Blockfinex Introduces DollarCoin to Bring Stability to Africa’s Digital Economy

Blockfinex Danny Oyekan, has launched DollarCoin (USDR)—a U.S.-regulated stablecoin pegged 1:1 to the U.S. Dollar. This initiative is set to address the ongoing challenges of inflation, currency devaluation, and limited access to global financial systems in emerging markets, particularly across Africa.

As economies struggle with volatile local currencies like the Naira, DollarCoin offers an alternative: a stable, borderless digital currency that combines the reliability of traditional finance with the efficiency of blockchain technology. For Blockfinex, the mission is clear, to deliver financial tools that promote economic inclusion and empower individuals and businesses operating outside mainstream financial systems.

“Users don’t just need crypto; they need stability, speed, and accessibility,” said Danny Oyekan. “DollarCoin is our answer to that call.”

DollarCoin’s primary appeal lies in its practicality. It offers near-instant transfers with low transaction fees, making it especially suitable for cross-border remittances, peer-to-peer payments, and online transactions. Freelancers, traders, and digital entrepreneurs across Africa can now receive and send payments globally without depending on unstable local banking systems or bearing the high costs of currency exchange.

The stablecoin is fully issued and managed by Blockfinex and is already available for trading on its platform, blockfinex.com. The exchange is actively working on broader integration, including mobile wallets, e-commerce platforms, and decentralized finance (DeFi) systems. Targeted use cases range from international remittances and e-commerce to inflation-protected savings and global freelancing.

Crucially, DollarCoin is backed by real U.S. Dollar reserves and operates under a U.S. money transmitter license, distinguishing it from algorithmic or uncollateralized stablecoins that have previously collapsed. To enhance trust, Blockfinex has also committed to publishing regular reserve transparency reports.

With plans to expand DollarCoin into merchant payment gateways and consumer-facing apps, Blockfinex sees this launch as more than a financial product, it’s a step toward reshaping access to economic opportunity in underserved regions.

“DollarCoin is not just a currency,” said Oyekan. “It’s a tool for empowerment, giving people in Africa a fair chance to participate in the global financial system.”