Paga Partners With TBook to Bring Tokenised Real-World Assets (RWA) to Africa

Key Takeaways:

• Paga has partnered with TBook to offer tokenised real-world assets (RWAs) through its payments infrastructure.
• The partnership allows businesses that use Paga Engine to embed tokenised investment products within their own apps.
• The move represents Paga’s latest step in building a blockchain-native financial infrastructure stack spanning payments, stablecoins, savings, and investments—not just crypto payments. 

Paga is expanding its wealth-products offerings to include tokenised real-world assets (RWAs). This expansion is facilitated via a partnership with blockchain infrastructure startup TBook. 

Paga Expands Into Tokenised Investments

The partnership links Paga’s payment and compliance infrastructure with TBook’s marketplace for tokenised assets, which runs on the Sui blockchain.

Through it, Paga customers and the businesses that use Paga Engine will gain access to a range of investment products, from fixed-income instruments to tokenised private assets.

This partnership isn’t aimed solely at crypto-native users. Paga Group reportedly processed over $11 billion in transaction value in 2025 across 169 million transactions. Paga Engine serves more than 300 businesses.

Those businesses can now integrate and offer tokenised investment products directly into their own apps, turning Paga into a distribution layer for wealth products rather than just a payments rail.

Group CEO Tayo Oviosu framed the move as giving everyday Africans access to investment opportunities that have traditionally required far more capital or institutional access than most retail investors have.

I desire to see Africans participate fully in global commerce and grow their wealth.

This partnership gives everyday Africans access to investment-grade opportunities that have historically been out of reach. Businesses building on Paga Engine can offer these investment products in their own apps, significantly extending their reach. We are not just moving money faster; we are opening the door to global finance for Africans.

What Are Tokenised Real-World Assets?

Tokenised real-world assets are traditional financial instruments such as government bonds, real estate, private credit, and treasury products, represented as digital tokens on a blockchain.

Instead of needing to buy a whole property or meet a high minimum investment for a bond fund, an investor can hold a fraction of one through a token.

Blockchain rails make these assets easier to issue, trade, and settle than legacy systems. This improved accessibility is part of why a wave of fintechs and infrastructure buyers have rushed into the space over the past two years.

Paga Isn’t Becoming a Crypto Company—It’s Becoming Financial Infrastructure

Over the past two months, Paga has methodically built out a full blockchain finance stack, one partnership at a time.

In May, it partnered with Sui to enable crypto payments and yield on a dollar-pegged stablecoin.

In June, it added Crossmint for multi-chain stablecoin settlement across borders. Now, with TBook, it’s adding tokenised investments.

A clear pattern of progression arises: payments, settlements, yield, and wealth management. That’s the same arc several global fintech leaders have followed as they matured from transaction processors into broader financial platforms.

Why Every Fintech Wants Tokenised Assets

Payment margins have been compressing for years as transfers become commoditised, and competition intensifies across African markets.

Tokenised assets offer a new revenue lane. It opens up access to investment products, yield generation, treasury services, and embedded wealth management. All of these can be layered onto an existing user base without building an entirely new product from scratch.

For fintechs sitting on large pools of idle customer balances, tokenised RWAs offer a way to put that money to work and capture a share of the returns, rather than letting it sit unproductively.

From Moving Money to Moving Wealth

Stablecoins and tokenised assets are two halves of the same infrastructure story.

Stablecoins make payments and remittances more accessible. They solve the problem of moving money efficiently. Tokenised assets make investments more accessible. Put together, they form programmable financial rails that can carry both transactions and wealth.

This trend isn’t unique to Paga. Ripple’s partnership with Flutterwave, Yellow Card‘s infrastructure expansion, and Roqqu’s rollout of tokenised stocks all point in the same direction.

African fintechs are building toward a single set of blockchain-based rails that handle payments, settlement, and investing together.

TBook itself has pursued a similar playbook elsewhere, having struck a comparable distribution partnership with Philippine fintech OmniPay late last year.

TBook’s growth strategy seems to lean on plugging into existing fintech user bases rather than building consumer-facing products of its own.

What This Means for African Fintechs

If this model takes hold, embedded investing could become the norm rather than a specialised product. Instead of building standalone investment apps, fintechs may simply plug in APIs from providers like TBook to offer tokenised products inside an existing wallet or payments app.

That also raises the importance of the infrastructure layer itself.

Companies that provide custody, settlement, compliance, and the APIs connecting regulated issuers to consumer apps could become central to the ecosystem. If more fintechs bundle payments, savings, investments, and yield into one app, traditional banks may face sharper competition for both deposits and investment flows.

Why This Matters

Africa’s leading fintechs are no longer focused purely on digitising payments. They are assembling a full-stack financial infrastructure. 

That said, tokenisation doesn’t remove the underlying risk of the assets themselves. A tokenised piece of real estate, for instance, still depends on clear legal ownership, independent custody, accurate valuation, and regulatory oversight in whichever jurisdiction the property sits.

Tokenised RWAs globally have grown into a multibillion-dollar market. Still, adoption in Africa specifically is still in its early stages. The real test for Paga and TBook will be whether African consumers and regulators embrace these products at scale.

If they do, the payoff could be lower barriers to global investment assets for everyday Africans, and a new revenue stream for the businesses building the rails underneath them.