African payments infrastructure company Paga Group has announced a strategic partnership with Sui to integrate Sui Dollar (USDsui), the blockchain network’s native stablecoin, into its ecosystem.
The partnership, unveiled by Founder and Group CEO of Paga Group, Tayo Oviosu, during the Sui Live in Miami Beach on Thursday, May 7, 2026, marks another major international collaboration for Paga after its recently announced partnership with PayPal earlier this year.
With the partnership, Paga is seeking to expand access to global payments, dollar-based savings, and investment products across Africa, leveraging blockchain-native stablecoin payment rails.
Sui Dollar (USDsui) is the native stablecoin of the Sui blockchain, and was launched in March 2026. It maintains a 1:1 peg to the US dollar and is backed by US Treasury-grade liquid assets.
What the Paga founder is saying
Speaking exclusively to Nairametrics, Oviosu said the partnership aligns with Paga’s long-term mission of delivering financial freedom to Africans by enabling seamless money movement, global commerce, and easier access to savings and investment opportunities.
- “What we’re trying to do at Paga is really to deliver financial freedom to Africans. That financial freedom is about the ability to move money quickly and affordably, transact globally regardless of currency, and be able to save and invest locally or internationally with ease,” he said.
According to him, Paga has spent the last 17 years building the infrastructure required to achieve that goal, processing approximately $1.5 billion monthly in transaction value.
In 2025 alone, the company processed over $11 billion across 169 million transactions through its consumer payments app, enterprise infrastructure business, and merchant platform.
Despite this growth, Oviosu said major structural problems still exist across Africa’s financial ecosystem.
- “Currency stability is eroding value for people who are saving. Cross border payments are still broken. If you’re importing goods in Nigeria, it’s taking three to four days to effect a payment, and you’re paying 6.4% on average, which is double the global average,” he said.
More insights
Under the partnership, Paga will integrate Sui Dollar into its enterprise API suite and consumer app, giving businesses and users access to stablecoin-based payment rails without relying on correspondent banking intermediaries.
The company also plans to roll out high yield US dollar accounts powered by USDsui.
- “The beauty of the Sui dollar stablecoin is that it earns yield while passively sitting there. People can protect their savings and also earn from those savings,” Oviosu explained.
Beyond payments and savings, the partnership will also support tokenized real world assets, allowing Africans to invest in global assets such as bonds and projects located outside the continent.
- “This would enable somebody sitting in Lagos to invest in a project in Hong Kong and make money from that project,” he added.
As part of the deal, Paga said it will adopt Sui as the primary blockchain across its ecosystem and jointly develop developer tools and infrastructure for fintech builders across Africa.
Commenting on the partnership, Adeniyi Abiodun, said Africa’s growing developer ecosystem and rising interest in blockchain technology make the continent a strong market for blockchain powered financial infrastructure.
According to him, African users have been signaling their desire for better settlement with better value for years.
He cited a recent study, which showed that 95% of Nigerian respondents would rather receive stablecoins than the Naira.
- “By collaborating with Paga, we’re meeting users where they already are: this partnership benefits users across the continent, allowing businesses and individuals to transact in a dollar-denominated layer without going through correspondent banks, and without FX leakage or waiting days for settlement,” he said.
Meanwhile, Oviosu also addressed concerns around regulation and compliance, clarifying that the partnership is being executed through Paga Group’s UK entity and that the initial services will be offered through its US operations rather than directly through its Nigerian business.
He added that any funds entering Nigeria would pass through the company’s licensed remittance infrastructure and be reported to the Central Bank of Nigeria in line with existing regulatory requirements.
- “Any money coming into Nigeria and off ramping into Nigeria will come through our remittance company, Paga Remitt, and we’ll report all the dollars to the central bank, as we’ve done with PayPal and other channels,” he said.
According to him, Paga is also engaging regulators on how digital assets and stablecoins should be treated within Nigeria’s evolving regulatory framework.
What you should know
The partnership with Sui makes it the second strategic deal for Paga this year. Earlier in January, the fintech company announced partnership with Paypal, bringing back the global cross-border payment company to Nigeria after years of exit.
Through the partnership, Nigerians can now link their PayPal accounts to Paga wallets, enabling them to receive funds directly through PayPal, a functionality that had previously been unavailable.
