Why Is Moving Money Across Africa Still So Difficult? The Promise—and Problem—of Stablecoins by Amanda Clinton
Why can a flight between Lagos and Accra take little more than an hour while an international bank payment may take much longer? As Mastercard, Yellow Card and other financial institutions explore stablecoin payments, Africa faces an important financial choice. This in-depth commentary explains stablecoins in plain English, distinguishes Nigeria’s eNaira from cNGN, USDT and USDC, and examines whether digital money can genuinely reduce costs for businesses and families. It also explores bank partnerships, currency sovereignty, regulation, consumer protection, PAPSS and the infrastructure required to make cross-border payments trustworthy.
