Alliance-backed fintech Daya raises $2.4 million to build stablecoin payment rails

In a bustling Lagos office, Tomiwa "Aleph" Lasebikan, co-founder of Daya, sat with his team, eyes fixed on the task at hand: building a stablecoin-powered payment infrastructure for African businesses. Seven months after emerging from the Alliance DAO ALL15 cohort, Daya has secured a $2.4 million pre-seed round, led by Hivemind Capital, a New York-based digital asset investment firm. This funding is evidence of the startup's potential in revolutionizing cross-border payments, a space where traditional correspondent banking systems often falter.

Stablecoins, digital assets pegged to the value of a fiat currency, have been gaining traction in the African fintech scene. Daya's platform allows businesses to receive payments through dollar-denominated accounts provided by banking partners, settle those funds in stablecoins, and either hold them, make international payments, or convert them into local currency. This approach reduces the friction associated with correspondent banking, which can cause delays and increase costs. As Chainalysis notes, stablecoins settled about $28 trillion in transaction value globally in 2025, with much of that activity tied to economic use cases such as payments and remittances.

Daya is part of a growing group of Africa-focused fintechs, including Yellow Card and Juicyway, betting on the potential of stablecoins to become a mainstream rail for cross-border business payments. This shift in financial services is driven by investor conviction in African stablecoin-based fintechs like Daya. The funding also shows that investors are willing to back startups that can leverage blockchain technology to reduce the costs and complexities associated with traditional correspondent banking systems.

Daya's connection to Alliance DAO, a New York-based crypto accelerator, is significant. The startup emerged from the Alliance DAO ALL15 cohort, a program that provides support to early-stage blockchain and cryptocurrency projects. Alliance DAO's participation in the pre-seed round is evidence of the accelerator's confidence in Daya's potential to disrupt the cross-border payments space.

The $2.4 million funding will enable Daya to expand its cross-border payments network and deepen its stablecoin-based financial services. As the startup continues to build and ship for its users, it's clear that the future of cross-border payments is looking bright. With stablecoins moving beyond their origins in cryptocurrency trading and finding adoption in business payments, treasury management, and international commerce, Daya is poised to play a significant role in shaping this new era.

• Daya has raised a $2.4 million pre-seed round to expand its cross-border payments network and deepen its stablecoin-based financial services.
• The round was led by Hivemind Capital, a New York-based digital asset investment firm.
• Daya emerged from the Alliance DAO ALL15 cohort and is part of a growing group of Africa-focused fintechs betting on the potential of stablecoins to become a mainstream rail for cross-border business payments.

As I reflect on the potential of stablecoins in Africa, I'm reminded of the power of innovation in disrupting traditional systems. Daya's success is evidence of the entrepreneurial spirit of Africans and the importance of investing in fintech startups that can drive economic growth and development on the continent. With this funding, Daya is poised to revolutionize cross-border payments, making it easier for African businesses to operate globally.