Newly mapped: SFx
SFx is now mapped end to end — $894K in lifetime retail stablecoin volume across 1,086 wallets. It is the first venue in our coverage where Polygon dominates, carrying 85% of flow.
- $894K
- Lifetime retail volume
- 1,086
- Retail wallets
- 85%
- Runs on Polygon
- 74%
- Moves as USDC
USDC + USDT
distinct, all-time
no other venue tops 28%
consistent with Circle's rails
We've mapped SFx end to end — the Circle-backed stablecoin neobank from Sora Financial Technologies, built for the African diaspora.
$894K in lifetime retail stablecoin volume, moved by 1,086 wallets across six chains, at a $108 average deposit. Coverage runs March 2025 to July 2026.
SFx is the most Polygon-concentrated venue we track. 85% of volume ($759K) runs on Polygon — no other venue in our set tops 28%. Solana ($79K, 8.9%) and Optimism ($36K, 4.0%) trail.
And 74% of retail flow ($665K) moves as USDC against 26% USDT — consistent with SFx being built on Circle's rails. The chain choice and the token choice are the same decision, showing up twice in the data.
Method
Retail stablecoin deposits traced from verified SFx deposit addresses across six chains, Mar 2025 to Jul 2026, in USDC and USDT. Deposit-side only — excludes withdrawals, transfers between SFx-controlled addresses, and all off-chain activity. The Polygon comparison is the per-venue share of retail volume routed through Polygon across the 14 venues in coverage at the time of measurement.
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AfriFlux (2026). Newly mapped: SFx. Published 20 July 2026. https://www.afriflux.xyz/feed/newly-mapped-sfx
Reproducing a chart? Use this line: Source: AfriFlux — on-chain intelligence for Africa's stablecoin economy. afriflux.xyz