Nigerian fintech Kredete acquires Gravv, targeting diaspora payment infrastructure

Nigerian fintech Kredete announced on September 21, 2026, the acquisition of Gravv, a stablecoin payment infrastructure platform, for an undisclosed amount. The deal went largely unnoticed outside of specialized circles, but it addresses a very concrete issue for millions of Africans: the cost and reliability of money sent from one country to another.

Founded in 2022 by Adeola Adedewe, who now serves as CEO, Kredete was built around transfers and currency conversion for emerging markets and African diaspora communities. The company claims over 6.5 million users, approximately $18 billion in annualized payment volume, and more than 60 destination countries, according to TechCentral. It has raised $24.75 million since its inception. The leadership team also includes Hakeem Oriola, Chief Technology Officer, and Ebuka Arinze, Chief Product Officer.

Owning the plumbing rather than renting it

Gravv, for its part, connects banks, blockchain networks, and local payment systems. The platform manages multi-currency accounts, stablecoin settlement, foreign exchange, liquidity, and local payouts. It reportedly handles more than $3 billion in annualized volume for over 1,000 businesses across more than 100 countries, with seven international banking partners, according to Business Tech Africa.

The value of the acquisition lies in this logic of integration. Until now, African fintechs have largely rented their settlement infrastructure from foreign players, which weighs on margins and leaves control elsewhere. By internalizing Gravv, Kredete intends not only to reduce its dependency but also to resell this capacity to other banks and fintechs operating in emerging markets. "Infrastructure is the defensive moat," summarized Adeola Adedewe, as quoted by TechCentral.

What this changes for transfers

Diaspora remittances represent tens of billions of dollars for the continent each year, often exceeding official development assistance, and the fees charged on these transfers remain among the highest in the world for African corridors. Every percentage point saved on these commissions goes directly back to the households receiving the money.

Stablecoin settlement promises faster and cheaper transfers, but it remains nascent and its regulatory framework varies significantly from one African country to another. The challenge for Kredete, as for its competitors, will be to demonstrate that the reduction in costs actually reaches the end users, and not just the balance sheets.