Africa Adopts IOTA Stablecoins to Facilitate $70B Trade Technology Across the Continent

Digital Trade Initiative in Africa: The African Continental Free Trade Area Secretariat and IOTA Foundation are launching a digital trade initiative using stablecoins, specifically USDT, to modernize trade processes across 55 African nations, aiming to reduce costs and improve efficiency.

Goals and Economic Impact: The initiative, named ADAPT, seeks to cut border delays by over 50%, eliminate document fraud, and potentially double intra-African trade, unlocking an estimated $70 billion in economic value by 2035.

Pilot Successes: Initial pilot programs in Kenya and Rwanda have shown significant improvements, including reduced documentation costs and faster border clearance times, demonstrating the potential benefits of the new system.

Future Expansion Plans: ADAPT will start with Kenya, Ghana, and another North African country, with plans to expand continent-wide by 2026, integrating all AfCFTA nations by 2035 to enhance trade finance and payment systems.