The highly unbanked West African nation has allegedly enrolled around 500 people to use an alternative digital currency ‘Trest’ as their default payment method for almost month. The decision was taken to address the growing undercapitalization of Cameroon’s local banks and their inability to address a 90% of the unbanked population.
The government wanted to illustrate the feasibility of a peer-to-peer, decentralized alternative in order to assign entitlements and benefits directly. Trest is a Bitcoin like cryptocurrency, created by an Indian IT company Trestor.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright