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Africa stands at a critical juncture to lead its own digital financial revolution by embracing local-currency stablecoins. While the continent’s banks missed the initial mobile money wave, it now has a second chance to build sovereign financial infrastructure courtesy of these fiat-pegged digital tokens. With global circulation topping $250 billion—and Nigeria alone driving nearly $50 million in daily trades—stablecoins are reshaping remittances, payrolls, and cross-border payments. Yet, their reliance on the US dollar fuels capital flight and dependency. By issuing local-currency stablecoins, African banks could slash remittance costs, capture billions in value, and strengthen monetary sovereignty. With regulators in the US and Europe moving fast, Africa’s choice is clear: lead by building its own rails or risk being left behind.
SEMAFOR