African Continental Free Trade Area, Iota Foundation, Tony Blair Institute, and World Economic Forum collaborate on ADAPT, a digital platform to streamline trade in Africa. Goals include $70 billion in additional annual trade, reducing border clearance times, and cross-border payment fees. Rollout starts in Kenya in Q1, expanding to Ghana and another country.

Chido Munyati of World Economic Forum highlights trade inefficiencies in Africa. ADAPT aims to tackle paper-based documentation and slow border payments. Digitization and blockchain technology are seen as solutions to improve African economies by enhancing connectivity and collaboration.

Africa is poised to become a major player in crypto, with over 75 million users projected by 2026. Statista estimates a 5.9% user rate and $5.1 billion in total revenue from the continent by 2026. Stablecoins already account for 43% of Sub-Saharan Africa’s total transaction volume, with Nigeria, South Africa, Ghana, Kenya, and Zambia leading the way.

Read more at Cointelegraph.: ADAPT Digital Platform Hopes to Boost African Trade Using Iota Blockchain