Aptos Foundation, HashKey MENA, and African payments platform Daya have partnered to establish a stablecoin-powered payment corridor connecting the Middle East and Africa. The initiative aims to improve cross-border transaction efficiency by leveraging blockchain technology and regulated stablecoin infrastructure to address the high costs and delays associated with traditional international money transfers. According to World Bank data, sending $200 to Sub-Saharan Africa incurs an average fee of 7.9%, making it the most expensive region globally for remittances—a challenge the new payment framework seeks to address through stablecoin and blockchain-based settlement.
Aptos-HashKey-Daya Corridor Implements Pilot Payment Workflow
The collaboration operates through a Corridor Pilot Agreement serving as a trial phase for the payment route. The model streamlines fund transfers between businesses in the United Arab Emirates and African markets through a three-stage process.
Under the workflow, a company in the UAE converts local currency into stablecoins through HashKey MENA. These digital assets transfer across the Aptos blockchain for transaction settlement. Daya then converts the stablecoins into local African currencies and delivers them to recipients.
HashKey MENA, a Dubai-based virtual asset service provider regulated by the UAE's Virtual Assets Regulatory Authority, manages conversion between traditional currencies and stablecoins. Daya facilitates payment distribution throughout Africa and handles settlement in local currencies. Aptos Foundation provides the blockchain infrastructure supporting the transaction settlement process.
The structure is designed to reduce transaction costs, accelerate settlement times, and improve payment traceability while maintaining regulatory compliance.
Aptos Stablecoin Circulation Exceeds $1.9 Billion
The payment corridor launch coincides with significant stablecoin growth across the Aptos ecosystem. The value of stablecoins operating on the network has exceeded $1.9 billion, marking a record high.
According to figures released by Aptos, stablecoin market capitalization on the network increased from approximately $649 million to more than $1.2 billion during the first half of 2025 before rising beyond $1.9 billion in 2026. This growth reflects increasing demand for blockchain-based financial services and highlights Aptos's expanding role as a platform for digital asset transfers and payment infrastructure.
HashKey Asia Connect Network Expands to Africa
The African corridor represents the latest expansion of HashKey's Asia Connect network operating on the Aptos blockchain. The network launched its first payment corridor between Hong Kong and the Philippines in June 2025.
Subsequent growth included Vietnam through collaborations with CAEX and VPBank, followed by expansion into the UAE through HashKey MENA. The African corridor marks the network's newest and most geographically extensive development to date, representing its first major expansion into Africa—one of the world's most costly regions for cross-border money transfers.
FAQ
What is the Aptos-HashKey-Daya payment corridor?
The payment corridor is a stablecoin-powered framework connecting the Middle East and Africa through a partnership between Aptos Foundation, HashKey MENA, and Daya. It operates through a Corridor Pilot Agreement where UAE businesses convert local currency to stablecoins via HashKey MENA, transfer them across the Aptos blockchain, and Daya converts them to local African currencies for recipients.
Why did Aptos Foundation launch a payment corridor to Africa?
The initiative addresses the high costs of cross-border payments to Africa. World Bank data shows sending $200 to Sub-Saharan Africa incurs an average fee of 7.9%, making it the most expensive region globally for remittances. The corridor aims to reduce transaction costs and settlement times through blockchain technology and regulated stablecoin infrastructure.
How much stablecoin circulation does Aptos currently support?
According to figures released by Aptos, stablecoin circulation on the network has exceeded $1.9 billion, marking a record high. The stablecoin market capitalization on Aptos increased from approximately $649 million to more than $1.2 billion during the first half of 2025 before rising beyond $1.9 billion in 2026.
