[dragandj]

The global poor already had ways to store value in dollars. They could simply exchange whatever meager savings they had into... real dollars! And they have been doing that for decades. I don't know whether anyone in the west really believes in this bullshit of cryptocurrencies that give the global poor options.

[ryanjshaw]

This is simply not true. In South Africa, one of the largest African economies, you cannot hold foreign currency unless you are traveling and then you have to sell it back within 30 days of returning to the country. You can open a foreign currency account with a minimum of eg R1500 which is half the monthly minimum wage. Then there are the exchange fees to talk about. You are oversimplifying.

[luke5441]

So having foreign currency in stable coins is allowed in South Africa?