Three African countries, namely Cameroon, the Democratic Republic of the Congo (DRC), and the Republic of the Congo, are said to be considering implementing cryptocurrency and blockchain solutions powered by The Open Network (TON). Cameroon is also considering issuing a national stablecoin based on the same blockchain network.
Phased Adoption of the Solutions
According to a statement released by The Open Network (TON), the Democratic Republic of the Congo (DRC) is considering issuing a national stablecoin built on blockchain. Furthermore, the DRC, along with Cameroon and the Republic of Congo, intend to use the TON to power cryptocurrency and blockchain-based solutions.
Democratizing the Financial System
Léon Juste Ibombo, the Republic of Congo’s Minister for Posts, Telecommunications, and the Digital Economy commented on his country’s potential partnership with TON:
“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.”
Similar sentiments were expressed by Ibombo’s counterpart from the Democratic Republic of the Congo, Désiré Cashmir Eberande Kolongele, who spoke of his country’s pride in taking this step. According to him, the stablecoin’s issuance democratises “access to our financial system for millions of unbanked and underbanked citizens.”
Minette Libom Li Likeng, Cameroon’s Minister of Posts and Telecommunications, stated, “The partnership with TON can play a fundamental role in Cameroon’s digital ecosystem for boosting payment solutions and financial inclusion through CAMPOST, the public postal operator.”
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