Backed by $8 million, Checker expands into Africa with stablecoin-powered banking infrastructure

Checker is betting stablecoins can fix Africa’s costly cross-border payments problem as trade volumes rise and fintechs search for faster, cheaper settlement infrastructure.

Africa’s $1.5 trillion trade economy is attracting fintech startups betting that stablecoins can solve one of the continent’s oldest financial infrastructure problems: moving money across borders efficiently.

Trade involving African countries and businesses reached approximately $1.5 trillion in 2024, according to estimates from trade and financial industries, buoyed partly by a 12.4% increase in intra-African trade during the same period. As the African Continental Free Trade Area (AfCFTA) gradually expands cross-border trade, the need for faster, cheaper payment infrastructure has become increasingly urgent.

Historically, these trade transactions have been facilitated through commercial banks and correspondent banking relationships outside the continent. While functional, the process is often slow, expensive, and fragmented. Settlement can take days, foreign exchange liquidity is frequently limited, and businesses operating across multiple African markets still struggle with inconsistent banking infrastructure.

In recent years, fintech startups have attempted to address parts of the problem through remittance products, business banking tools, and foreign exchange solutions. Now, a growing number of companies are exploring whether stablecoins and blockchain-based infrastructure can provide a more scalable alternative for cross-border finance in emerging markets. Checker is the latest entrant, positioning itself within that category.

Founded in 2025 by Jack Chong and Justin McMahan, the startup is formally launching operations in Africa with a product designed to help financial institutions integrate stablecoin-powered financial services into their offerings.

Through a single API, Checker allows financial institutions to access tools for liquidity management, treasury operations, cross-border payments, and credit infrastructure using stablecoins and digital assets.

Rather than targeting consumers directly, the startup is positioning itself as infrastructure for banks, fintechs, payment companies, and neob...