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Bitcoin and Stablecoins Will Bring Crypto Mass Adoption to Africa, Experts Say

Bitcoin and Stablecoins Will Bring Crypto Mass Adoption to Africa, Experts Say

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The sentiment permeated talks and fireside chats at the 2023 Blockchain Africa Conference in Johannesburg, South Africa.

The Blockchain Africa Conference in South Africa featured discussions on the potential for bitcoin and stablecoins to drive crypto mass adoption on the continent. Marius Reitz, General Manager for Africa at Luno, predicted that neighboring countries may also adopt bitcoin as legal tender in the future, potentially leading to its use as a regional or common currency across the African Union. Meanwhile, Jonathan Ovadia, CEO and co-founder of South African crypto exchange Ovex, highlighted the utility of stablecoins, describing them as "one of the biggest innovations in the entire crypto ecosystem." He went on to predict that stablecoins could replace the banking system altogether, given their potential for global interoperability.


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