Stellar partners with Fonbnk to create on/off-ramps for the global digital economy.
Airtime credits can now be converted into USDC using Stellar’s network.
Unlocking financial access for over 350 million unbanked people in Africa.
The Stellar Network and Fonbnk have partnered to provide prepaid SIM users in Africa with access to the global digital economy. This collaboration allows users to convert airtime credits into USDC stablecoins through the Stellar blockchain.
350 million people in Africa don't have access to bank accounts, and only 20% of families have formal bank accounts.@fonbnk1 provides a real-world solution to this problem by turning 8 billion active prepaid SIM cards globally into virtual debit cards with Stellar.
Here's how…
— Stellar (@StellarOrg) December 30, 2024
This initiative leverages the widespread use of prepaid mobile SIM cards in Africa to provide seamless on- and off-ramps to the Stellar blockchain. The goal is to revolutionize how users access and participate in the global digital economy.
How the Partnership Works
Users can deposit prepaid airtime credits into their wallets via Fonbnk’s platform. These credits ar…
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