On 7 October 2021, blockchain services company Interstellar Incorporated announced its partnership with the Interswitch Group, which is a digital commerce and integrated payments company. The companies have decided to develop blockchain-based solutions and infrastructure through a long-term strategic partnership. The companies have already been working together for the last two years, conducting research on blockchain technology.
Through the partnership, the blockchain technology stack of Interstellar, STARGATE, would be combined with digital commerce and payments technology offered by Interswitch. Through collaboration, both the companies would be able to take their shared vision forward. They believe that it will be able to drive greater prosperity and financial inclusion across the African continent.
The companies are trying to bring a blockchain revolution to the continent, and they have started several initiatives for this purpose. One of these initiatives is a Payment Ecosystem that will be powered by a private blockchain network. It will include a consortium of fintech players and banks. For the past 20 years, the Interswitch Group has been a frontrunner in major digital payment innovations in Nigeria. It is also on the list of one of the fastest-growing tech companies in Africa. Interswitch currently covers around 26 countries in the African continent.
In a recent interview, the founder and CEO of Interstellar, Ernest Mbenkum, said that they believe that the strategic partnership with Interswitch will prove to be very useful for both companies. He further said that together, they would be able to deliver enterprise-grade and impact-focused blockchain services in the African region.
