General News
Mastercard and Circle Bring Real-Time Stablecoin Settlement to Eastern Europe, Middle East & Africa
As stablecoins continue to solve real-world challenges and improve efficiencies across a range of use-cases, Mastercard and Circle are deepening their longstanding partnership to enable USDC and EURC settlement for acquirers in the Eastern Europe, Middle East, and Africa (EEMEA) region.
This expanded effort marks the first time that the acquiring ecosystem in EEMEA will be able to settle transactions in stablecoins, further cementing Mastercard’s role in connecting blockchain-native crypto assets with traditional fiat commerce infrastructure. Arab Financial Services and Eazy Financial Services will be the first to benefit from this expanded effort.
This move will empower acquiring institutions to get their settlement in USDC or EURC – fully-reserved stablecoins issued by regulated affiliates of Circle – which they can then use to settle with merchants and help pave the way for a new era of efficient and trusted digital trade across emerging markets. This builds upon existing efforts between Circle and Mastercard in the region on crypto card solutions, such as Bybit and S1LKPAY, which use USDC to settle transactions.
“This is a key move for Mastercard. Our strategic goal is to integrate stablecoins into the financial mainstream by investing in the infrastructure, governance, and partnerships to support this exciting payment evolution from fiat to tokenized and programmable money. Through our expanded partnership with Circle, we are taking bold steps in integrating their innovative use across our global network. We know that trust is essential to scale, and we are proud to play a leading role by applying our decades of experience in security and compliance to the stablecoin space,” said Dimitrios Dosis, president, Eastern Europe, Middle East, and Africa, Mastercard.
“Expanding USDC settlement across Mastercard’s vast network of acquirers in Eastern Europe, the Middle East, and Africa is a pivotal step toward truly borderless, real-time commerce. Our expanded partnership with Mastercard will enable wider reach, global access, and scaled impact, so that USDC can become as ubiquitous as traditional payments. Together with Mastercard, we are advancing the role of stablecoins as a foundational tool for everyday financial activity worldwide,” said Kash Razzaghi, Chief Business Officer at Circle.
“As the first acquirer in the region to pioneer USDC stablecoin settlement, we are delivering a strategic and transformative solution. This innovation provides the future-ready infrastructure our clients need to stay competitive in an era of continuous market transformation. The new capability directly solves a key market need for greater liquidity and operational efficiency, significantly reducing the friction traditionally associated with high-volume settlements. Our partnerships with Mastercard and Circle are foundational to the offering, ensuring our clients can confidently embrace digital asset innovation within a framework of security and regulatory compliance,” said Samer Soliman, CEO, AFS.
“This collaboration with Mastercard and Circle to enable USDC settlement aligns with our mission to deliver faster, more secure, and more efficient payment solutions to our clients. This milestone sets a new standard for digital settlement in the region and reflects our commitment to driving financial innovation that meets the evolving needs of merchants and consumers alike.,” said Nayef Al Alawi, Founder, MD & CEO, Eazy Financial services.
Mastercard continues to support the growth of stablecoins globally and today enables end-to-end stablecoin payments. This includes ongoing, global work with Circle to give merchants the option to receive their payments in stablecoins – regardless of how a consumer chooses to pay. Along with USDC, Mastercard supports a growing portfolio of regulated stablecoins from issuers around the world, including Paxos’ USDG, Fiserv’s FIUSD and PayPal’s PYUSD.
In addition, Mastercard is driving broader efforts to drive regulated, real-world stablecoin use cases across remittances, B2B transactions, and payouts to gig workers and creators via platforms like Mastercard Move and the Multi-Token Network (MTN). Underpinning this is Mastercard’s robust infrastructure – including Crypto Credential and Crypto Secure – which ensures stablecoin transactions meet the highest standards for security and compliance.
As stablecoins gain traction and scale across the EEMEA region, Mastercard’s approach prioritizes scalability, regulatory alignment, and tangible utility, reinforcing its position at the forefront of payments innovation.
Femi Otedola, chairman, First HoldCo, has revealed that he will invest $100 million in Dangote refinery.
Aliko Dangote and Femi Otedola
This is coming ahead of news that the Dangote refinery is planning to raise $2 billion through private placement, by selling its shares to the general public on a stock exchange for the first time.
Otedola, announced his plans on Wednesday after leading top executives of First HoldCo to visit Aliko Dangote, president of the Dangote Group, at the refinery in Lagos.
“From on a personal note, I’ve appealed to him (Aliko Dangote). I’ve been here with him 25 times, so my compensation is he’s going to allocate to me shares worth $100 million in the private placement,” the billionaire said.
“That’s one of the reasons why I sold my stake in Geregu plant to come and invest my proceeds in the IPO of Dangote refinery.”
During the meeting, Dangote said, the company is targeting a private placement of about $2 billion for the refinery
Dangote, on October 22, 2025, said the refinery could sell up to 10 percent stake in the listing, which Bloomberg valued to be about $5 billion.
The billionaire is planning to make the IPO a cross-border listing to enable the refinery draw investments from domestic and international investors.
In an earlier report, Dangote said the IPO is designed to democratise wealth creation and give Africans direct access to participate in the continent’s industrial transformation.
On May 12, Bloomberg reported that the billionaire is reportedly aiming for a valuation of up to $50 billion for Dangote refinery.
The Nigeria Immigration Service, Lagos State Command, has entered into a collaborative partnership with Lasaco Assurance Plc to drive sustainable institutional growth and operational synergy.
According to a statement from the firm, the partnership is a strategic move to bridge the gap between public service efficiency and private sector innovation.
The partnership was solidified during a courtesy visit by top officials of the NIS Lagos Command to the corporate headquarters of Lasaco Assurance Plc in Lagos.
Led by the Deputy Comptroller of Immigration and Passport Control Officer, the NIS delegation engaged the insurance firm’s executive team in high-level discussions aimed at fostering knowledge exchange, strengthening risk management practices, and advancing national development goals.
A major highlight of the strategic engagement was the presentation of an award to the Managing Director of Lasaco Assurance Plc, Ademoye Shobo.
The NIS delegation honoured the insurance boss for his exemplary leadership in driving product growth, building operational resilience, and introducing innovative risk management solutions to the industry.
While commending Lasaco’s leadership, the NIS delegation noted that the company had consistently distinguished itself through a customer-focused approach and commitment to professionalism.
They emphasised that public-private partnerships were vital to creating value-driven systems that would benefit the larger Nigerian economy.
Reacting to the honour and the partnership prospects, Shobo reiterated the insurer’s readiness to support the immigration office.
“We are deeply honoured by this visit and the recognition from the Nigeria Immigration Service. At Lasaco, we believe that the future of institutional growth lies in deliberate collaboration. We are fully committed to maintaining a strong, mutually beneficial relationship with the Immigration Office to improve operational efficiency and deepen trust across both sectors,” Shobo said.
The management of Lasaco Assurance further expressed gratitude, noting that the engagement had set a new benchmark for public-private alignment.
The management stated, “This courtesy visit is not just a ceremony; it is a reinforcement of our shared commitment to institutional excellence. By combining public sector dedication with private sector innovation, we can create stronger avenues for service delivery that ultimately advance our national goals.”
The engagement underscored the growing importance of continuous dialogue between government agencies and private corporations to solve modern operational challenges.
Moving forward, both organisations expressed confidence that the partnership would unlock new opportunities for strategic growth.
Lasaco Assurance Plc reaffirmed its long-term vision to deliver value-driven insurance solutions, sustain stakeholder confidence, and champion impactful collaborations that foster national progress.
Dr. Aminu Maida, executive vice chairman and chief executive officer (EVC/CEO), Nigerian Communications Commission (NCC), has has been confirmed as a Special Guest of Honour at this year’s Africa Beacon of ICT Lectures and Awards.
Dr. Aminu Maida, executive vice chairman and chief executive officer, NCC
Africa Beacon of ICT Lectures and Awards, is widely regarded as the most prestigious annual event available in the ICT industry in Nigeria.
The event according Ken Nwogbo, editor-in-chief of Nigeria Communications Week,“is digital transformation edition” will hold on Saturday, May 30, 2026 at the Four Points by Sheraton, Lagos.
Africa’s BoICT Lecture is designed to explore efforts to put Nigeria on the global Information and Communications Technologies map.
It will also to recognise and celebrate organisations and individuals in the ICT and banking industries that have impacted in digital transformation of the economy.
Nwogbo said that Dr. Maida, oversees the regulation, development, and strategic direction of the Nigerian telecommunications industry.
His administration at the NCC, actively drives initiatives to improve telecom consumer experience, enhance infrastructure, and foster collaborations (such as with the Central Bank of Nigeria) to protect citizens from financial fraud
He holds a PhD in Electrical & Electronic Engineering from the University of Bath, UK.
Prior to joining the NCC, he served as the Executive Director, Technology and Operations at the Nigeria Inter-Bank Settlement System Plc (NIBSS).
At NIBSS, Dr. Maida was responsible for spearheading the technical and operational standardization of all devices deployed in the financial system in Nigeria for interoperability.
He led a dynamic team that ensured that all terminals used in the e-payment industry and all devices deployed in Nigeria would accept all cards issued by banks and other licensed card schemes without discrimination.
Prior to his appointment at NIBSS, Maida was the Chief Technical Officer (CTO) at the Nigerian-based FinTech Arca Payments Network and Senior Manager at Cisco Systems, United Kingdom.
As a seasoned technical professional with over 15 years of multi-functional and international experience in FinTech & Telecoms & Enterprise Technology, Dr. Maida between 2010 and 2014, worked as a Network Design Consultant at EE, part of BT Group, and one of the largest mobile communications companies in the UK.
He was also at some point (2006-2010) a System Engineer at Ubiquisys, a leading company in intelligent 3G and LTE small cells, which is now part of Cisco.
Dr. Maida will be joining will join top dignitaries who have graced the event in the past including: Dr. Ernest Ndukwe, former executive vice-chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.
Others are: Chris Uwaje, chairman, Mobile Software Solutions Ltd; Uche Orji, former managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodun Omoniyi, Managing Director/CEO, VDT Communications; and John Obaro, CEO and founder of Systemspecs; Dr. Isa Pantanmi, former DG, NITDA; Dr. Obadare Peter Adewale, co-founder and COO, Digital Encode Limited; among others.
The highpoint of the BoICT Lecture will be the conferment of awards to companies and individuals for their significant contributions to the growth of technology in Nigeria and indeed Africa.
The event is a five-star event; easily Nigeria’s ICT Oscars.
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