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DeFi and Credit Risk

Adoption of the Solutions in Stages

According to a statement made by The Open Network (TON), the Democratic Republic of Congo (DRC) is considering launching a national stablecoin founded on blockchain technology. Additionally, the DRC, Cameroon, and the Republic of Congo intend to adopt cryptocurrency and blockchain-based technologies powered by the TON.

The blockchain entity's disclosure of its intention to supply these solutions after fruitful discussions with each of the three countries, according to the release. The three countries' adoption of TON's crypto and blockchain solutions will be phased in, the release suggested.

The Financial System's Democratic Transformation

Léon Juste Ibombo, the Republic of Congo's Minister of Posts, Telecommunications, and the Digital Economy, commented on the possibility of his country partnering with TON:

The Republic of the Congo has been on this path for a number of years, having encouraged and witnessed the widespread adoption of mobile payments across the country. This is the next step in that journey and we believe that TON is the right partner to facilitate this. This will be an invaluable, practical instrument for the growth and creation of wealth, both for the government and our people alike.

Ibombo's counterpart from the Democratic Republic of the Congo, Désiré Cashmir Eberande Kolongele, echoed similar comments, expressing his country's delight in taking this step. He asserted that the stablecoin's issuance democratizes "access to our financial system" for millions of unbanked and underbanked persons.

Minette Libom Li Likeng, Cameroon's Minister of Posts and Telecommunications, stated: "The relationship with TON has the potential to play a critical role in Cameroon's digital ecosystem by enhancing payment options and financial inclusion via CAMPOST, the country's public postal operator."

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