Paga, a Nigerian fintech pioneer, has partnered with Sui Blockchain to integrate cryptocurrency infrastructure into its platform.
Important points:
- Paga partnered with Sui on May 7th to launch high-yield accounts and crypto rails for 1 billion people.
- Paga joins Flutterwave and Paystack to explore blockchain for payments, finance, and global payments
- Paga leverages its historic $42 billion scale to expand its business $USD Sui Stablecoin yields and asset tokenization.
Digital finance roadmap
Paga, the Nigerian fintech pioneer, has partnered with Sui Blockchain, marking the company’s most significant commitment to crypto infrastructure to date. The collaboration was announced at Sui Live in Miami on May 7, a few weeks after founder Tayo Ovios was appointed group CEO in April.
The deal will reportedly see Paga expand beyond traditional mobile money and payments to include stablecoin products, tokenized assets, and blockchain-powered cross-border remittances. Ovios said the partnership aims to build financial rails that will enable Africans to hedge currency fluctuations, access global markets and participate in new forms of digital finance.
“These are the walls of a cage, and unless we tear them down, economic freedom on this continent will be incomplete,” Ovios told attendees. “I found its partners, Paga and Sui.”
According to the companies, the integration will $USD SuiA new dollar stablecoin issued by Sui. We will also focus on crypto on-ramps and off-ramps across Paga’s operational markets, as well as tokenized real-world assets such as real estate, bonds, and solar projects.
Ovios said the roadmap could allow Paga users to hold interest-bearing dollar balances, convert between local currencies and cryptocurrencies with minimal friction, invest in previously inaccessible assets, and send money across borders “as easily and cheaply as sending an email.”
Paga’s move marks a continued shift by African fintech companies to explore blockchain for payments, finance and global payments. In October 2025, Flutterwave partnered with Polygon to build a stablecoin payments infrastructure, while Paystack, another Nigerian payments giant, reorganized into The Stack Group to deepen research into emerging technologies.
On March 31, the two companies were approved to participate in the Central Bank of Nigeria’s Anti-Money Laundering Supervision Program for Virtual Asset Service Providers. Oviosu saw an opportunity from a demographic perspective.
“57 percent of African adults do not have a bank account,” he says. “I think Africa is the largest financial greenfield market in the world.”
Paga currently processes $1.5 billion in payments each month. In 2025, the company processed $11 billion in 169 million transactions. Since our founding in 2009, we have processed payments totaling $42 billion from 653 million transactions.
Ovios said the scale gives the Sui partnership momentum.
“The $42 billion is in tuition paid, salaries received, and grandmothers receiving money from their sons in the city, instantly, securely, and at a fraction of the cost,” he said.
Sui released $USD Suia USD-backed stablecoin with a yield, will be issued on May 4th, allowing holders to earn interest just by storing digital dollars in their accounts. This will be the second digital currency in the Sui ecosystem, following the launch of the native SUI token in 2023. The stablecoin will be issued by Bridge, a US crypto infrastructure company acquired by Stripe for $1.1 billion in 2025.
