Inally, the project will also position both Maker Foundation and Pundi X as key players in the local economy and as a dependable way to verify transactions. Increased Dai usage will also open up the potential for increased downloads of XWallet and XPASS, supplementary apps that can assist transactions. The pilot phase of the network activation seeks to enlist 20 active merchants, all of which will show the handiness of XPOS devices. Of course, there are also many benefits to Pundi X as well. All of these are issues that Pundi X can be instrumental in resolving. Furthermore, there is still no local exchange service in Ghana that offers a straight exchange between Dai and fiat currency. The country faces persistent inflation, as well as the fact that a lot of their population remains unbanked/underbanked. “There are some things traditional financial systems can’t do, so we’re glad to be able to work with Pundi X and give Dai a chance to show the numerous gaps in the market that it can fill.”Īside from issues with traditional remittance services, Yakubu refers to difficulties within the Ghanian banking system. “Setting up a DAN in a country like Ghana is undoubtedly a win for further financial inclusion,” says Sahabia Yakubu, Ghana based MakerDAO African Ambassador. The network will also include Dai exchange agents, who are entrepreneurs that are willing to make income buying and selling Dai, offering an easy way for ordinary Ghanians to start using the coin.
Merchants in this program will be onboarded onto Pundi X’s merchant list, which enables them to set up an XPOS device that can accept, sell and/or buy Dai directly from their customers. This network will comprise merchants that can accept payments in Dai quickly, easily, and securely for all sorts of goods and services.
This is why we are elated to announce we are working alongside Dai stablecoin builder Maker Foundation in building a Dai-Agent Network (DAN) in the country. This newfound prominence has been attributed to a rising number of use cases that show more and more Ghanaians prefer to transfer money using cryptocurrencies such as bitcoin, thanks to the absence of high transaction fees one would normally find at traditional money transfer services. The West African nation of Ghana has recently emerged as one of the most crypto-friendly nations in recent years.
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