distribution · May 14, 2026
Diamond Trust Bank Uganda Partners with TerraPay to Streamline Cross-Border Money Transfers
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Diamond Trust Bank Uganda (DTBU) entered a partnership with TerraPay on May 12, 2026, to enhance cross-border transfer processes and promote financial inclusion. The agreement allows DTBU customers to receive direct account deposits from over 140 recipient countries using TerraPay's global network, bypassing intermediary banks. This integration supports real-time notifications and multi-currency settlements, reducing transfer fees from an average of 7% to under 3% for remittances into Uganda, which totaled $1.4 billion in 2025. TerraPay's platform now connects to 3.5 billion bank accounts worldwide through this collaboration. Willie Kanyeki, TerraPay's VP of East and South Africa, noted the partnership simplifies global money movement for 2.5 million unbanked Ugandans.