Afriex, the cross-border payments infrastructure company processing more than $600 million in annual payment volume, has entered into a new sponsor and settlement banking partnership with Global Innovations Bank (GIB), strengthening the financial infrastructure supporting businesses moving money across international markets.
The partnership will support Afriex’s B2B Payments API by enabling faster settlement, broader regulatory coverage and access to Global USD Accounts for businesses making payments across more than 35 countries.
Founded initially as a consumer remittance company, Afriex has evolved into a global payments infrastructure platform supporting cross-border payouts for remittance providers, payroll companies, e-commerce platforms, fintechs, banks and other financial institutions.
Its API combines licensed local payment rails with global banking connectivity, allowing businesses to launch and scale international payment products without having to build payment infrastructure in each market.
The GIB partnership forms part of Afriex’s broader strategy to build a global banking network that combines local market expertise with international settlement capabilities. Its banking relationships already include Choice Bank in Kenya and United Bank for Africa (UBA) in Nigeria.
Afriex said stronger banking relationships are becoming increasingly important as demand rises for reliable, compliant and scalable cross-border payment 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 CEO of Afriex.
Under the agreement, GIB will provide sponsor and settlement banking services designed to support Afriex’s growing payments infrastructure.
The services will include faster settlement across supported corridors, Global USD Account access, expanded banking and regulatory coverage, and greater operational resilience as transaction volumes increase.
The partnership also creates a foundation for Afriex to introduce additional treasury, foreign exchange and global account capabilities over the coming year.
Alex Goody, Chief Product Officer at Global Innovations Bank, said the bank’s experience in cross-border payments gives it a strong understanding of the challenges faced by fintech companies operating across multiple markets.
“Our team has spent years solving the challenges of cross-border money movement,” Goody said, describing Afriex’s compliance programme and technical infrastructure as key strengths.
The partnership became effective in the second quarter of 2026 and adds to Afriex’s growing banking network across the United States, Nigeria, Kenya and other strategic markets as it positions itself as a financial infrastructure layer for companies building cross-border payment products.
Source:Afriex