Cross-border payments infrastructure company Afriex has entered into a new sponsor and settlement banking partnership with Global Innovations Bank (GIB), strengthening the financial infrastructure supporting its international payment operations.
The partnership is designed to enable faster settlement, broaden banking and regulatory coverage, and provide businesses with access to Global USD Accounts as they move money across more than 35 countries. Afriex currently processes more than $600 million in annual payment volume.
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Founded initially as a consumer remittance company, Afriex has expanded into a payments infrastructure platform serving businesses and financial institutions, including remittance providers, payroll companies, e-commerce platforms, fintech companies and banks. Its B2B Payments API combines local payment networks with international banking connectivity, allowing companies to develop cross-border payment services without establishing infrastructure in each individual market.
The agreement with Global Innovations Bank forms part of Afriex’s broader strategy to build an international banking network that combines local payment capabilities with global settlement infrastructure. The company already works with banking partners including Choice Bank in Kenya and United Bank for Africa (UBA) in Nigeria.
Afriex said the new relationship will support faster settlement across its payment corridors, provide Global USD Account access, expand banking and regulatory coverage and improve operational resilience as transaction volumes increase.
The partnership is also expected to create a foundation for additional services involving treasury management, foreign exchange and global accounts that Afriex plans to introduce over the coming year.
Afriex Founder and Chief Executive Officer Tope Alabi said stronger banking relationships are essential to building reliable cross-border payment infrastructure, particularly as demand for international money movement continues to grow.
Global Innovations Bank Chief Product Officer Alex Goody said the bank’s experience in cross-border payments and its assessment of Afriex’s compliance and technology infrastructure contributed to the decision to support the company’s expansion.
The partnership became effective in the second quarter of 2026 and adds another component to Afriex’s efforts to develop a regulated financial infrastructure network for companies operating across international markets.
With banking relationships extending across the United States, Nigeria, Kenya and other strategic markets, Afriex is positioning its platform to support businesses seeking to expand cross-border payment services across emerging and international markets.