Coinbase expand USDC access in Africa

[MrSpasybo]

Coinbase has announced a partnership with Yellow Card, a leading cryptocurrency exchange in Africa, to expand access to USDC on the continent. This partnership will make it easier for Africans to buy, sell, and store USDC, a stablecoin pegged to the US dollar.

“Our new partnership [...] will help usher in the future of money by giving millions of users access to USDC and fast, reliable, cheaper transactions on our decentralized, open L2 Base through both Coinbase and Yellow Card products"^[1]

In many African countries, inflation is high and traditional financial services are often expensive and inaccessible. USDC can offer a more affordable and reliable alternative for Africans who need to send money home or store their savings. I believe this will be an important step for USDC in competing for stable coin market share with Tether's USDT.

In recent months, USDT's capitalization has grown impressively and has surpassed $95B, while USDC's capitalization has decreased. Finding new markets is necessary and Africa is a new, dynamic and very potential market.

What do you think about the support from the African market for USDC in the future? Can this become the driving force for USDC to surpass USDT in 2024 cycle?
[1] Coinbase partners with Yellow Card to expand USDC access in Africa

[KryptoBull]

Coinbase has announced a partnership with Yellow Card, a leading cryptocurrency exchange in Africa, to expand access to USDC on the continent. This partnership will make it easier for Africans to buy, sell, and store USDC, a stablecoin pegged to the US dollar.

What do you think about the support from the African market for USDC in the future? Can this become the driving force for USDC to surpass USDT in 2024 cycle?

Stable coin is the gateway for cash flow to enter this market and it faces few barriers when entering the economy because its value is pegged to USD - the most popular currency in the world. Coinbase approaching Africa to expand its market is the right decision because African countries are ready to receive and test new financial services, while the United States and Europe are too cautious because their economies are already too large and could be negatively affected to the point where they cannot be adjusted if they adopt crypto in a hurry.

If Coinbase can serve the needs of African people to trade and own stable coins, they can truly grow and compete with Tether in terms of capitalization in 2025. The stable coin market is gradually growing and generating billions of dollars in profits for issuers like Tether and Circle/Coinbase. Circle/Coinbase certainly does not want to miss this opportunity.

[MrSpasybo]

Stable coin is the gateway for cash flow to enter this market and it faces few barriers when entering the economy because its value is pegged to USD - the most popular currency in the world. Coinbase approaching Africa to expand its market is the right decision because African countries are ready to receive and test new financial services, while the United States and Europe are too cautious because their economies are already too large and could be negatively affected to the point where they cannot be adjusted if they adopt crypto in a hurry.

If Coinbase can serve the needs of African people to trade and own stable coins, they can truly grow and compete with Tether in terms of capitalization in 2025. The stable coin market is gradually growing and generating billions of dollars in profits for issuers like Tether and Circle/Coinbase. Circle/Coinbase certainly does not want to miss this opportunity.

Africa is a potential market and they do not have as many strict regulations on crypto as in the US and Europe, this will be where Circle/Coinbase further explores the values of USDC. Maybe USDC is not only a gateway for investors to enter the market and buy other tokens, but USDC can become a store of value, means of payment or lending in many countries that do not yet have developed banking system. Compared to other tokens, stable coins are more suitable for widespread adoption without creating fear of devaluation, as people are used to viewing USD as a currency standard.

Tether is becoming extremely large, Circle/Coinbase will need a lot of time to compete with safer and more creative strategies.

[electronicash]

it does mean coinbase isn't just for US citizen right?  or will there be coinbase.africa?  no difference to USDT and USDC, they are both centralized. USD was once hard to use in those countries i guess its now going to be widely use.

while binance is getting ban from countries in Africa like Nigeria, coinbase is coming in.  seem like they planned it to kick binance and put themselves there. good job.

[MrSpasybo]

it does mean coinbase isn't just for US citizen right?  or will there be coinbase.africa?  no difference to USDT and USDC, they are both centralized. USD was once hard to use in those countries i guess its now going to be widely use.

while binance is getting ban from countries in Africa like Nigeria, coinbase is coming in.  seem like they planned it to kick binance and put themselves there. good job.

As I understand, temporarily we only have USDC for users in Africa, Coinbase does not yet provide trading services in Africa, or at least I have not heard of it with Coinbase.afria. I think Coinbase is focusing on the US market and just expanding their services through partnerships and popularizing USDC in new markets.

BUSD has been stopped, we see USDC push. Coinbase has done better than Binance in the regulatory arena.