Visa, M-Pesa, and Onafriq Launch Stablecoin Cross-Border Remittance Pilot in the Democratic Republic of Congo

Odaily Odaily reports that Visa, M-Pesa, and Onafriq have launched a pilot project in the Democratic Republic of Congo, using a US dollar-pegged stablecoin to settle cross-border mobile transactions. The pilot targets use cases such as mobile wallet top-ups from abroad, international commercial transactions, and remittances. The World Bank estimates that the average cost of cross-border remittances in Sub-Saharan Africa is close to 8% of the transfer amount. Visa has previously partnered with African cryptocurrency exchange Yellow Card to explore stablecoin treasury management and international settlement operations. (Bitcoin.com News).