Kredete Acquires Gravv as Nigerian Fintech Expands Stablecoin Infrastructure

Nigerian fintech Kredete has acquired Gravv, a payments infrastructure company that uses stablecoins to connect banks, blockchain networks and local payment systems.

Gravv has handled more than $3 billion in annualised transaction volume for over 1,000 businesses across more than 100 countries. The company also has relationships with seven global banking partners.

The acquisition gives Kredete direct control over technology used for foreign exchange, liquidity, settlement and payment routing. It also allows the fintech to make Gravv’s infrastructure available to other banks, fintechs, platforms and developers.

Building a Single Payment Layer

Gravv sits between financial institutions and the different networks needed to move money internationally.

Its infrastructure brings together multi-currency accounts, stablecoin settlement, foreign exchange, liquidity management and local payouts. It also connects to card and banking infrastructure and blockchain networks.

The system is designed to handle several parts of a transaction automatically. It can assess liquidity, select payment routes, manage settlement and reconcile transactions.

For businesses operating across several markets, this can reduce the need to work with separate providers for different parts of a payment.

Kredete is now making Gravv available beyond its own operations, giving other financial companies and developers access to the infrastructure.

Kredete Bets on AI-Powered Money Movement

Kredete founder and CEO Adeola Adedewe said the company sees financial infrastructure as an important part of its business as payment systems become more automated.

Chief technology officer Hakeem Oriola said international payments involve several moving parts, including banks, blockchain networks, liquidity, compliance and local payment providers. Gravv brings these connections together within one infrastructure layer.

Artificial intelligence is also part of Kredete’s longer-term plans.

Chief product officer Ebuka Arinze said AI agents could eventually initiate and process a large share of global commerce. Kredete is building infrastructure that could allow those systems to make payments and handle decisions around routing and settlement.

Expanding African Fintech Infrastructure

Kredete was founded in 2022 and serves consumers and businesses in emerging markets, including African diaspora communities.

The company provides services for moving, converting, holding and settling money across borders. Adding Gravv gives it greater control over the infrastructure behind those transactions.

The technology also gives banks and fintechs another way to use stablecoins for cross-border settlement without having to establish separate connections to multiple banks, blockchains and local payment networks.

For Kredete, the acquisition is also a move beyond its own products. By opening Gravv to external users, the company can provide payment infrastructure to other businesses building financial services for emerging markets.

The $3 billion-plus annualised volume already processed by Gravv gives Kredete an established payment network to build around.