NALA, the African-led fintech focused on payments to emerging markets, is launching USD Global Accounts.
The move aims to provide users in volatile economies with a stable way to store, earn, and spend money internationally.
Why it matters
In many emerging markets, local currency devaluation erodes purchasing power. By offering USD accounts backed by stablecoins, NALA is giving users a hedge against inflation and a gateway to the global digital economy.
The Big Picture
The new feature transforms NALA from a remittance-only tool into a comprehensive global money management platform. Users can now:
- Receive Global Payments: Get paid in USD with dedicated payment details.
- Hedge Against Volatility: Store wealth in a stable currency to protect assets from local market fluctuations.
- Seamless Liquidity: Withdraw or send funds to local bank accounts or mobile money whenever needed.
- Interoperability: Pay for goods and services across all 18 markets currently supported by NALA.
The Strategy
By leveraging stablecoin architecture, NALA bypasses the high fees and slow processing times typically associated with traditional correspondent banking in emerging markets.
- The Scope: The product is rolling out to all 18 countries in NALA’s current footprint.
- The Pivot: NALA is shifting from a “sender-only” model to enabling recipients to also send money across borders, creating a two-way financial corridor.
What to watch
The fintech is currently opening early access to the product. Benjamin Fernandes, founder of NALA, has signaled that further technical deep dives into the “how” and “why” behind their stablecoin integration will be released in the coming weeks.
Go deeper: You can join the waitlist for early access here.
