In Brief

• Stablecoin payouts via ChainPal enable near-instant conversion to mobile money and bank accounts, cutting remittance fees and settlement times.

• ChainPal’s AI matching engine plus enterprise security and KYC create compliant, low-cost payout rails for freelancers, builders, and SMEs.

• ChainPal offers professional invoices and automated payouts, reducing fees and enhancing efficiency.

Stablecoin payouts have become a must-have aspect in Africa, with the continent holding over 10% of the world’s freelancers and online workers. From this growing demand, ChainPal steps in as an AI-powered gateway offering SMEs, freelancers, builders and an ever-increasing demand for stable income, an easier alternative to convert stablecoins and crypto into local currency.

Recognized by AyaHQ and Lisk, these blockchain startups have proven their worth through their sleek design and approach to bridging the gap between digital assets and fiat currencies.

ChainPal Instant Stablecoin Payouts to Mobile Money and Bank Accounts Globally and Locally

ChainPal officially launched on August 1, introducing Africa into its next iteration of payments. Stablecoins have become a favourite among Africa’s tech-savvy youth and businesses, offering stability and a way to hedge against volatile local currencies. However, a problem quickly arises: access and conversion.

Africa is a breeding ground for quality talent and expertise, forcing many SMEs, freelancers and builders to seek international recognition. This fosters a growing number who depend on international payments for sustenance. Stablecoin payouts and reliance on cryptocurrency have narrowed the gap, preventing absurd transaction costs from traditional banking, but there’s still the matter of local currencies.

ChainPal steps up to provide an alternative designed for businesses and individuals whose livelihoods revolve around cross-border transactions. The platform combines AI-powered smart systems with blockchain-based stablecoin infrastructure, simplifying how money moves across borders.

Michael Jimoh, CEO of ChainPal, elaborated :

“We built ChainPal to eliminate the payment bottlenecks that businesses in Africa and other developing regions face every day. The future of finance is inclusive, instant, and decentralized. ChainPal makes that future a reality.”

Digital commerce, decentralized finance, and developers showcasing their skills within and outside the continent often rely on crypto and stablecoin payouts. ChainPal makes it more efficient, autonomous and instant.

CHECK OUT: Quidax Report: How OTC and Stablecoins Are Changing African Payments.

This is of renowned legacy, but dominating payment platforms like Mpesa, with a broader scale, better systems and better security. For ChainPal stablecoins to mobile money is practical, avoiding the high conversion and transfer cuts common within cross-border and fiat transfers.

The Tangible Benefits: From USDT to Local Currency in Minutes

As an AI payment gateway, users can receive stablecoin payments anywhere instantly, converting them into fiat. What makes ChainPal stand out is its user-friendly approach, enabling direct withdrawals to mobile money wallets and bank accounts.

CHECK OUT: We Built the Tooling We Wished Existed: The Infrastructure Powering Africa’s Stablecoin Boom

Registration and onboarding are simple, requiring essential information depending on which category. For businesses, basic requirements like name, email, and verification documents are standard, ensuring regulatory compliance without tedious paperwork. Likewise, freelancers or individual users will provide necessary verification, ensuring KYC standards are met.

With a ChainPal account, perks such as professional invoices streamline payment processes, enabling instant payments using stablecoins like USDT, USDC or other supported cryptocurrencies. No intermediaries are present with the platform having its native wallet; however, the platform does offer automated payouts to local bank accounts. This lowers fees exponentially and enables faster settlements with easy stablecoin to mobile money conversions.

ChainPal wouldn’t be a go-to option without providing adequate security measures. To protect its AI payment gateway, the platform is built with enterprise-grade encryption and secure identity verification processes. It’s also up to date with AML and KYC standards, easily passing most regulators’ checklists when it comes to DeFi platforms.

As for design, ChainPal incorporates an intuitive design built to provide up-to-date analytics on payment transaction history and client behaviour. For merchants and businesses, these an invaluable insights determining the financial trajectory of any organization.

A Vision for an Inclusive Financial Future

ChainPal officially went live on August 1, following a Twitter Space AMA showcasing released product demos and began onboarding a growing list of early partners, including Web3 communities, fintech collectives, payments platforms and international digital agencies.

The key aim is to house local and global stablecoin payouts with a vision of onboarding 1000 businesses, partnering with local mobile operators, and incorporating a wide range of fiat currencies. Its current aim is to expand into 8 African countries by 2026.

Given its unique approach to automating stablecoin payments and tapping into Africa’s growing Web3 community, what might be a vision might soon become a reality. In the very least, ChainPal actively solves a growing issue in Africa, and its prowess earned it various accolades and recognition, with its being one of eight startups within AyaHQx Lisk Africa Incubation program.

With Africa’s Web3 community and adoption growing rapidly, ChainPal is one of the architects in building a better future, bridging the gap between digital assets and everyday life.