Circle Signals Entry into Kenya with Upcoming Launch of Payments Network
Circle, the issuer of the USDC stablecoin,has indicated plans to expand its operations into Kenya through the Circle Payments Network (CPN).
In its latest Q4 and FY 2025 earnings presentation, Circle listed Kenya among the upcoming launch markets for CPN, alongside countries like Ghana, Indonesia, Japan, Poland, South Korea, Turkey, the UK, and Vietnam. The network already supports live flows in regions including Nigeria (in Africa), the European Union, the United Arab Emirates, and several Americas and APAC markets.
CPN is designed as a global coordination protocol that connects banks, payment service providers (PSPs), virtual asset service providers (VASPs), and enterprises. It enables real-time, low-cost money movement using stablecoins like USDC for cross-border payments, remittances, merchant settlements, and treasury operations ,converting fiat to stablecoins and back with reduced friction compared to traditional systems.
This development follows reports that Circle is already in discussions with Kenyan regulators to introduce the payments network, aligning with the country’s evolving Virtual Assets Service Providers (VASP) framework under the upcoming regulations.
Industry observers view this as a significant step for Kenya’s fintech and crypto ecosystem. Direct integration could allow local banks (such as KCB) and platforms (like Safaricom) to offer compliant USDC-to-fiat rails, boosting adoption for remittances, e-commerce, and institutional treasury management.
Circle’s momentum is strong: USDC circulation reached $75.3 billion (up 72% YoY), with on-chain volume hitting $11.9 trillion (up 247% YoY) in Q4/FY 2025. The company reported $770 million in revenue and reserve income (up 77% YoY) and is targeting continued growth in regulated stablecoin infrastructure.
While Circle issues USDC (not USDT, which is issued by Tether), the announcement underscores growing institutional interest in dollar-pegged stablecoins across Africa. Kenya’s inclusion positions it as a key market for bridging traditional finance with blockchain-based payments.
