SA’s WalaPay Raises USD 4.6 M Seed Funding For Stablecoin Payments

South African fintech startup WalaPay has raised USD 4.6 M in a seed funding round led by 4DX Ventures and JAM Fund, with participation from angel investors, including executives from Coinbase and Solana. The funding will support its expansion into new markets and further development of its stablecoin payments infrastructure.

Founded by Tricia Martinez, WalaPay provides infrastructure that enables businesses to send and receive cross-border payments using dollar-pegged stablecoins. The company says it has processed more than USD 2.5 B in transaction volume across Latin America, Africa, and Asia since its inception.

WalaPay converts traditional currencies into stablecoins to facilitate international settlements, aiming to reduce the cost and time associated with conventional cross-border payments, particularly in emerging markets.