Afriex Strengthens Global Payments Infrastructure with Global Innovations Bank Partnership

New sponsor and settlement banking relationship expands Afriex's global banking network, strengthens regulatory coverage, and accelerates settlement as the company processes more than $600 million in annual payment volume

WILMINGTON, Del., Aug. 17, 2026 /PRNewswire/ -- Afriex (https://afriex.com) the cross-border payments infrastructure company processing more than $600 million in annual payment volume, today announced a new sponsor and settlement banking partnership with Global Innovations Bank (GIB). The relationship strengthens the banking infrastructure behind Afriex's B2B PaymentsAPI, enabling faster settlement, expanded regulatory support, and Global USD Account access for businesses moving money across more than 35 countries.

Originally founded as a consumer remittance company, Afriex has evolved into a global payments infrastructure platform powering cross-border payouts for remittance providers, payroll companies, ecommerce platforms, fintechs, banks, and other financial institutions. The company's API combines licensed local payment rails with global banking connectivity, enabling businesses to launch and scale international payment products without building local infrastructure themselves.

The GIB relationship is the latest milestone in Afriex's strategy of building a global banking network that combines local market expertise with international settlement capabilities. Together with banking partners including Choice Bank in Kenya and United Bank for Africa (UBA) in Nigeria, Afriex is creating the regulated financial infrastructure that enables businesses to move money seamlessly across emerging markets.

As demand for reliable cross-border payment infrastructure continues to grow, resilient banking relationships have become essential for delivering faster, compliant, and scalable money movement. Through its expanding network of banking partners, Afriex continues to strengthen the foundation behind its licensed payment operations while increasing the capabilities available to customers building on its platform.

"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. "Global Innovations Bank understands the complexity of cross-border payments because their team has lived it firsthand. Their experience and long-term approach make them an ideal partner as we continue building the infrastructure powering the next generation of global fintech."

Under the agreement, Global Innovations Bank will provide sponsor and settlement banking services supporting Afriex's growing payments infrastructure, delivering:

• Faster settlement across supported payment corridors
• Global USD Account access
• Expanded banking and regulatory coverage supporting licensed money movement
• Greater operational resilience as transaction volumes continue to grow

The partnership also lays the groundwork for additional treasury, foreign exchange (FX), and global account capabilities that Afriex plans to introduce over the coming year.

"Our team has spent years solving the challenges of cross-border money movement," said Alex Goody, Chief Product Officer at Global Innovations Bank. "That experience gives us a deep appreciation for what Afriex has built. Their disciplined compliance program, strong technical infrastructure, and focus on emerging markets make them exactly the kind of fintech we want to help scale."

The partnership became effective in Q2 2026 and represents another step in Afriex's strategy of becoming the financial infrastructure layer for companies building cross-border products worldwide. With banking partnerships now spanning the United States, Nigeria, Kenya, and other strategic markets, Afriex continues to expand the regulated banking network supporting its global payment platform.

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About Afriex:

Afriex is a global cross-border payments infrastructure company processing more than $600 million annually across 35+ countries. Originally launched as a consumer remittance platform, Afriex now powers international payments for remittance companies, payroll providers, ecommerce businesses, fintechs, banks, and enterprises through a single API. Backed by Y Combinator, Afriex operates licensed money transfer infrastructure across key markets and is registered with FinCEN as a Money Services Business. The company is building the banking and payments infrastructure that enables businesses to move money globally with the speed and simplicity of local payments.

About Global Innovations Bank:

Global Innovations Bank is a banking partner focused on serving fintechs and companies building modern financial services. Founded by a team with deep roots in the remittance industry, GIB combines firsthand experience in cross-border payments with banking infrastructure designed to help regulated financial companies scale securely and compliantly.

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SOURCE Afriex Inc