Africa-Press – Uganda. ViFi Labs, a decentralized finance protocol focused on stablecoin and foreign currency trading, has acquired OneRamp, a fast-growing stablecoin payments platform founded by Ugandans Elias Hezron Opio and Jovan Mwesigwa.
The acquisition, announced on August 6, 2025, is a strategic move to accelerate ViFi Labs’ expansion across Africa and Latin America.
OneRamp has gained a foothold in emerging markets by allowing users to spend stablecoins seamlessly via local banking and mobile money systems.
The platform currently operates in Kenya, Uganda, Nigeria, and Tanzania, serving over 25,000 customers and recording an annual revenue run rate of $1.2 million.
ViFi Labs, on the other hand, is building decentralized blockchain tools that enable affordable and accessible foreign currency exchange using stablecoins.
The protocol connects local stablecoins with deep liquidity in decentralized finance (DeFi), ensuring that businesses and users can access the best exchange rates regardless of transaction size.
“This acquisition is a significant milestone for ViFi Labs as we move from infrastructure development to real-world deployment,” said Tony Olendo, cofounder of ViFi Labs.
“OneRamp gives us direct access to high-growth markets in Africa, where demand for stablecoin use is already proven. Together, we’re creating a bridge between institutional FX infrastructure and everyday stablecoin usage.”
The move comes as stablecoin adoption across Africa and Latin America continues to surge, with institutional usage now exceeding $540 billion annually.
However, limited foreign exchange infrastructure means a majority of these transactions still occur through informal peer-to-peer networks.
ViFi Labs is working to change that by building on-chain FX swap venues that allow secure, transparent, and scalable stablecoin trading.
Elias Hezron, Cofounder of OneRamp, said the partnership marks a major leap forward for the company’s growth and impact.
“Joining forces with ViFi Labs allows us to supercharge our mission of making stablecoin payments accessible, simple, and secure for users across Africa,” said Hezron.
“This partnership gives OneRamp the infrastructure depth needed to scale sustainably while staying compliant. It’s a win for our users, a win for the region, and a big step forward for the future of decentralized finance in emerging markets.”
The team also confirmed that OneRamp is expanding into the Base ecosystem, the blockchain network recently launched by Coinbase.
Their goal is to become the premier stablecoin payments provider within the Base ecosystem across Africa.
“OneRamp will stay open to all platforms,” said Jovan Mwesigwa, Cofounder of OneRamp, “but joining Base gives us an incredible opportunity to reach more users, both across Africa and globally. It puts us right where the demand is.”
With this acquisition, ViFi Labs and OneRamp are positioning themselves at the forefront of financial inclusion in emerging markets, offering users tools to make everyday payments, access competitive foreign exchange rates, and connect directly to the global financial system—all powered by stablecoins.
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