As part of the partnership, Coinbase plans to provide millions of users with access to the USDC stablecoin based on its own Base blockchain. Thanks to this, users will be able to make fast and secure payments and transfers. At the initial stage, services will be provided in 20 countries in the region, and then it is planned to expand the list of countries.
Both users of the Coinbase Wallet and clients of Yellow Card services will have access to the USDC stablecoin. Coinbase Wallet users will be able to directly purchase USDC starting this February. The exchange will also disable transaction fees for this stablecoin, provided that a special link is used. Thus, it will be possible to transfer funds without commissions in various instant messengers, including Telegram and WhatsApp.
“Residents of many African countries suffer from high inflation and are dependent on payment services. The partnership will allow us to increase economic freedom in many places and launch a modern financial system where it has not yet existed,” Coinbase said in a statement.
The development of the cryptocurrency industry in Africa could yield significant benefits due to the large young population and lack of access to traditional financial services. Let us remind you that Coinbase continues to aggressively increase its presence in various countries around the world. Thus, in December the site received a license to operate in France.
Source: Bits
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