INTERSWITCH partners with INTERSTELLAR to develop Blockchain-powered Infrastructure Services and Solutions – Yahoo Finance

INTERSWITCH partners with INTERSTELLAR to develop Blockchain-powered Infrastructure Services and Solutions – Yahoo Finance

Africa’s first Enterprise Blockchain Infrastructure Services organization, signs a long-term strategic partnership agreement with Africa’s first Fintech Unicorn to develop Blockchain-powered Infrastructure Services and Solutions.

Lagos, Nigeria, Oct. 04, 2021 (GLOBE NEWSWIRE) — Interstellar and Interswitch have been working together over the last two years, carrying out blockchain technology research. As part of the partnership, Interstellar’s Blockchain technology stack called STARGATE will be integrated with Interswitch’s industry-leading payments and digital commerce technology. This will advance the shared vision of the businesses to drive greater financial inclusion and prosperity across the continent.

Both companies have been preparing for the blockchain revolution in the African market with several ongoing initiatives including a Pan African Payment Ecosystem (PAPE) powered by a private permissioned blockchain network which includes a consortium of Banks and Fintech players.

Ernest Mbenkum, Founder and CEO at Interstellar, commented, “We are delighted to have established this strategic partnership with Interswitch, one of Africa’s most valuable fintech businesses. This marks the genesis of an innovative and collaborative partnership aimed at delivering impact-focused and enterprise grade blockchain-powered services across the African continent.”

Interswitch has been at the forefront of major innovation milestones in payments in Nigeria for the last 20 years, garnering recognition along the line as one of the fastest-growing technology companies in Africa (Deloitte Fast-Growth 50) and gaining acclaim as the first homegrown African Fintech Unicorn following a minority investment by Visa in late
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