Crypto Use Case: Africa Turns to Stablecoins, IOTA to Unlock $70B in Cross-Border Trading

The African Continental Free Trade Area (AfCFTA) Secretariat and the IOTA Foundation have launched a digital trade initiative aimed at enhancing trade across Africa using stablecoin-based settlement. This initiative, named ADAPT, partners with the Tony Blair Institute and the World Economic Forum to create an open-source digital public infrastructure for 55 African nations. With stablecoins like USDT at its core, the initiative seeks to enable instantaneous cross-border payments, verifiable digital documents, and streamlined trade processes, aiming to reduce costs and eliminate bureaucratic delays. The program plans to expand from initial trials in Kenya and Ghana with the goal of reaching all 55 AfCFTA countries by 2035, projected to double intra-African trade and unlock $70 billion in economic value. By integrating stablecoin technology into trade finance, the initiative could significantly cut transaction fees and document fraud, ultimately improving the efficiency and speed of trade across the continent.

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