Oneremit partners with Blockradar to boost Stablecoin payments across borders

Stablecoins are helping cross-border payment companies move money faster between markets. But they also raise new questions for compliance teams.

Oneremit, a payment company based in Lagos, now asks three key questions for every stablecoin payment: Where did the money come from? Where is it going? And can the company prove both, even long after the transaction is done?

To get answers, Oneremit has teamed up with Blockradar. Blockradar provides wallet infrastructure for fintechs, exchanges, and payment providers in emerging markets.

The first question gets answered right away. Incoming stablecoin deposits are automatically checked against anti-money laundering (AML) lists and OFAC sanctions before the money is accepted. This means Oneremit can spot deposits linked to flagged or blacklisted wallets before they enter the company’s treasury.

The second question is tackled during the outgoing transfers. These payments undergo the same checks, allowing Oneremit to pause, review, or block any payment going to a risky address. This happens immediately with help from Oneremit’s compliance team.

The third question is about record-keeping. Every result from the screening, whether it passes or fails, is noted in the transaction record. This gives Oneremit a clear, time-stamped trail for audits and regulatory checks in different places like Nigeria, Canada, and the United States. If a regulator in Toronto or Abuja wants to look into a transfer months after it happened, the information is already available.

Blockradar’s infrastructure also includes non-custodial wallets, automatic deposits into a central treasury, and support for major stablecoins like USDT and USDC across various blockchains. This makes it easier to track stablecoin liquidity and ensures nothing gets lost.

“Speed only matters if you can stand behind every payment you move,” said Hammed Afenifere, CEO and co-founder of Oneremit. “Stablecoins let us settle faster than traditional banking allows. Blockradar means that speed doesn’t come at the expense of knowing exactly who is on either side of the transaction.”

This partnership is even more important as transaction volumes increase. For a payment company operating under different regulations, screening cannot depend on manual checks. It must work on every transaction in real time and leave a clear audit trail.

“Stablecoins should work in the background whether users know they’re using them or not, and so should the compliance behind them work the same way,” said Morgan Williams, co-founder and COO of Blockradar. “Oneremit is building exactly that way: screening every wallet on every transaction.”

Oneremit has processed over $200 million in outgoing cross-border transactions in less than two years. Partnerships with companies like OwlPay and Blockradar are helping to support the next stage of its payment system. For businesses using Oneremit to pay suppliers and partners, much of this process is hidden from view. What they notice is that payments arrive, while behind the scenes, the system ensures that everything is checked properly.