"Bitcoin’s king for value storage, but stablecoins solve payments. Our summit showcases these global trends to educate Africans on opportunities and challenges," she added.

Regulation’s key, though, "South Africa’s classified crypto as a financial product, but we need more clarity."

She explained that the US is ahead in regulation of stablecoins, embracing Tether and Circle. Bitcoin’s a store of value, up 628 782% in 10 years, but stablecoins are for payments.

Kuhnel emphasised that stablecoins drive digital inclusion in payments and is already becoming a game changer for Africa with one of the highest adoption rates in the world.

What is stablecoin?

According to the World Economic Forum (WEF), a stablecoin is a type of cryptocurrency that is pegged to a specific reserve asset. By being linked to an underlying asset, stablecoins can maintain a steadier value, making them a more reliable medium of exchange than other volatile cryptocurrencies.

"Stablecoins are issued with a promise to keep a value that is stable relative to an external anchor," noted a WEF white paper on digital currencies. Total transfer volume of stablecoins hit $27.6 trillion (R483trl) last year, surpassing the combined volume of Visa and Mastercard transactions in 2024, the WEF noted.

Building a Crypto Ecosystem

Kuhnel explained in the interview that she started getting into the Bitcoin space in 2013. In 2014, Kuhnel co-founded Bitcoin Events with Theo Sauls. This emerged as a result of their early adoption of bitcoin and their strong belief in the transformative potential of blockchain technology. With a keen focus on addressing challenges - such as financial inclusion, economic development, and job creation - they recognised the need for education and information on blockchain technology and cryptocurrencies in the region.

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Editor's Interview: How stablecoins are transforming Africa's financial landscape