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Morocco To Widen Access To Financial Services With Blockchain

Morocco is looking to expand access to financial services through the integration of blockchain technology in the country’s financial sector.

The country’s central bank governor, Abdellatif Jouahri, spoke at the Africa Blockchain Summit in Morocco’s capital of Rabat saying that Morocco will deploy financial technology to enhance access to financial services as reported on Nov. 21 by the Morocco World News.

Reaching Out For The Unbanked

Jouahri further added that the application of fintech and blockchain technologies would help Morocco to achieve its goal to provide “all individuals and businesses a fair access to formal financial products and services […] in order to promote economic and social inclusion.” Jouahri said:

“Blockchain is by far the most disruptive technology of this decade.”

The central bank of Morocco is primarily intending to create lower-cost models to bring financial services to underserved citizens while developing favorable conditions for non-cash transactions and settlement.

Recently, Opera web browser’s, Africa Fintech startup OPay sealed $120 million in a Series B financing round from a host of high-profile Chinese investors. OPay reportedly intends to use the new Series B $120 million round to scale and extend its digital payments solution beyond Nigeria to Kenya, Ghana, and South Africa.

Source: Moroccos World News | Cointelegraph

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