AfriFlux Growth Index · Stablecoin venues
Who’s growing, and how steadily.
Every stablecoin venue we track (exchanges, offramps, neobanks and more), ranked monthly on the growth of its onchain stablecoin book: how fast it grows (Momentum) and how steady that growth is (Consistency), weighted 60/40.
● Standing: September 2026Always a full month behind — no partial months. October 2026’s rating publishes next month.
Venues rated
22
live, public layer
Index leader
Spenda
A · 79 / 100
Biggest mover
Roqqu
▲ +7.2 · momentum
Biggest drop
Grey Finance
▼ -10.0 · momentum
The standing
Ranked on growth, not size: a small venue growing steadily can outrank a large, flat one.
the standing · end of Sep 2026 · 22 venues
#
Venue
Trend
1
Spenda
offramps·Full
A
79
M
68
C
96
A79▼ -1.8consistency
2
Monica
offramps·Partial
BBB
67
M
55
C
86
BBB67▲ +5.5momentum
3
Flutterwave
business payments·Partial
BBB
66
M
92
C
27
BBB66▲ +5.0momentum
4
Roqqu
exchanges·Full
BBB
65
M
41
C
100
BBB65▲ +7.2momentum
5
Timon
neobanks·Full
BBB
65
M
59
C
73
BBB65→ 0.0momentum
6
Obiex
exchanges·Partial
BBB
64
M
46
C
91
BBB64▲ +5.4momentum
7
Breet
offramps·Full
BBB
63
M
77
C
41
BBB63▼ -1.8consistency
8
Raenest
neobanks·Full
BBB
62
M
91
C
18
BBB62▼ -1.8consistency
9
Jeroid
offramps·Partial
BBB
62
M
50
C
79
BBB62▲ +2.6consistency
10
SFx
neobanks·Full
BBB
60
M
82
C
27
BBB60→ 0.0momentum
11
Quidax
exchanges·Partial
BB
58
M
64
C
50
BB58▼ -5.4momentum
12
Daya Pro
exchanges·Full
BB
57
M
80
C
23
BB57→ -0.7consistency
13
Bayse Markets
prediction markets·Full
BB
54
M
86
C
5
BB54→ 0.0momentum
14
Payrit
neobanks·Full
B
49
M
73
C
14
B49▲ +5.5momentum
15
Busha
exchanges·Partial
B
44
M
27
C
68
B44▲ +2.7momentum
16
Grey Finance
neobanks·Full
CCC
37
M
32
C
46
CCC37▼ -10.0momentum
17
Onboard Global
neobanks·Full
CCC
37
M
23
C
59
CCC37→ +0.9momentum
18
Paj Cash
offramps·Full
CCC
36
M
9
C
77
CCC36▼ -4.5momentum
19
Accrue
neobanks·Full
CCC
35
M
36
C
32
CCC35❄ frozen
20
Chipper Cash
neobanks·Full
CCC
30
M
14
C
55
CCC30▲ +2.7momentum
21
Azza
offramps·Full
CCC
28
M
5
C
64
CCC28▲ +1.8consistency
22
Evolution
neobanks·Full
CCC
26
M
18
C
36
CCC26▼ -3.6momentum
Grade bands
AAA90–100
AA80–89
A70–79· 1
BBB60–69· 9
BB50–59· 3
B40–49· 2
CCC25–39· 7
D0–24
The AfriFlux Growth Index measures observable onchain growth. It is not a credit rating or a claim about a company’s solvency, financial condition, management, intent, or overall business quality. Momentum = how fast · Consistency = how steadily · Confidence = how much history supports the score.