NoOnes Confirms Stablecoin Explosion in Africa – Now 60% of All Trades

Stablecoins Becoming Default Currencies Across Africa

New research from NoOnes confirms that stablecoins continue to be the preferred medium of exchange of the Global South. In Africa, USDT/USDC have almost become default currencies across the continent.

At the end of 2023, stablecoins accounted for just over 25% of trades across all products on the NoOnes app. That number doubled within a year, and stablecoins now account for 60% of all trades.

Stablecoins have quickly become the default value layer across the NoOnes platform, and NoOnes is continually working on upgrades to create a seamless loop that enables traders to earn, hold, spend, and cash-out without friction.

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Users can direct-buy USDT/USDC and they can now cash-out of USDT to more than 15 countries, enhancing real world utility. With low spread swaps between USDT/USDC and Bitcoin/USDC, traders are enjoying great margins and increased liquidity.

With fast, low-fee networks such as Solana, Arbitrum, Base, Ton, and USDC on BSC for sending/receiving coins, NoOnes users are benefiting more than ever before.

Potential new upgrades include default pricing in USDT/USDC, auto converting bank transfers and gift cards to stablecoins, as well as strengthening MoMo/Bank cash outs and direct MoMo/Bank stablecoin purchases.

NoOnes is building tools for freelancers, including invoice templates with payment links, and streamlining remittances with an easier send/receive flow.

NoOnes has become a USD bank alternative, and that sentiment fits with NoOnes “financial freedom for all” philosophy.

Stablecoins are particularly attractive to Africans as a hedge against local currency fluctuations and for transaction speed, but NoOnes provides the rails to access the global financial system.

Stablecoins have allowed more people in the Global South to earn USD, and the tools on the NoOnes app now allow them to store that value, spend what they earn globally, and cash out locally.

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