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HashKey MENA has partnered with the Aptos Foundation and Daya to explore regulated stablecoin payments between the Middle East and Africa through a pilot B2B settlement corridor, according to a Monday statement.
The pilot is expected to establish the infrastructure for a larger B2B trade settlement model using stablecoins as a potential primary settlement asset.
The initiative will use Aptos as the blockchain settlement network and support on- and off-ramps for Nigerian naira and other African currencies, while retaining access to traditional SWIFT and bank wire infrastructure, the company says.
Under the partnership, HashKey MENA will provide AED/USD and multi-currency fiat-to-stablecoin connectivity as part of the corridor.
Daya will provide the African payment infrastructure, including local-currency on- and off-ramps, a smart routing engine, virtual local-currency accounts and payment APIs for businesses and fintechs, as noted in the statement. The Aptos Foundation will support the initiative as an ecosystem partner and will help fund execution across the network.
The rollout is planned in two phases. In the initial phase, multinational corporations will be able to fund cross-border local payments by converting local currency into digital assets at one end of the corridor and converting them back into local currency at the other.
The partnership extends HashKey’s Asia Connect network into Africa after the network launched its first Hong Kong-Philippines stablecoin corridor in June 2025. It has since expanded across Southeast Asia and into the Middle East, with the network designed to facilitate cross-border transfers and conversions between stablecoins and local currencies.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
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