Afriex Expands Cross-Border Payments Network With Global Innovations Bank Partnership

August 18, 2026
By Mintesinot Nigussie

Afriex, a cross-border payments infrastructure company processing more than 600 million US dollars in annual payment volume, has partnered with Global Innovations Bank (GIB) to strengthen settlement and banking services for businesses operating across international markets.

The partnership will support Afriex’s B2B Payments API, providing faster settlement, expanded regulatory coverage and access to global US dollar accounts for businesses sending and receiving money across more than 35 countries.

The agreement, which took effect in the second quarter of 2026, makes GIB a sponsor and settlement banking partner for Afriex as the company expands its infrastructure for cross-border payments.

Afriex was initially established as a consumer remittance company before shifting towards payments infrastructure for businesses, including remittance providers, payroll companies, e-commerce platforms, fintech companies, banks and other financial institutions.

Its platform combines locally licensed payment rails with international banking connections, allowing businesses to offer cross-border payment services without establishing payment infrastructure in each market.

The GIB partnership adds to Afriex’s banking network, which includes Choice Bank in Kenya and United Bank for Africa in Nigeria. The company said the network is designed to combine local payment capabilities with international settlement infrastructure.

“Building global payment infrastructure isn’t just about adding more corridors—it’s about building the banking foundation that makes every transaction faster, more reliable, and easier for our customers to scale,” said Tope Alabi, founder and chief executive of Afriex.

Under the partnership, GIB will provide sponsor and settlement banking services, including support for faster settlement across payment corridors, global US dollar account access and additional banking and regulatory coverage.

The companies also plan to develop further treasury, foreign exchange and global account capabilities over the coming year.

“Our team has spent years solving the challenges of cross-border money movement,” said Alex Goody, chief product officer at GIB. “That experience gives us a deep appreciation for what Afriex has built.”

Afriex said the partnership forms part of its strategy to expand the regulated banking network supporting its payments platform, with banking relationships now spanning the US, Nigeria, Kenya and other markets.

Source: FSX Business News