Africa Strikes Back: PACM Launches as BRICS-Challenging Digital Currency Marketplace

Move over, BRICS—Africa's just flipped the script on global finance. The Pan-African Currency Marketplace (PACM) went live today, aiming to dethrone legacy systems with blockchain-powered trade settlements.

No more dollar dominance?

PACM's distributed ledger cuts SWIFT out of the equation, letting member states settle cross-border deals in seconds. Early adopters include Nigeria, Kenya, and South Africa—all betting big on sidestepping currency manipulation (and those pesky IMF conditions).

The cynical take? Another 'USD killer' that'll make crypto bros cheer until volatility strikes. But with 54 nations potentially onboard, this might be the first real shot at decentralizing post-colonial financial flows.

Watch your back, Wall Street.

Similar to BRICS Pay, Africa Confronts the US Dollar By Launching a New Currency Marketplace

BRICS is inspiring the majority of countries in Africa to remain financially independent and settle payments in their own currencies. This will make them self-reliant and not depend on the US and Western-backed financial systems like SWIFT, among others.said Ernest Mbenkum, CEO of Interstellar.

said Ernest. He highlighted that Africa’s financial services will be met similarly to BRICS Pay.