South Africa wants more African trade. Stablecoins could help make it happen.

When a South African business pays a supplier in Malawi, the money often takes a detour through the global financial system. Instead of moving directly across the continent, the payment is often routed through correspondent banks and the United States (US) dollar before reaching its destination.

It’s a paradox at the heart of the African Continental Free Trade Area (AfCFTA), Africa’s…