Hamilton Labs, an Egyptian infrastructure company, has secured an undisclosed amount of funding from AXIAN Investment to scale its stablecoin infrastructure across the African continent.
When Mo Kasstawi Co-Founded the Egyptian financial infrastructure company, he wasn’t setting out to launch just another crypto startup. He was responding to a reality familiar across the continent: access to stable dollars is still treated as a privilege rather than a basic financial need.
Now Hamilton Labs has secured fresh backing from AXIAN Investment, the venture arm of the pan-African AXIAN Group, to expand its stablecoin infrastructure across Africa. The amount remains undisclosed, but the message is clear. One of the continent’s largest investment groups is betting that dollar-backed digital assets could become a core pillar of Africa’s financial future.
AXIAN Group is a major Pan-African infrastructure and services firm operating across 19 countries and 5 core sectors that include:
Telecoms
Energy
Finance
Real Estate
Fintech
With over 9,200 employees, the group generated a $2.75 billion global revenue in 2024. AXIAN Telecom is notably the 6th largest mobile operator on the continent, serving more than 44 million customers. The company has invested over $1 billion into its operations as of this writing.
At the heart of Hamilton’s strategy is USDh, a dollar-pegged stablecoin backed by US government bonds. On paper, it sounds technical. In practice, it’s much simpler: users can hold a digital dollar that not only preserves value but also generates returns.
That distinction matters.
Traditional stablecoins like USDT and USDC have gained traction by offering a way to hold dollars digitally. But Hamilton believes that alone is no longer sufficient. The company aims to turn the digital dollar into an active financial tool, one that allows users not just to protect their savings, but to grow them.
USDh achieves this by embedding the returns from the underlying government bonds directly into the asset. A user in Accra, Kigali, or Johannesburg can hold USDh and earn yield passively, even without access to a bank account, a dollar account, or global investment platforms.
But as Mo Kasstawi understands, technology alone rarely drives change. Infrastructure does.
That’s why Hamilton isn’t just launching a stablecoin. It’s building the rails behind it.
Through a single API, the company enables fintechs, digital wallets, exchanges, and OTC desks to integrate USDh directly into their offerings. Startups can roll out dollar wallets, cross-border payments, or yield-bearing savings products without spending years building the underlying systems.
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Hamilton has yet to disclose its partners, but its approach is clear: meet demand where it already exists. Across Africa, people are already using informal channels to store value in dollars – cash savings, foreign accounts, and peer-to-peer crypto transfers. Hamilton’s goal is to formalise that demand within trusted, compliant financial products.
That compliance layer is critical.
Africa’s experience with crypto has often been shaped by regulatory uncertainty, skepticism, and the fallout from overhyped ventures. Hamilton is positioning itself differently. Its focus is not speculation, but utility – building infrastructure that fintechs can realistically deploy at scale.
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For AXIAN, this marks its second investment in stablecoin infrastructure. The firm sees stablecoins not as a niche innovation, but as a natural evolution of mobile money — the next layer in Africa’s financial stack.
That thesis is compelling. Mobile money has transformed the continent by digitising local currencies. Stablecoins could do the same for dollars.
However, it is not just creating another digital asset but also about what happens when people who have long been excluded from stable financial systems finally gain access to one.
While this vision is driven and starts in Africa, it doesn’t end there. The company is already looking toward the Middle East, Latin America, and Southeast Asia – regions where similar challenges like
inflation,
currency instability, and
limited banking access
have created similar demand for reliable dollars.
For Mo Kasstawi, Africa is just the beginning.
The broader ambition is far bigger: a global dollar network designed for the millions that works in their favor.
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Stay tuned to BitKE for stablecoin developments across Africa.
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