Remittances surpass aid importance as Africa embraces stablecoins

Stablecoins are revolutionizing transfers in Africa, notably in countries like Egypt and Nigeria, where traditional methods are costly and slow. With increased inflation post-COVID-19, stablecoins are not only enhancing transaction efficiency but also providing access to financial services for the unbanked population.

With remittances valued more than aid, the shift towards stablecoins signifies a broader trend towards financial inclusion in Africa. Approximately 650 million individuals without bank accounts can now utilize stablecoins via smartphones, helping them store value securely and combat inflation.