Hamilton Labs, a blockchain startup focused on digital payments, has received strategic backing from AXIAN to scale its dollar stablecoin infrastructure across Africa. The investment will enable Hamilton Labs to expand its platform, improve transaction efficiency, and support wider adoption of digital currencies in the region.
The funding will support the launch of Hamilton’s flagship stablecoin, USDh, and its integration with fintech platforms, enabling African consumers and businesses to access dollar-denominated savings and payment tools.
USDh is a dollar-pegged stablecoin backed by USD-denominated government bonds, with the returns from those bonds embedded into the digital dollar. This allows users to hold a stable, dollar-denominated asset that also generates yield.
“For millions of people in Africa, access to stable dollars and reliable savings tools remains limited,” said Mo Kasstawi, co-founder and CEO of Hamilton. “Programmable dollars like USDh can expand access to global financial infrastructure and help people protect and grow their savings, regardless of where they live.”
This investment marks AXIAN’s second move into stablecoin infrastructure, highlighting the growing role of digital assets in Africa’s financial services.
“Stablecoins add real value in Africa by supporting financial inclusion and helping people thrive, both personally and in business,” said Benjamin Toulouze, Head of Corporate Venture Capital at AXIAN Investment. “As a key player in mobile money operations, stablecoins complement our existing offerings and prepare us for the next phase of financial services.”
Hamilton users will be able to access USDh through exchanges, fintech apps, OTC desks, or DeFi platforms, and redeem it for dollars through the same channels using a single API. The API integration allows partners to offer dollar wallets, cross-border transfers, and yield-bearing balances without building their own infrastructure.
While Hamilton has not disclosed specific partners, the company plans to work with fintechs, wallets, exchanges, and infrastructure providers serving users with high demand for dollar-based financial services.
Hamilton is entering a competitive space that includes traditional stablecoins like USDT and USDC, as well as newer yield-bearing tokens. Its differentiation lies in combining yield with fintech-ready infrastructure, enabling tokens to be directly used within financial products.
“Our approach is different,” Kasstawi said. “We’re building infrastructure for fintechs, combining yield, compliance, and distribution so they can offer dollar accounts, payments, and treasury products at scale. The gap isn’t just yield, it’s usable infrastructure.”
Beyond Africa, Hamilton is eyeing other emerging markets with similar challenges in dollar access, cross-border payments, and financial infrastructure. The company aims to build a global dollar network, starting with regions where the need is most urgent, including the Middle East, Latin America, and Southeast Asia.
“Africa is our starting point, but the problem we’re solving is global,” Kasstawi said. “Our goal is to integrate USDh into existing financial channels worldwide and expand access to reliable dollar-based solutions.”