Africa launches blockchain-based trade digitization initiative, aiming to cover 55 countries.

On November 18th, according to Cointelegraph, the African Free Trade Area Secretariat, in conjunction with the Iota Foundation and other organizations, launched the "Africa Digital Access and Public Trade Infrastructure" (ADAPT) platform, aiming to digitize cross-border trade through blockchain technology and stablecoins. The platform is planned for full launch in 2027 and will cover all 55 African countries by 2035. It is expected to generate an additional $70 billion in trade annually for Africa, reduce border clearance time from 14 days to less than 3 days, and lower cross-border payment fees to below 3%. Kenya will be the first to pilot the technology in the first quarter of next year. Currently, the number of cryptocurrency users in Africa is projected to reach 75 million by 2026, and stablecoins already account for 43% of transaction volume in sub-Saharan Africa.