Blockfinex, a global cryptocurrency exchange founded by Nigerian tech entrepreneur Danny Oyekan, has launched DollarCoin (USDR), a stablecoin pegged 1:1 to the U.S. Dollar and regulated under a U.S. money transmitter license.
The launch aims squarely at users in emerging markets, particularly across Africa, who struggle with inflation, local currency devaluation, and limited access to reliable financial infrastructure.
The strategic vision by Blockfinex
According to Oyekan, Blockfinex hopes to offer everyday users and businesses a more reliable medium of exchange.
DollarCoin is not just another digital currency in a crowded crypto market; it is purpose-built to act as a lifeline for millions living in volatile economic conditions.
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By providing a stable, predictable alternative to rapidly depreciating local currencies like the Nigerian naira,
“DollarCoin is not just a currency; it’s a tool for empowerment,” said Blockfinex CEO Danny Oyekan. “It gives Africans a fair chance in a global financial system that has often excluded them.”
Unlike algorithmic or uncollateralised stablecoins, DollarCoin is fully backed by U.S. Dollar reserves. The company has emphasised publishing regular reserve transparency reports to enhance accountability and build trust among users and regulators.
The company further says DollarCoin is designed with many use cases in mind, from facilitating low-cost remittances and protecting savings against inflation, to supporting freelance payments and enabling chargeback-free digital commerce.
“Users don’t just need crypto; they need stability, speed, and accessibility,” Oyekan added. “DollarCoin is our answer to that call.”
Meanwhile, Blockfinex’s launch of DollarCoin is part of a broader strategy to bridge traditional finance with the expanding Web3 ecosystem in Africa and other underserved regions.
Users can buy, sell, and trade DollarCoin via Blockfinex’s exchange platform. Plans are underway to integrate the stablecoin into more everyday financial tools, including mobile wallets, merchant gateways, and decentralised finance (DeFi) platforms, which include remittances, savings, freelancing, and e-commerce.
As a result, the platform positions its new offering as more than just another crypto token but as a digital solution to the long-standing problems of economic exclusion and unreliable currency infrastructure in developing nations.
About Blockfinex
Established by Danny Oyekan, Blockfinex is a digital asset platform providing secure trading infrastructure, token issuance, and Web3 tools for emerging markets.
With a mission rooted in financial inclusion, the platform is committed to building secure, fast, and borderless payment solutions tailored to the needs of underserved economies.
From launching a new stablecoin to its continued focus on transparent, regulated operations, Blockfinex is carving out its place as a key fintech innovator for Africa and beyond.