Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions
Three African countries — namely Cameroon, the Democratic Republic of Congo (DRC), and the Republic of Congo — are reportedly planning to adopt cryptocurrency and blockchain solutions powered by The Open Network (TON). Separately, Cameroon is considering issuing a national stablecoin that is based on the same blockchain network. Phased Adoption of the Solutions The Democratic Republic of Congo (DRC) is reportedly considering issuing a national stablecoin that is built on blockchain, a statement released by The Open Network (TON) has said. In addition, the DRC,....
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One of the first African countries where Stellar is hoping to make a name for itself is Nigeria. Thanks to a strategic partnership with Oradian, the plan is to bring instant and cheap money transfer solutions to close to 300,000 residents. The topic of cheaper money transfers throughout African countries has been kicked around a few times in the past. Most of the established banks are not looking to expand in the region, simply because the costs would far outweigh any possible gains. But digital currency and distributed ledger technology can become a big player in this areas, and that is....
According to a recent Mastercard payment index report, the Covid-19 related lockdowns helped spread the use of cryptocurrency in three African countries, namely Nigeria, Kenya, and South Africa. The report also reveals that a greater number of consumers from these countries are “likely to use one emerging payment method in the coming year.” More Respondents Planning to Pay With Cryptos in the Upcoming Year In fact, according to findings of a survey conducted between February 26 and March 10, 2021, a significant number of the respondents from these countries plan to use....
The African nation will reportedly join a short list of countries to adopt cryptocurrency as legal tender. The roughly five million residents of the Central African Republic, or CAR, will now reportedly be able to use Bitcoin in addition to the country's franc as legal tender. According to a Wednesday report from news outlet Agence France-Presse, Central African Republic President Faustin-Archange Touadéra has signed a bill into law establishing a regulatory framework for the use of cryptocurrency in the country as well as adopting Bitcoin (BTC) as legal tender. Obed Namsio, the....
More African countries are considering adopting Bitcoin as the local crypto market surged over 1,200% in one year. Zanzibar, a semi-autonomous territory in the United Republic of Tanzania, is reportedly exploring ways to regulate and adopt cryptocurrencies like Bitcoin (BTC).The government of Zanzibar is planning to conduct meetings with stakeholders like banks and ministries to discuss policies related to the cryptocurrency industry. Zanzibar Minister of State Mudrick Soraga announced the plans to Tanzanian news agency The Citizen on Nov. 10.The move is part of a potential plan to adopt....
As it turns out, the Central African Republic did not adopt bitcoin as legal tender. Yesterday, a Forbes Monaco article took the bitcoin world by storm. It said an African country had followed El Salvador’s footsteps and adopted BTC as a currency within its borders. The weird thing was, no other major outlets picked up […]