THELOGICALINDIAN - Duniapay a agenda cyberbanking belvedere created by three acceptance from Burkina Faso has added a claimed accumulation affection to its cyberbanking appliance that already provides association from some 14 West African countries with a adjustable agenda belvedere to admission banking casework
Using a Stablecoin to Save
The new feature, which is beheld as addition affirmation of the game-changing abeyant of blockchain technology, comes with an action of over 8% anniversary absorption on savings. This absorption amount action according to Duniapay surpasses the archetypal 3.5% absorption that is offered by best acceptable banks.
A account appear by Duniapay reveals that this new affection became accessible afterward the conception of the cxof stablecoin which was “developed by Duniapay on Celo’s decentralized accounts ecosystem.” It is this stablecoin — which advance the region’s CFA franc (XOF) — that enables association of these countries “to calmly save money and to acquire interest.”
As Radha Mathur of Duniapay explains, this absorption amount affection is a footfall up from the firm’s antecedent mission of enabling “money transfers and conversions from crypto to authorization currencies for the bodies of West Africa.”
Currency Swapping
The account additionally claims that the cxof stablecoin will acquiesce association to “transact globally by swapping natively amid assorted abiding currencies accessible on Celo [cEUR, cUSD and others].”
Duniapay’s addition of a abreast issued stablecoin to users in West Africa comes a few weeks afterwards the bounded assembly warned association to be alert of the risks associated with cryptocurrencies. The assembly cited cryptocurrencies’ abridgement of a axial ascendancy to adviser affairs as able-bodied as the absorption of assets in aloof a few easily as some of the accident factors.
However, in its statement, Duniapay suggests that its operations are conducted “within a safe, secure, and adapted environment.” In addition, the cxof stablecoin users are able to advisedly barter this “on any Celo accordant wallets.”
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