Three African countries — namely Cameroon, the Democratic Republic of Congo (DRC), and the Republic of Congo — are reportedly planning to adopt cryptocurrency and blockchain solutions powered by The Open Network (TON). Separately, Cameroon is considering issuing a national stablecoin that is based on the same blockchain network.
Gradual adoption of solutions
The Democratic Republic of Congo (DRC) is reportedly considering issuing a national blockchain-based stablecoin, according to a statement published by The Open Network (TON). Additionally, the DRC, along with Cameroon and the Republic of Congo, are planning to adopt cryptocurrency and blockchain-based solutions powered by TON.
According to TON’s statement, the announcement of the blockchain entity’s plan to deliver these solutions follows its successful engagements with each of the three countries. Adoption of TON’s crypto and blockchain solutions by the three countries will be phased, the statement suggested.
Democratize the financial system
Commenting on the possibilities of his country’s potential partnership with TON, the Minister of Posts, Telecommunications and Digital Economy of the Republic of Congo, Léon Juste Ibombo, said:
The Republic of the Congo has been on this path for a number of years, having encouraged and witnessed the widespread adoption of mobile payments across the country. This is the next step in that journey and we believe that TON is the right partner to facilitate this. This will be an invaluable, practical instrument for the growth and creation of wealth, both for the government and our people alike.
Echoing similar sentiments, Ibombo’s counterpart from the DRC, Désiré Cashmir Eberande Kolongele, spoke of his country’s pride in taking this step. He said issuing the stablecoin democratizes “access to our financial system for millions of unbanked and underbanked citizens.”
For his part, the Cameroonian Minister of Posts and Telecommunication, Minette Libom Li Likeng, said: “The partnership with TON can play a fundamental role in the digital ecosystem of Cameroon for boosting the payment solutions and financial inclusion via CAMPOST, the public postal operator.”
