After El Salvador adopted Bitcoin as a legal tender in September 2021, several countries decided to follow its example. This time, three African states – Cameroon, the Democratic Republic of the Congo (DRC), and the Republic of the Congo – plan to legally implement cryptocurrencies in their economic systems. All three countries intend to adopt The Open Network (TON) crypto as the leading virtual tender and also support blockchain solutions. Learn more about the cryptocurrency sector on the GBC Time website.
The legal adoption of digital currencies aims to boost the development of these countries, allowing citizens to better engage in the economy. With 40 million mobile users in the DRC alone, the potential of the crypto sector is staggering. It also creates new opportunities for foreign businesses to enter the African markets. With the legal recognition of decentralized currencies, European business owners will be able to easily launch in these developing countries.
Each country will develop an individual plan for gradual cryptocurrency adoption. The Democratic Republic of the Congo is also considering creating a national stablecoin, based on the TON blockchain.
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