Cairo - Sharikat Mubasher: Hamilton Labs announced securing an investment from AXIAN Investment, the venture capital arm of AXIAN Group, to support the expansion of its permissionless stablecoin USDh, with the value of the investment not disclosed.
As per a recent press release, the funding will be used to accelerate the deployment of USDh through integrations with fintech platforms, enabling African consumers and businesses to access dollar-denominated savings tools. The stablecoin is pegged one-to-one with the U.S. dollar and is designed to connect emerging market users with sovereign yield opportunities available in global debt markets.
Mo Kasstawi, co-founder and CEO of Hamilton Labs, indicated that access to stable currencies and reliable savings instruments remains limited for many individuals across Africa. He noted that programmable digital dollars such as USDh could help expand participation in global financial infrastructure and allow users to protect and grow their savings regardless of geographic location.
The investment represents AXIAN Investment’s second commitment to stablecoin infrastructure, highlighting its continued focus on digital financial rails in emerging markets. Hassane Muhieddine, CEO of the financial services cluster at AXIAN Group, said the firm views digital asset currencies as an important tool for strengthening financial inclusion across Africa.
AXIAN Investment has previously backed 33 startups and participated in 38 investment funds as part of its broader strategy to promote entrepreneurship and innovation across the African continent.
