DeFi· ★★· neutral·

African businesses turn to stablecoins to cut payment delays, Kora CEO says

  • —Kora CEO: a bank payment to a Chinese manufacturer took 10 to 14 days via multiple correspondent banks
  • —Demand is driven by supplier settlements and cross-border payouts requiring dollars and speed
  • —Chainalysis: Nigeria received over $92.1 billion in crypto value from July 2024 to June 2025
  • —Banca d'Italia study: costs of 200 USDC transfers across 10 corridors ranged from 0.30% to nearly 9%
Why it matters: Growing stablecoin settlement in Africa boosts demand for dollar-backed tokens but creates reliance on foreign issuers' reserves and redemption.
#USDC
Source: crypto.news
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