#AirdropSafetyGuide The stablecoin issuer Circle has partnered with Onafriq, Africa's largest payment gateway, to reduce the high cost of cross-border payments across the continent using USDC.
According to a press release shared with Cointelegraph, Circle aims to pilot USDC settlements
USDC
€0.8788
within Onafriq's vast network, which connects over 500 wallets and 200 million bank accounts in more than 40 countries.
"With the integration of USDC, we aim to simplify financial transactions for institutions and individuals, reduce costs, and strengthen trust," said Onafriq's founder and CEO, Dare Okoudjou.
He added that the integration of USDC will simplify transactions and boost trust in digital financial services.
Currently, more than 80% of intra-African transactions are conducted through correspondent banks outside the continent and are settled in currencies like the US dollar or the euro. This amounts to about $5 billion annually in fees.
