Africa’s first stablecoin, the Africa Stable-Coin(ABCD) is backed by Nigeria’s national currency, the Naira. Also, the fiat-backed crypto is built on Binance’s native blockchain, the Binance Chain.
The crypto momentum in Africa doesn’t seem to die down. Budding startups are leveraging blockchain and decentralized ledger technology to create novel applications that will change the future of finance on the continent.
Africa Stable-Coin is the brainchild of Ghana-based cross-border money transfer startup Bit Sika. According to reports, the project was fulfilled in collaboration with Linovo Capital was unveiled just last week.
It got enrolled in the Binance Labs Incubation Program earlier this year. Bit Sika CEO Atsu Davoh even met Jack Dorsey, when the Twitter chief was on his trip to Ghana. Now we know who was the person from Jack’s Ghana Bitcoin meetup picture which got circulated a lot citing his interest to grow Africa’s BTC and crypto ecosystem.
So What’s the ABCD Stablecoin All About?