AfCFTA, IOTA partner on stablecoin payments for African trade

The African Continental Free Trade Area (AfCFTA) and the IOTA Foundation are collaborating to develop a digital trade initiative based on stablecoin payments, CoinDesk reported. As part of this effort, the AfCFTA Digital Access and Public Infrastructure for Trade Initiative (ADAPT) will develop open-source digital public infrastructure for the 55 African member states. The goal is to use this open-source platform to introduce stablecoin payments for services such as freight transport between African nations, aiming to significantly simplify existing payment procedures and reduce costs.