Businessman Andile Ngcaba becomes latest top executive seeking to capitalise on emergence of central bank digital currencies. CBDCs ConvergencePartners 42Markets
He believes 42Markets is well-positioned to tap into the CBDC market, as Convergence Partners looks to expand its fintech portfolio across the African continent.
“They have deep expertise in business process technology, in particular financial and capital markets. I don’t have to emphasise the issue of financial inclusion in the African context. It’s something that is part and parcel of SDGs [sustainable development goals]. This included electronic legal tender for general-purpose retail use, which is complementary to cash.
“If you look at your own life, literally everything, or about 60%, of everything you do is online. From an entertainment point of view, professional level point of view, and for basic services that you need – it happens online. “We are now moving fully into the digital space, whereby your entire being can move into digital currencies. If you look at capital markets, you have equities and bonds, etc. Today, there is debate about the digital asset class, as one of the classes that should be considered.
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