AfCFTA & IOTA Launch Digital Trade Initiative

The African Continental Free Trade Area (AfCFTA) and the IOTA Foundation have launched ADAPT, a digital trade initiative using stablecoins for settlements. This open-source system aims to modernize trade processes, enabling instant cross-border payments, verifiable digital trade documents, and interoperable digital identities. Pilot programs in Kenya and Rwanda have shown significant benefits, with Kenyan exporters saving around $400 monthly and border clearance times dropping from 6 hours to 30 minutes. ADAPT will start in Kenya, Ghana, and another North African country, with a goal to integrate all 55 AfCFTA nations by 2035, potentially doubling trade within Africa and generating $23.6 billion in annual economic gains.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.