On Thursday, May 2, 2024, the company Web3 TDB hosted an X webinar to discuss the role of Stablecoins and the role it can play in Africa’s financial space
Details
In X Space they were added Mike BrockTBD CEO Chris Maurice, CEO of Yellow Card, and Kash RazzaghiCEO of Circle.
Online discussion revolved around how digital identities and stablecoins can help African finance become more interoperable and inclusive.
The panel discussed Decentralized Identifiers (DIDs), unique identifiers that can be issued by decentralized platforms to help identify individuals and organizations.
Prospects
The panel discussed its benefits USDCa digital dollar backed 100% by highly liquid cash, accessible on the Yellow Card platform.
They also discussed the progress made by some countries in Africa, particularly South Africa, in opening up stablecoins. South Africa has recently registered some crypto companies as Crypto Asset service providers.
The panel said it was still early days when it comes to cryptocurrency regulation in Africa, but was optimistic that some progress in countries like South Africa would open up more discussion about the use of stablecoins on the continent, especially for cross-border payments.
By The Numbers
The guests discussed how many Africans are still largely unbanked 45% of the population no bank account in 2021.
What happens next?
TBD will be practical tbDEX Developer Workshops in Africa this May. The countries include Ghana (May 16), Kenya (May 24)and South Africa (May 28).
These full-day workshops will teach developers how to use tbDEX, an open source liquidity and trust protocol, to unlock frictionless, compliant cross-border payments that settle in seconds, not days.
tbDEX enables seamless exchanges across a wide range of currency pairs, using open standards such as decentralized identity and verifiable credentials to meet legal and regulatory obligations.
To register for a workshop, visit: tbdex.io/workshops.
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