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Web3 Economy to Gain More Traction in Africa Through DeFi-Based Financial Inclusion

Fonbnk, a Web3 on-ramp that enables Africans to obtain cryptocurrency assets by exchanging airtime credits, has partnered with Tanda, a merchant network platform in East Africa, to launch an airtime trading marketplace. The partnership will bring about an increase in liquidity to the marketplace through the buying and selling of prepaid airtime for profit, creating opportunities for agents to earn revenue and store their profits in dollarized stablecoins. The partnership enables more African users to participate in the Web3 economy, without requiring bank accounts or cards. Fonbnk plans to expand earning opportunities for African micro-entrepreneurs and bring DeFi-based financial inclusion to the masses across Africa. The top five African countries adopting Web3 and crypto are South Africa, Nigeria, Zimbabwe, Kenya, and Ghana, according to BitcoinAfrica.io.

(By AMAKA NWAOKOCHA)

Africa Web3 Cryptocurrency
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