Blockfinex, an international cryptocurrency exchange founded by Nigerian tech entrepreneur Danny Oyekan, has unveiled its cryptocurrency, DollarCoin.
The new digital currency is designed to provide a stable and accessible financial tool for individuals and businesses in emerging markets struggling with inflation, currency devaluation, and limited access to global financial systems.
According to Blockfinex, DollarCoin aims to offer users a fast, low-cost, and reliable medium for everyday transactions, remittances, and digital payments, especially in economies where local currencies, such as the Nigerian naira, face persistent instability.
“Users don’t just need crypto; they need stability, speed, and accessibility,” said Danny Oyekan, CEO of Blockfinex. “DollarCoin is our answer to that call.”
The platform highlights several benefits of the new stablecoin, including predictable value backed by U.S. dollar reserves, near-instant cross-border transactions, and broader financial accessibility. The coin is set to roll out further across savings platforms, e-commerce systems, and international payment services.
Unlike some algorithmic or uncollateralised tokens, DollarCoin is fully backed by fiat reserves and operates under a U.S. money transmitter license. Blockfinex says it will publish regular transparency reports on its reserves to ensure accountability and build trust with users and regulators.
The company also plans to integrate DollarCoin into merchant payment gateways, mobile wallets, and decentralised finance platforms across Africa and other underserved regions.
“DollarCoin is not just a currency; it’s a tool for empowerment,” Oyekan added.
“It gives Africans a fair chance in a global financial system that has often excluded them.”
The launch reinforces Blockfinex’s mission to expand financial inclusion and provide secure, borderless digital payment solutions tailored to the needs of emerging markets.