Grace Ashiru
South African financial technology startup WalaPay has secured US$4.6 million in seed funding to expand its international payment services and develop infrastructure supporting transactions through digital stablecoins.
The investment round was led by 4DX Ventures and JAM Fund, with additional participation from angel investors, including executives associated with cryptocurrency companies Coinbase and Solana.
Founded by entrepreneur Tricia Martinez, WalaPay provides financial technology infrastructure that enables businesses to send and receive cross-border payments using stablecoins linked to the United States dollar.
Stablecoins are digital assets designed to maintain a relatively stable value by referencing traditional currencies or other assets.
They can be used to transfer funds through blockchain networks, offering an alternative to conventional international payment arrangements.
WalaPay’s platform converts traditional currencies into stablecoins to facilitate the movement and settlement of money between businesses operating in different countries.
The company aims to reduce the costs and delays frequently associated with international transfers, particularly in emerging markets.
Cross-border business payments can involve several financial institutions, currency conversions and processing arrangements, creating additional costs for companies trading internationally.
By using digital settlement infrastructure, WalaPay seeks to simplify some of these processes and support more efficient movement of funds.
According to the company, its platform has processed more than US$2.5 billion in transaction volume across Latin America, Africa and Asia since its establishment.
The reported activity demonstrates the scale of transactions that the startup says it has facilitated through its payment infrastructure.
The latest investment will support expansion into additional markets and continued development of the technology underlying its stablecoin payment services.
The funding also reflects investor interest in financial technology companies exploring blockchain-based alternatives to existing payment systems.
For businesses involved in international trade, improvements in transaction processing could provide opportunities to manage payments more efficiently.
However, stablecoin payment providers must also navigate financial regulations, compliance requirements and operational risks across different jurisdictions.
WalaPay has not publicly detailed the specific markets it intends to enter with the new investment or the timetable for its expansion.
The company will use the funding to strengthen its position in the international payments industry as businesses explore additional methods for transferring money across borders.
