Tanzania-based fintech startup, NALA has announced a strategic partnership with global payments infrastructure provider Noah.
This collaboration aims to modernize cross-border payments by establishing an instant stablecoin settlement rail specifically designed for emerging markets.
Overhauling Global Money Movement
It’s noted that the traditional cross-border payment process often takes several days to complete.
However, by integrating Noah’s global USD collection infrastructure with NALA’s regulated stablecoin network, this new system allows businesses in Africa and Asia to collect USD and disburse local currency within minutes.
According to the companies, this partnership facilitates:
- Instant USD settlement and real-time local currency payouts.
- 24/7 cross-border treasury operations that bypass traditional banking hours.
- Fully compliant flows between digital dollars and local fiat money.
Shah Ramezani, founder and CEO of Noah, noted that traditional systems have long failed these regions:
“For years, emerging markets have been underserved by global payment infrastructure that was never designed for its scale, speed, or realities. This partnership with NALA is about building a new payment network that removes structural friction… Stablecoins are not the story on their own – they are the rail that finally makes instant, compliant USD settlement possible at scale.”
Rapid Scaling and Financial Growth
This expansion follows a period of significant momentum for NALA.
Last year, the company secured a US$40 million funding round to fuel its growth. Consequently, in 2023, NALA expanded into the European Union, adding 19 additional send markets to its existing network, which connects the UK, US, and Europe to Tanzania, Kenya, Rwanda, Uganda, and Ghana.
Furthermore, the demand for these services has reached record highs:
- 18 Months: The time it took for NALA’s infrastructure business to scale from zero to US$1 billion in processed volume.
- 30x Growth: The year-over-year increase for Rafiki, NALA’s infrastructure platform, which now powers major partners like MoneyGram.
- 100x Demand: The surge in demand for stablecoin on- and off-ramps in emerging markets over the last 12 months.
A Vision Beyond Remittances
While NALA began as a money transfer platform, its leadership sees a much larger future in global business payments.
On his part, Benjamin Fernandes, founder and CEO of NALA, explained that the collaboration with Noah solves a critical bottleneck for international companies.
“We built NALA and Rafiki to power global money movement into emerging markets, not just remittances… Access to compliant USD collection and stablecoin settlement at scale has been one of the biggest constraints for global businesses operating in these regions. Partnering with Noah allows us to offer global account usage, where companies can collect dollars anywhere in the world and pay out instantly in local currencies, all through licensed, regulated rails.”
Through this partnership, NALA continues its mission to bridge the gap between Africans worldwide and the global economy, providing a secure, low-cost, and near-instant alternative to legacy banking.