CrissCross

Super excited to share our partnership with Velocity! 🚀 Stablecoins have proven a powerful way to move money fast on the African continent. But right now, there are two clear issues: 1) Paying out in local currencies is still really hard. Most providers fall back on Swift for the last leg, which means funds sitting in a banking chain for days, picking up fees and FX spreads along the way. 2) Capital gets trapped. Enterprises pre-fund accounts in every market and wait on T+1 settlement just to make sure payouts land on time. At around 10% cost of capital, that money sitting idle gets expensive fast. That's why this partnership makes so much sense. Very few providers do both local pay-ins/payouts and stablecoin on/off-ramps. At CrissCross we do both: - One API - In-market banking relationships - Local liquidity across 30+ African markets Velocity's institutional stablecoin network plugs straight into that 🙌 To the Velocity team, it's been great working together so far, excited for what's ahead! If you're moving money into or across Africa (stablecoins or not), message me. Happy to explain how it all works :) Read more: https://lnkd.in/ejWvNzEd James Cope Willemijn van Lookeren Campagne Thea Sokolowski Hassanatou T. Christine Wanjiru Maina Cornelius Coetzee Simone le Roux

We're excited to announce our strategic partnership with Velocity, the stablecoin payments and treasury platform built for global CFOs and treasurers Global businesses are moving more money into, out of and across African markets than ever before. Africa is also one of the most stablecoin-fluent regions in the world. What institutions have been missing is a clean way to connect the two. Together with Velocity, we're connecting institutional stablecoin liquidity with local collections, payouts and FX across 30+ African markets. For finance teams, that means: → Moving between onchain liquidity and local currencies through a single connection → Upfront pricing on large treasury transfers → Less capital tied up in pre-funded accounts across markets Read the full announcement on our blog to learn more about the partnership and what we'll build together: https://lnkd.in/ejWvNzEd

I’m always bullish about how Stablecoins can improve cross-border payments and create an alternative to traditional bank channels. But working in the South African market for the past two years had made me realise that actually fiat bank payments still have a key role to play in certain contexts. It is operationally simpler for a lot of real economy clients to pay invoices via banks, especially in an environment of capital controls. Legacy solutions for this flow have typically been pretty slow and clunky. This is why I'm delighted to say that Crisscross and the Stitch Group have gone live with our cross-border invoice payment solution in South Africa. For South Africa based clients of the Stitch group, paying an international invoice is now genuinely simple. Deposit ZAR, we handle the FX and the regulatory reporting, funds arrive at T+0 or T+1. Here's what that looks like in practice: - One API integration for foreign payouts - T+0 or T+1 settlement - Competitive FX rates with full transparency - Compliance and reporting handled, not handed off If you’d like to talk cross-border payments in South Africa or beyond, please give me a shout. Kiaan Pillay Junaid Dadan Thea Sokolowski Cornelius Coetzee Willemijn van Lookeren Campagne Grant James

In 2019 when I was at Adyen I worked on an integration with a paybybank provider in South Africa. We went live with Facebook as our merchant— the tech worked, the UX worked. But then we hit a wall: we couldn't get the funds out of the country. South Africa has strict capital controls. Every outward payment requires navigating exchange control regulations, BOP codes and more. For any business trying to pay international vendors, it's a challenge. I've thought about that 2019 problem a lot since. And I'm genuinely thrilled to say we've built the solution! CrissCross is now a SARB-approved Treasury Outsourcing Company (TOC). And because we sit inside the Stitch Group — which is both a licensed PSP and acquirer — we're in a position nobody else is in: we can handle the full flow. Collect ZAR, convert it, settle it internationally. One group, one platform, no handoffs. So for any Stitch client, paying an international invoice is now genuinely simple. Deposit ZAR, we handle the FX and the regulatory reporting, funds arrive at T+0 or T+1. Here's what that looks like in practice: - One API integration for foreign payouts - T+0 or T+1 settlement - Competitive FX rates with full transparency - Compliance and reporting handled, not handed off This is the thing I wish had existed in 2019. Read more about how it works: https://lnkd.in/dRhTDsY9 Junaid Dadan Kiaan Pillay James Cope Cornelius Coetzee Grant James Shaun Barlow

Working in SA payments for nearly 6 years, I saw the same pattern repeat. Domestic collections run via API. Domestic payouts are programmatic. Reconciliation is clean [if they use Stitch :)]. Then they need to pay a supplier in London, and they open a PDF. I never understood this one. The same teams automating everything locally still paying international invoices filling in a form, attaching the invoice and emailing it to their bank. Then waiting and following up. Manual, slow, no visibility, on some of the biggest payments they make. That's why I'm excited about what we've built at CrissCross. We're now a SARB-approved Treasury Outsourcing Company (TOC)! With the Stitch Group, we now support cross-border invoice settlement for SA enterprise clients in USD and other G10 currencies, delivered alongside a South African Authorised Dealer. What that looks like in practice: - Foreign payouts on your existing API integration - T+0 or T+1 settlement - Competitive FX rates you see before you accept - Compliance and reporting handled, not handed off This is big news! If you're paying suppliers abroad, from SA or anywhere else, message me. I'll eloquently explain why you should use us :) Read more about how it works: https://lnkd.in/dRhTDsY9 Cornelius Coetzee James Cope Willemijn van Lookeren Campagne Kiaan Pillay Junaid Dadan Priyen Pillay Thea Sokolowski Simone le Roux

South African businesses send billions in cross-border payments every year, and many of them are still doing it the hard way. We built CrissCross FX to change that. The Stitch Group, which includes CrissCross FX, now supports cross-border invoice settlement for SA enterprise clients in USD and other G10 currencies, delivered alongside a South African Authorised Dealer. Here's what that looks like in practice: • One API integration for foreign payouts • T+0 or T+1 settlement • Competitive FX rates with full transparency • Compliance and reporting handled, not handed off No more chasing SWIFT confirmations or guessing when funds will land: just infrastructure that works the way modern businesses need it to. Read more about how it works: https://lnkd.in/dRhTDsY9/?utm_campaign=TOCAnnouncement%257CPagepost&utm_source=linkedin&utm_medium=paid&utm_id=1225641373&hsa_acc=518825334&hsa_cam=1225641373&hsa_grp=891379983&hsa_ad=1558329703&hsa_net=linkedin&hsa_ver=3