Stablecoins: Africa's Killer Crypto App

We're dropping one more episode of our new show, crypto@scale, on The Flip's feed today. In this episode, we interview our first guests on what might be Africa's killer crypto app, stablecoins. According to data from Coinmetrics, cumulative Stablecoin volumes are at a $9 trillion annualized run rate, exceeding the volumes of all major card networks, except for Visa. Across the African continent, stablecoins are finding meaningful uptake, particularly in markets with low USD liquidity, or countries experiencing currency devaluation.In today's episode, we're going to explore stablecoins in two parts. First, a global perspective with Joao Reginatto, the VP of Product at Circle, which is the company behind the USDC stablecoin. Second, a local perspective with Ngozi Dozie, Co-Founder of the African digital bank, Carbon.This episode of crypto@scale is sponsored by Ripple. Across Africa, Ripple is partnering with local financial institutions and fintechs to bring the benefits of better cross-border remittances to the region. To learn more and get in contact with the Ripple team, head over to ripple.com.00:00 - Intro. Stablecoins are the best thing since sliced bread, according to Ngozi Dozie.02:23 - Introducing Joao Reginatto, VP, Product at Circle and product lead for USDC.02:48 - What is a stablecoins?04:21 - Why stablecoins?13:33 - Not all stablecoins are equal. USDC is pegged 1:1 to the Dollar.24:22 - What else is Circle focused on to broaden the adoption of USDC?28:30 - Regulation.32:10 - What's next for stablecoins?36:25 - Joao's recommendations.37:44 - Explooring stablecoins in the African context, with Carbon's Ngozi Dozie.40:48 - Use cases: access to foreign exchange, hedge against devaluation.44:05 - Carbon's FX and borrowing woes.48:22 - Stablecoins as a platform.52:27 - Challenges to stablecoin adoption.1:00:06 - Ngozi is scared of the risk of capital flight.1:03:46 - Ngozi's recommendations.Follow us on twitter @cryptoatscale.