Nigeria, 19 Other Countries Gain USDC Access
Nigeria and 19 other African countries have partnered with Coinbase and Yellow Card to increase USD Coin stablecoin access and promote reliable transactions at less than half the cost of fiat transfers.
Coinbase’s wallet users across these 20 countries, which account for about half of the continent’s population, will be able to purchase USDC directly from its Wallet app starting in February.
The partnership aims to provide millions of users access to USDC and fast, reliable, and cheaper transactions on Coinbase’s decentralized, open L2 Base through both Coinbase and Yellow Card products.
Yellow Card CEO Chris Maurice said the partnership involves Coinbase integrating Yellow Card’s payment rails in Africa, allowing customers to on and off-ramp fiat to Bitcoin.
The partnership is expected to offer a more economically viable way to transact in the region, as remittances can account for up to 20% or more of GDP in many developing countries.
(With inputs from Shikha Singh)
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