This Monday, the launch of the ADAPT initiative was announced. The African Continental Free Trade Area (AfCFTA) Secretariat and the IOTA Foundation, along with the Tony Blair Institute and the World Economic Forum (WEF), have joined in support of this project. The project will establish an open-source public digital infrastructure for the continent’s 55 member states. The modernization of trade in Africa will use IOTA’s DLT to digitize documents and stablecoins, specifically USDT, to settle cross-border payments, according to IOTA founder Dominik Schiener.
The innovation seeks to solve the $25 billion that Africa pays annually in transaction fees and the multi-billion dollar losses from document fraud, in a system where one shipment requires 240 paper documents. They reported total success in IOTA’s pilot tests in Kenya and Rwanda; border clearance times were reduced from six hours to 30 minutes, and manual paperwork fell by 60%. It is projected that Kenya alone will process 100,000 daily transactions on IOTA after its full implementation in 2026.
ADAPT will begin implementation in Kenya, Ghana, and a third country to be confirmed, before the planned continental expansion in 2026. The final goal is to integrate all 55 nations by 2035. The AfCFTA estimates that this digitalization could double intra-African trade, unlocking $70 billion in value and anchoring the crypto industry to the “real adoption and real value” of global logistics.
Source: https://x.com/iota/status/1990402321520451620
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