Velocity, an infrastructure platform that connects financial institutions and global businesses to onchain systems, and CrissCross, a payments and FX infrastructure provider operating across African markets, announced a strategic partnership. The agreement combines Velocity’s institutional network and stablecoin infrastructure with CrissCross’ coverage of local markets. The aim is to give financial institutions and enterprises a more direct route between onchain liquidity and the domestic currencies and payment systems they use.
Network expansion and joint development
Through the partnership, Velocity extends its network to more than 30 additional markets in Africa. For CrissCross, the arrangement increases connectivity between its regional infrastructure and the financial institutions, liquidity providers, and enterprises that use stablecoins for payments, settlement, and treasury operations, as well as for moving funds within African markets.
The two companies also plan to develop new capabilities that bring together stablecoins, real-time payment rails, and virtual account infrastructure. Details on specific products or launch timelines have not been disclosed.
Stablecoins already play a growing role in cross-border money movement across Africa. However, moving liquidity globally covers only part of the process. Institutions still need to collect, convert, hold, and pay out funds through domestic currencies, accounts, and payment systems. Linking these layers is the central focus of the partnership.
According to Olann Kerrison, Chief Network Officer at Velocity, the objective is to connect global liquidity more effectively with the infrastructure businesses depend on in each market. The official noted that CrissCross has built local payments and FX capabilities in a region where stablecoin usage is already widespread. In the official’s view, combining that reach with Velocity’s institutional network allows the companies to build more complete payment and treasury solutions for institutions operating across these corridors.
Reducing fragmentation in cross-border flows
The companies aim to reduce the fragmentation that has characterised cross-border money movement. In this area, access to global liquidity and access to domestic payment infrastructure have often been managed through separate providers and integrations.
James Cope, General Manager at CrissCross, said cross-border payments increasingly depend on the ability to move between different forms of money and payment systems without adding complexity for the customer. It was added that CrissCross has focused on building the local infrastructure and liquidity needed to operate across African markets. The partnership with Velocity extends this connectivity into a broader institutional stablecoin network, giving global financial institutions and enterprises a more direct route into those markets.
Stablecoins alongside existing rails
The partnership reflects the companies’ shared view that stablecoins will increasingly operate alongside existing financial infrastructure rather than separately from it. In this model, global liquidity can move onchain, while local accounts, currencies, and payment rails remain central to how businesses receive and deploy funds.
Through the process of connecting these systems, Velocity and CrissCross intend to let institutions choose the appropriate rail for each stage of a transaction, from global liquidity and settlement through to local collections and payouts.
