SUI integrates with Daya to enable gasless stablecoin transfers in Africa
Summary
Daya has announced its integration of Sui as the settlement infrastructure for its financial services, enabling gasless stablecoin transfers for African businesses engaged in cross-border payments and treasury management. This partnership allows Daya to settle transfers across its platforms, including Daya Business, Daya Pro, and Daya APIs, effectively enhancing the payment experience for small and medium enterprises (SMEs) in Africa. Currently operational in Nigeria, Daya plans to expand its services to South Africa, Ghana, and Kenya, utilizing Sui's technology to facilitate virtually fee-free transactions that do not require businesses to hold a network token, thereby removing significant barriers to blockchain payments.
Analysis
Sui: Sui is a layer-1 blockchain platform developed by Mysten Labs that supports high-performance decentralized applications and developer tooling. It serves as the settlement infrastructure in this integration, powering gasless stablecoin transfers across Daya's platforms for cross-border payments and treasury management in Africa. Daya: Daya is a fintech platform serving as the financial engine for African businesses, individuals, and developers with products focused on global payments, liquidity, foreign exchange, and APIs. It has integrated Sui to enable gasless stablecoin transfers and treasury rebalancing, with operations currently live in Nigeria and expansion planned to additional markets. Adeniyi Abiodun: Adeniyi Abiodun is Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to the Sui blockchain. He highlighted how gasless stablecoin transfers address barriers in blockchain payments and support Daya's work building financial infrastructure for African businesses. Tomiwa Lasebikan: Tomiwa "Aleph" Lasebikan is Co-founder and CEO of Daya. He emphasized the partnership's role in allowing African businesses to move stablecoins without fees or the need to handle native network tokens, improving accessibility for real-world payments. Expansion: Daya, licensed in Nigeria, is extending its gasless stablecoin network through Sui into additional African markets including South Africa, Ghana, and Kenya. Partnership: Sui now settles transfers across Daya Business, Daya Pro, and Daya APIs for payments, liquidity, remittances, and developer access. User Experience: The integration removes the need for businesses to acquire or hold a native network token, enabling virtually fee-free cross-border stablecoin payments tailored for SMEs.
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