E-commerce Firm PATRICIA Plans to Introduce the First Stable Coin in Africa
Cryptocurrencies are essential forms of investment in the world today. They also have a distinct feature to that of fiat currencies.
Even at this, stable coins haven’t had a good percentage of trading when it comes to cryptocurrencies in Africa, but now PATRICIA Technologies, a leading conglomerate in crypto-exchange in Africa is planning to fill the gaps and introduce the first stable coin in Africa.
It is important to note that the latest Google trends show that Africa countries such as Nigeria, Ghana, South Africa, and Kenya are showcasing the most interest in cryptocurrency (especially Bitcoin) in the past one year, but however, this intense interest is not reflecting in terms of crypto-trading in the region – and PATRICIA aims to tackle that problem precisely.
PATRICIA Technologies a leading gift-card company in Africa; it is also a prominent crypto-exchange company that has its branches in Nigeria and Ghana. The company wants to promote cryptocurrencies (especially stable coins) in Africa.
The Founder of PATRICIA Technologies, Mr. Hanu Agbodje, conveyed the news during a briefing to lead Africa into a new crypto-trading experience. During the briefing, Mr. Agbodje stated his satisfaction with Africa’s growth in technology and its new interest in cryptocurrency and crypto-trading.
“Stable coins aren’t enjoying the same intense growth in crypto-trading especially when it comes to Africa. That gap is what PATRICA aims to fill by introducing stable coins into the African market for trading.”
He further went on to say:
“The media has covered crypto-currencies for a few years now. Despite these efforts, the true nature of crypto-currencies remains somewhat murky and undefined. At the moment, crypto-currencies represent different things to regulators, bankers, and the general public. We intend to offer Africans something reliable, beneficial and that will boost the IGR of many African countries. Stable coins are important for exchange users, exchange operators, and for the cryptocurrency market as a whole.”
The essentialities of Stable coins are numerous in the crypto-market today. Stablecoins are hanged to $1 USD. For more understanding, a Stable coin is a terminology used in the crypto space for a crypto meant to hold on to stable values.
Tether, for instance, is a stable coin that is pegged to USD 1 and it is a price-stable digital asset. Nevertheless, the introduction of Stable coin for Africa will surely encourage cryptocurrency trading and increase Africa’s interest in cryptocurrency.
PATRICIA not only prides itself in trading gift-cards and convert cryptocurrencies like Bitcoins. The company measures intense growths annually, and last year, it opened an online clothing store Room19, to make it one of the best e-commerce firms in Africa.
Speaking during the launch of Room19, Mr. Abdoje said that PATRICIA would continue to do things differently and come up with new innovations tailored to make life easier for Africans through technology.
He further said that,
“PATRICIA will change the world and also change how businesses are perceived in Africa. Our vision is to make e-commerce system safe and secured for everyone; to offer peace of mind while doing business with us.”