In a defining moment for Africa’s blockchain journey, the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) is celebrating one of its most visionary members, Interstellar, for making bold strides that are reshaping the future of intra-African trade and financial sovereignty.
Through a strategic partnership with the Pan-African Payment and Settlement System (PAPSS), Interstellar has unveiled the PAPSS African Currency Marketplace (PACM), a revolutionary platform poised to eliminate a long-standing $5 billion bottleneck caused by currency inconvertibility across African nations.
For SiBAN, this milestone is more than a technical achievement, it’s a powerful reflection of the innovation and leadership emerging from Nigeria’s blockchain ecosystem.
Interstellar: Driving Africa’s Financial Future with Blockchain
At the core of PACM is STARGATE, a blockchain-agnostic infrastructure developed by Interstellar, designed to enable real-time peer-to-peer exchange of local African currencies. Built with permissioned blockchain technology, STARGATE is not only secure and scalable, it’s a game-changer for businesses, SMEs, and informal traders seeking to trade affordably and seamlessly across borders.
“This innovation by Interstellar goes to the heart of what SiBAN stands for, leveraging blockchain to solve real-world problems,” said Obinna Iwuno, President of SiBAN. “Their partnership with PAPSS and the creation of PACM is a bold demonstration of how Nigerian ingenuity is shaping global conversations on financial technology and inclusion.”
Why PACM Matters
Africa’s fragmented currency systems have long posed a challenge to seamless trade within the continent.
The PACM solves this by enabling direct local currency exchanges between 19 African countries, aligned with local financial regulations, and built on Interstellar’s Bantu blockchain network.
This not only slashes transaction costs but advances the goals of the African Continental Free Trade Area (AfCFTA).
By doing so, Interstellar is helping unlock a more connected and self-reliant Africa, one transaction at a time.
Blockchain as a Catalyst for Africa’s Economic Renaissance
The promise of blockchain lies in its power to decentralize, democratize, and digitize economies. Across sectors, from finance to governance, its applications are already disrupting inefficiencies and driving inclusion.
SiBAN’s members, including Interstellar, are using blockchain to power cross-border payments, supply chain visibility, digital identity, and more, creating tools for sustainable development.
“Blockchain is not just code, it’s change,” said Ernest Mbenkum, CEO of Interstellar. “Being part of SiBAN’s ecosystem gives us the strength to scale our innovations and contribute meaningfully to Africa’s economic revival.”
SiBAN’s Role in Building Nigeria’s Blockchain Backbone
As the foremost blockchain advocacy body in Nigeria, SiBAN continues to support startups and innovators through policy advocacy, ecosystem development, and education.
With members like Interstellar leading on the continental front, SiBAN’s impact is increasingly being felt across Africa.
Their goal? To make Nigeria a global blockchain powerhouse through innovation, regulation, and collaboration.
A Call to Visionary Action
SiBAN calls on government agencies, private sector players, and tech innovators to recognize blockchain as a strategic tool for national and continental progress. With the right policies and partnerships, Nigeria can not only lead in Africa but also shape global trends in blockchain adoption.
