Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the leading advocate for blockchain adoption and innovation in Nigeria, proudly recognize 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: Pioneering Blockchain Innovation
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: The Future of Africa’s Economic Transformation
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.
SiBAN and its members are at the forefront of this revolution, championing blockchain use cases that drive tangible impact. From facilitating cross-border payments to securing supply chains and enhancing digital identity systems, SiBAN members are deploying blockchain solutions across diverse sectors, fostering innovation that aligns with the African Continental Free Trade Area (AfCFTA) and Nigeria’s digital economy agenda.
SiBAN’s Role in Advancing Blockchain Adoption
As Nigeria’s premier blockchain advocacy group, SiBAN is committed to promoting the adoption, education, and regulation of blockchain technology. Through strategic partnerships, thought leadership, and community engagement, SiBAN empowers its members to develop cutting-edge solutions that address local and global challenges. Interstellar’s success with PACM underscores the strength of SiBAN’s ecosystem, where collaboration and innovation thrive.
“Blockchain is not just a technology; it is a catalyst for Africa’s economic renaissance. As a SiBAN member, we are honored to contribute to this vision, and we look forward to continued collaboration to unlock the full potential of blockchain for Nigeria and beyond,” said Ernest Mbenkum, CEO of Interstellar.
A Call to Action
SiBAN calls on policymakers, businesses, and innovators to embrace blockchain as a tool for sustainable development. By fostering a regulatory environment that encourages innovation while ensuring consumer protection, Nigeria can solidify its position as a global blockchain hub.
SiBAN remains dedicated to supporting its members and partners, like Interstellar, in building solutions that drive financial inclusion, transparency, and economic growth.