Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the leading advocate for blockchain adoption and innovation in Nigeria, has lauded the transformative contributions of its esteemed member, Interstellar, to the African blockchain ecosystem.
Interstellar’s recent partnership with the Pan-African Payment and Settlement System (PAPSS) to launch the PAPSS African Currency Marketplace (PACM) marks a monumental milestone in revolutionizing intra-African trade and financial sovereignty, aligning seamlessly with SiBAN’s vision of a blockchain-driven future.
Interstellar, a trailblazing deep-tech company and proud SiBAN member, has demonstrated unparalleled leadership through its development of the blockchain-agnostic STARGATE platform, which powers PACM. This groundbreaking marketplace enables seamless, real-time peer-to-peer exchange of African currencies, eliminating a $5 billion annual trade bottleneck caused by currency inconvertibility. By leveraging permissioned blockchain technology, Interstellar has created a secure, scalable, and transparent solution that empowers businesses, SMEs, and informal traders to transact in local currencies, reducing costs and fostering financial inclusion across the continent.
“Interstellar’s innovative approach exemplifies the transformative potential of blockchain technology. Their work with PAPSS showcases how Nigerian blockchain expertise can address real-world challenges, positioning Africa as a global leader in financial innovation. We are immensely proud to have Interstellar as a SiBAN member,” said Obinna Iwuno, President of SiBAN in a statement in Abuja.
Blockchain technology is the cornerstone of a decentralized, transparent, and inclusive future. Its ability to ensure trust, security, and efficiency in transactions is reshaping industries worldwide, from finance and trade to healthcare and governance. In Africa, where fragmented financial systems and high transaction costs have long hindered progress, blockchain offers a pathway to economic empowerment and self-reliance. The PACM, built on Interstellar’s Bantu blockchain network, is a testament to this potential, enabling 19 African countries and multinationals to transact seamlessly while adhering to local regulations.