Tulupay, a fintech infrastructure firm, has announced the prelaunch of its pan-African Financial Operating System (FOS) designed to enhance interoperability across the continent's fragmented financial ecosystem. The platform aims to connect banks, mobile money operators, digital wallets, and blockchain networks through a unified system, facilitating cross-border payments, remittances, and trade.
Founder's Vision for a Unified Financial System
Founder Felix Achibiri noted that Africa's financial landscape is hindered by disconnected payment rails and high transaction costs, particularly for cross-border transfers. He emphasized that the new system provides a single infrastructure linking traditional financial services with emerging digital platforms. “As cross-border transfers remain slow and expensive, and as more African central banks move toward CBDCs, the need for a unifying, interoperable operating system has never been more urgent,” he said.
Key Components of the Financial Operating System
The FOS integrates multiple financial services—including payments, remittances, asset trading, and investment—into one framework accessible to individuals, businesses, and institutions. Key components include:
- Tulu Switch: A payments interoperability hub enabling transactions across different financial platforms through a single application interface.
- Tulu Identity: A digital identity and compliance layer designed to streamline customer verification and regulatory processes.
- Tulu Gateway: A trade platform supporting cross-border commerce through digitization of trade documents and automated settlement.
- Tulu Wallet: Allows users to manage both fiat and digital currencies in one place.
The platform also supports asset tokenization and provides exchange infrastructure for trading digital and tokenized assets, alongside a blockchain network serving as the backbone for transactions and settlement.
Regulatory Approval and Pilot Programs
The announcement follows approval by the Securities and Exchange Commission (SEC) for Tulupay to participate in its fintech incubation programme, a step toward securing licenses for digital asset custody, tokenization, and exchange services. Achibiri stated that improving interoperability and reducing transaction costs are critical to unlocking intra-African trade, particularly under the African Continental Free Trade Area (AfCFTA). The firm is currently conducting pilot programmes with financial institutions, regulators, and other partners ahead of a full rollout.
