ViFi Labs, a decentralised stablecoin and foreign exchange protocol, has acquired OneRamp, a Ugandan-based crypto payments platform, to expand its reach to the growing institutional stablecoin market in Africa and Latin America (LATAM).
The acquisition positions ViFi to lay the groundwork for broader adoption in African regions where stablecoins are increasingly used for commerce, savings, and remittances.
OneRamp, founded by Ugandan entrepreneurs Elias Hezron Opio and Jovan Mwesigwa, has built a reputation for simplifying stablecoin transactions by enabling direct payments to mobile money platforms and bank accounts.
Currently operational in Kenya, Nigeria, Uganda, and Tanzania, the platform serves over 25,000 users with an annualised revenue run rate of $1.2 million.
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The acquisition underscores the fintech platform’s ambition to become a leading infrastructure provider for on-chain foreign exchange in emerging markets.
“OneRamp is a source of customer acquisition wherever markets are being made,” said Varoun Hanooman, co-founder of ViFi Labs. “Our goal is to be the best place for market-making in the future, while OneRamp ensures seamless distribution through a single interface.”
For OneRamp, the deal provides the resources needed to scale its operations without losing focus on local usability.
“We’ve always believed crypto should work for people, not the other way around,” said Elias Hezron. “Partnering with ViFi gives us the tools to expand while keeping our solutions practical for everyday users.”
Stablecoins continue to gain ground in Africa and LATAM, particularly in economies struggling with inflation and currency instability.
So, the new acquisition aligns with the growing demand for compliant, scalable solutions that can replace informal peer-to-peer crypto networks.
ViFi co-founder Tony Olendo said, “Stablecoin payments in Africa aren’t a future bet—they’re already happening. What’s missing is the infrastructure to support them at scale.”
Beyond geographic growth, the acquisition strengthens OneRamp’s integration into larger crypto ecosystems. The platform is set to become a key payment provider for Africa within Coinbase’s Base App, enhancing mobile money and banking interoperability across the continent.
“Base puts us where future demand will live—across apps, wallets, and networks that speak the same technical language,” said Jovan Mwesigwa.
ViFi & OneRamp partnership
While OneRamp remains platform-agnostic, its alignment with Base opens new opportunities for liquidity and cross-border transactions.
ViFi Labs aims to formalise the estimated $540 billion institutional stablecoin market by creating secure, transparent on-chain trading venues.
This acquisition signals a shift in African fintech, where locally developed solutions are increasingly integrated into global financial systems.
Rather than focusing on speculation, the two startups’ partnership prioritises utility—transforming how people in emerging markets access and use digital currencies.