Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions

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Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions – Cameroon, the Republic of Congo, and the Democratic Republic Republic of Congo (DRC) are said to be considering using cryptocurrency and blockchain technologies powered by The Open Network (TON). Cameroon, on the other hand, is considering launching a national stablecoin built on the same blockchain network.

The DRC is considering introducing a national stablecoin based on blockchain, according to a statement from The Open Network (TON). Furthermore, the DRC, together with Cameroon and the Republic of Congo, intends to use TON-powered cryptocurrency and blockchain-based solutions.

Also Read: Ghana Central Bank Reiterates Warning Against Practice of Pricing Goods in Forex

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According to TON, the revelation of the blockchain entity’s plan to deliver these solutions came after effective talks with each of the three countries. According to the release, the 3 countries’ implementation of TON’s crypto and blockchain solutions would be phased in.

Léon Juste Ibombo, the Republic of Congo’s Minister for Posts, Telecommunications, and the Digital Economy, commented on the possibility of his country’s potential relationship with TON:

“The Republic of Congo has been on this path for a long time, having advocated and observed widespread use of mobile payments across the country. This is the next phase in the process, and we believe TON is the appropriate partner to help us get there. This will be a wonderful, practical tool for both the government and our people in terms of wealth creation and growth.”

Ibombo’s DRC counterpart, Désiré Cashmir Eberande Kolongele, echoed similar comments, expressing his country’s satisfaction in taking this step. He argues that establishing the stablecoin will provide “access to our financial system for millions of unbanked and underbanked individuals.”

Also Read: Fintech Platform Nequi Plans to Get Into the Cryptocurrency Business in Colombia

“The relationship with TON has the potential to play a critical role in Cameroon’s digital ecosystem, extending payment options and financial inclusion through CAMPOST, the public postal operator,” stated Minette Libom Li Likeng, Cameroon’s Minister of Posts and Telecommunications.

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