Tulupay, a subsidiary of Fintech Inclusion Holdings, is revolutionizing pan-African payments and financial services. With active operations in Estonia and a presence in Nigeria, Kenya, Ghana, Rwanda, and other markets, the company has unveiled its Financial Operating System (FOS).
This unified financial ecosystem bridges Web2 and Web3 technologies to create a secure, interoperable, and advanced financial infrastructure across Africa.
A New Era for African Finance
Tulupay’s Financial Operating System is designed to serve as the backbone of Africa’s next-generation financial services. It integrates traditional banking, fiat accounts, digital wallets, mobile money, blockchain networks, stablecoins, CBDCs, and regulatory frameworks into a single API layer. This innovation redefines payments, remittances, trading, capital raising, and investments for individuals, businesses, and institutions.
The company describes FOS as Africa’s first interoperable financial operating system, developed in collaboration with partners to address the continent’s fragmented payment systems and high remittance costs.
Founder’s Vision
Felix Achibiri, Founder of Tulupay, highlighted the urgent need for this innovation:
“Africa faces challenges like fragmented payment systems, slow and costly cross-border transfers, and the lack of a unified infrastructure connecting banks, mobile money, and blockchain networks. As central banks across Africa explore CBDCs, the demand for a seamless, interoperable system has never been greater.”
He added, “Tulupay is building the technological bridge to connect Africa’s traditional and digital financial worlds. Our goal is to create a borderless financial system where money, identity, and assets move effortlessly, positioning Africa as a leader in the global digital economy. This isn’t just another fintech app; it’s the infrastructure for Africa’s $3.4 trillion AfCFTA trade potential.”
Executive Insights
Lavina Ramkissoon, Executive Vice-President, emphasized the long-term impact:
“We’re building the infrastructure that will power Africa’s future financial services.”
Key Features of Tulupay’s Financial Operating System (FOS):
1. Compliance & Identity (Tulu Compliance & Tulu Identity)
A modular KYC/AML and digital identity solution for Web2 and Web3 users. Built on W3C Verifiable Credentials and Decentralized Identifiers (DIDs), it uses Hedera Hashgraph’s secure consensus mechanism.
- For users: A self-owned, portable wallet with zero-knowledge proofs for secure data verification.
- For enterprises: Fraud reduction by 90%, onboarding costs cut by 70%, and instant verification for credentials like education, employment, financial KYC, and government IDs.
- Developed in partnership with The Hashgraph Group (THG), Tulu Identity ensures seamless onboarding, cross-border verification, and regulatory compliance.
2. Payment Rails Interoperability Hub (Tulu Switch)
A unified API layer connecting banks, digital wallets, mobile money, blockchain networks, stablecoins, and CBDCs.
- For developers: One API for sending, receiving, and settling payments across African systems, with automatic FX and real-time reconciliation.
- Regulators are integrated via a permissioned compliance framework.
3. Pan-African Trade Gateway (Tulu Gateway)
Streamlines cross-border trade by tokenizing trade documents (e.g., invoices, warehouse receipts) and enabling smart contracts under a mutual recognition framework.
- For SMEs: Instant invoice financing, customs-ready digital documents, and regulated stablecoin payments with automated FX conversion.
4. Multi-Asset Custody & Wallet (Tulu Wallet & Tulu Purse)
A unified platform for managing digital and fiat currencies.
- Tulu Wallet: Supports cryptocurrencies, stablecoins, and tokenized assets.
- Tulu Purse: Handles fiat currencies, CBDCs, mobile money, vouchers, and loyalty points.
- Users can swap between fiat and crypto instantly, while institutions benefit from institutional-grade custody and real-time reconciliation.
5. Tokenization & Exchange Infrastructure (Tulu Asset & Tulu Exchange)
A dual-layer platform for tokenizing physical and financial assets and enabling seamless trading.
- Tulu Asset: Converts assets like real estate, trade invoices, and commodities into digital tokens.
- Tulu Exchange: Combines centralized liquidity with decentralized transparency for trading tokenized assets, cryptocurrencies, stablecoins, and CBDCs.
6. Interoperable Blockchain (Tulu Chain)
A regulatory-compliant layer-1 blockchain optimized for financial use cases.
- Connects Web2 and Web3 ecosystems for cross-border settlement, token issuance, and fiat-crypto interoperability.
- Ensures auditability and compliance for regulators.
Industry Collaboration
Stefan Deiss, Co-Founder & CEO of The Hashgraph Group, praised Tulupay’s approach:
“Tulupay combines cutting-edge technology with regulatory compliance to drive institutional adoption. Leveraging Hedera’s trust infrastructure, it empowers Africa’s financial ecosystem.”
Tulupay’s announcement coincides with its approval by Nigeria’s Securities and Exchange Commission (SEC) to participate in the FinTech Incubation Program. This milestone positions Tulupay to obtain regulatory licenses for digital asset custody, tokenization, and exchange services.
Danny Clement, CEO of Blockgration Incorporated Canada, expressed confidence in Tulupay’s transformative potential.
Shaping Africa’s Financial Future
Tulupay is collaborating with financial institutions, development partners, merchants, regulators, developers, and start-ups through pre-launch pilots. Together, they aim to redefine Africa’s financial landscape and unlock its economic potential.
