the needs of businesses operating in those markets.
Ultimately, the opportunity is not just about introducing new technology. It is about building the bridges between digital assets and the existing financial system. That requires patience, strong partnerships and a long-term commitment to doing things properly.
What comes next for SCRYPT, and how big can stablecoin settlement in Africa become?
The opportunity is significant because the underlying demand is already clear. Businesses across Africa need better ways to manage cross-border payments, access liquidity and operate efficiently in markets where traditional systems can create friction.
For SCRYPT, this is not a future roadmap; our African settlement capabilities are already live today across four East African markets. Businesses and financial service providers can already access digital asset trading, settlement and custody through our FINMA-licensed Swiss entity, with active currency support across markets including Nigeria, Kenya, Tanzania, Uganda and Rwanda.
We believe the future of finance will be increasingly connected, digital and always-on. Stablecoins are a key part of that evolution because they provide a settlement layer that can operate globally and efficiently. Africa is one of the strongest examples of why this matters. The adoption story is not about speculation; it is about solving practical financial challenges. Businesses need reliable ways to move value, manage treasury and participate in the global economy.
We’ll continue building the capabilities that allow digital assets to become a trusted part of financial operations, not as a replacement for existing systems, but as a powerful extension of them.
The post SCRYPT Takes Licensed Stablecoin Settlement Into East Africa appeared first on The Fintech Times.
