The Chief Technology Officer (CTO) of Hyperbridge has called on African financial institutions to take the lead in issuing local stablecoins — digital currencies backed by domestic assets or fiat reserves — to strengthen the continent’s financial ecosystem and promote regional economic independence.
Speaking at a recent fintech forum, the CTO emphasized that Africa stands at the edge of a transformative digital finance era. While global stablecoins such as USDT and USDC currently dominate cross-border transactions and crypto markets, the CTO argued that reliance on foreign-backed digital assets exposes African economies to external volatility and limits monetary sovereignty.
“Stablecoins pegged to African currencies like the naira, cedi, or shilling can unlock new pathways for trade, remittances, and financial inclusion,” the CTO stated. “They will reduce dependence on the U.S. dollar for intra-African commerce and allow countries to retain greater control over their digital financial infrastructure.”
Hyperbridge, a blockchain-based interoperability platform, envisions a future where banks and regulated fintechs collaborate to create regionally recognized digital tokens anchored in transparency and compliance. By leveraging blockchain technology, local stablecoins could facilitate faster settlements, cut transaction costs, and enable seamless cross-border trade across the African Continental Free Trade Area (AfCFTA).
The CTO further highlighted that such initiatives must be built within robust regulatory framework to ensure stability and trust. He urged central banks to engage proactively with technology innovators and develop sandboxes that support experimentation while maintaining financial integrity.
Analysts agree that local stablecoins could help solve long-standing liquidity and payment challenges, especially for small and medium-sized enterprises (SMEs) and the unbanked population. However, successful implementation will depend on cooperation between regulators, financial institutions, and technology providers.
Hyperbridge’s call reflects growing momentum in Africa’s digital finance space, where blockchain solutions are increasingly seen as tools for sustainable growth and regional integration. If realized, local stablecoins could mark a major step toward financial sovereignty, enabling Africa to set its own course in the global digital economy.
Leave a Reply