Based on TechFlow, on November 18, the African Continental Free Trade Area Secretariat, in collaboration with the IOTA Foundation, launched the 'Africa Digital Access and Public Trade Infrastructure (ADAPT)' platform. The initiative aims to digitize cross-border trade using blockchain technology and stablecoins. The platform is set to fully launch by 2027, with a goal to cover 55 African countries by 2035. It is projected to generate an additional $70 billion in annual trade, reduce border clearance time from 14 days to under 3 days, and lower cross-border payment fees to below 3%. Kenya will pilot the technology in the first quarter of next year. Currently, Africa's cryptocurrency user base is expected to reach 75 million by 2026, with stablecoins accounting for 43% of transaction volume in sub-Saharan Africa.
Africa Launches Blockchain Trade Digitization Plan Targeting 55 Countries
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