A Three-Way Pilot Targeting B2B Cross-Border Payments HashKey MENA, the Aptos Foundation and pan-African payments platform Daya have signed a Corridor Pilot Agreement to build a regulated B2B
HashKey MENA, the Aptos Foundation and pan-African payments platform Daya have signed a Corridor Pilot Agreement to build a regulated B2B stablecoin payment corridor connecting the Middle East with Africa. The infrastructure links the UAE and the broader MENA region with African markets, starting with Nigeria and the naira.
Each partner takes a distinct role in the transaction flow. HashKey MENA is a Dubai-based virtual asset exchange licensed by the Virtual Assets Regulatory Authority (VARA). It handles the conversion between stablecoins and fiat, providing regulated AED, USD and multi-currency on- and off-ramps, operating within VARA's licensing requirements and compliance framework. Daya contributes smart routing and local currency off-ramp infrastructure built specifically for African markets.Aptos sits underneath both as the Layer 1 settlement blockchain, chosen for its throughput and transaction cost profile.
On- and off-ramps will cover the Nigerian naira and additional African currencies, alongside traditional SWIFT and bank wire capabilities, virtual local-currency accounts, and payment APIs that businesses and fintechs can integrate directly. The retention of SWIFT and conventional bank wire options is a deliberate design choice, allowing multinational companies to transition at their own pace rather than abandon existing rails entirely.
The corridor targets a payments lane with well-documented structural problems. Sending money to Sub-Saharan Africa averages 7.9% in fees on a $200 transfer, the highest of any region, according to the World Bank. The pilot aims to address the foreign exchange friction, high transaction costs and slow settlement times that companies operating across Gulf and African markets routinely face.
The programme will be implemented in two phases. The first will allow multinationals to fund local payments by converting currencies at one end of the corridor and settling at the other. The second phase is intended to establish a broader B2B trade settlement network in which stablecoins serve as the primary settlement asset.
The move also broadens HashKey's existing network. This partnership marks the strategic expansion of HashKey's Asia Connect network into Africa, building on a trajectory of rapid growth that began in June 2025. Since launching its inaugural stablecoin corridor between Hong Kong and the Philippines, the network has integrated key nodes across Southeast Asia, including landmark collaborations with CAEX and VPBank in Vietnam, and extended into the Middle East via HashKey MENA.
Stablecoin activity on Aptos has grown considerably in the lead-up to this announcement. Stablecoin activity on Aptos has grown sharply, surpassing $1.9 billion after sitting at $649 million earlier in 2025.
Sources:HashKey MENA Official Announcement: Regulated Stablecoin Payments Corridor InitiativeCrypto Briefing: Aptos Foundation partners with Daya and HashKey MENA to build regulated stablecoin corridorYahoo Finance: Aptos powers a new stablecoin payment corridor between the Middle East and Africa
