Interswitch Group, Africa’s leading Integrated Payments and
Digital Commerce Solutions company and Interstellar Inc., an Enterprise
Blockchain Infrastructure Services Company have been working together over the
last two years, carrying out blockchain technology research.
As part of the partnership, Interstellar’s Blockchain
technology stack (STARGATE) will be integrated with Interswitch’s
industry-leading payments and digital commerce technology.
This will further enhance the shared vision of the
businesses to drive greater financial inclusion and prosperity across the
continent.
Both companies have been preparing for the blockchain
revolution in the African market with several ongoing initiatives including a
Pan-African Payment Ecosystem (PAPE) powered by a private permissioned
blockchain network which includes a consortium of Banks and Fintech players.
Ernest Mbenkum, Founder and CEO at Interstellar, said, “We
are delighted to have established this strategic partnership with Interswitch,
one of Africa’s most valuable fintech businesses. This marks the genesis of an
innovative and collaborative partnership aimed at delivering impact-focused and
enterprise grade blockchain-powered services across the African continent.”
Interswitch has been at the forefront of major innovation
milestones in payments in Nigeria for the last 20 years, garnering recognition
along the line as one of the fastest-growing technology companies in Africa
(Deloitte Fast-Growth 50) and gaining acclaim as the first homegrown African
Fintech Unicorn following a minority investment by Visa in late 2019. Today, Interswitch’s
current business footprint covers more than 26 countries in Africa.