South Africa-based CrissCross, a cross-border payments infrastructure platform operating in more than 30 African markets, has announced (insert original source link) an investment from Circle Ventures, an affiliate of Circle Internet Group. The investment was announced on 27 October 2026 and was made through Stitch Group, the parent company of CrissCross. The announcement does not disclose the size or terms of the investment.
Infrastructure for enterprise payments across African markets
CrissCross provides infrastructure for enterprise cross-border payments, bringing together local collections, automated payouts, corporate treasury management, and real-time foreign exchange (FX) through a single API. The platform connects blockchain-based settlement with fiat delivery to local bank accounts and mobile wallets across the continent.
The company reports that it supports more than 20 currencies and maintains 99.99% uptime. Its client base includes multinational enterprises, financial institutions, and platforms that need to move funds through some of Africa’s most complex payment corridors.
Stablecoins as a settlement layer
The investment comes as businesses and financial institutions look for faster, lower-cost, and more transparent alternatives to traditional correspondent banking in African markets. According to CrissCross, stablecoins have shifted from a speculative curiosity to a functioning settlement layer. This shift is particularly visible in markets where currency volatility and thin liquidity corridors can create friction for cross-border transfers.
CrissCross describes its regulated infrastructure as a link between blockchain settlement and on-the-ground payment rails in markets that global platforms have historically struggled to reach. The model reflects a practical requirement in the region: while value can be settled on-chain, funds still need to reach recipients through local bank accounts and mobile wallets in each market.
Implications for the cross-border payments ecosystem
For CrissCross, the backing from Circle Ventures is presented as validation of its approach. James Cope, GM, CrissCross, described Africa’s cross-border payments market as large, complex, and underserved, and said the investment supports the company’s work on infrastructure designed to handle that complexity at scale.
Brian Schultz, Vice President of Corporate Development and Ventures at Circle, said the company supports CrissCross as it scales stablecoin-powered payments infrastructure across African markets, which the representative characterised as some of the most complex and underserved corridors globally.
The deal brings together Circle Ventures and a provider whose model relies on combining blockchain settlement with local fiat delivery. With an existing footprint across more than 30 markets and a client base of enterprises, financial institutions, and platforms, CrissCross intends to use the investment to scale its cross-border payments infrastructure in Africa. Further details on how the funding will be deployed, including any planned market expansion or product development, have not been disclosed.
