De-Fi could solve Africa’s foreign exchange problems, neo-bank CEO says

Forex liquidity and currency swaps are hard to access for many in Africa, which limits the use of dollar-based services in the continent’s import-dependent economy. This creates a vacuum that decentralized finance could solve, leveraging cryptocurrencies, blockchain networks and services (DApps), according to the CEO of Canza Finance Pascal Ntsama IV.

Ntsama said the neo-bank’s new DeFi technology, Baki, aims to address this challenge by providing a decentralized FX exchange for African currencies, enabling slippage-free swaps at central bank rates.

Speaking with Cointelegraph, the CEO and co-founder of Canza Finance, a neo-bank enabling decentralized cross-border payments for Africans,…

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