Stablecoins To Gain Prominence In Africa

Stablecoins will become one of the most preferred digital assets in Africa, Yellowcard, an exchange platform for cryptocurrencies, has disclosed.

Fintech disclosed this while announcing the introduction of its USD Coin (USDC), a digital stablecoin on the stellar network to improve cross-border payments, remittances, and treasury management globally.
“We are thrilled to bring USDC on Stellar to our users. This is a giant leap forward for global payments, making it easier, faster, and more affordable for people around the world to access and utilise digital dollars,” Chris Maurice, Yellow Card’s chief executive officer, said in a statement.

Stablecoins are a type of cryptocurrency designed to address the issue of volatility among traditional cryptocurrencies. The preference for stablecoins hinges on the fact that they are tied to the dollar’s value, which protects it against inflation and eliminates the fear of volatility recorded by other digital assets.