Afreum Stable Tokens

Afreum Stable Tokens are fiat currency-pegged Stellar assets that can always be acquired with, or redeemed for Circle USDC, at prevailing exchange rates. USDC reserves are held in a special publically auditable Reserve Wallet and are never used for anything except Stable Token minting and redemption. This mechanism allows individuals, businesses, and organizations to easily on-ramp and off-ramp into the Afreum ecosystem (including Afreum Save, Afreum Pay and Afreum Cash), the Stellar blockchain, and crypto in general, with local currency.

To facilitate easy onboarding, as well as local currency-equivalent payments and remittances, Afreum has tokenized fiat currencies for every country. You can MINT fiat tokens with Circle USDC, and REDEEM fiat tokens for Circle USDC at current exchange rates at any time. The underlying tokens on the blockchain are in the format S (for stable) plus the three-letter currency code. E.g. the underlying token for Nigerian Naira or NGN (₦) is SNGN