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Farmers are increasingly turning to stablecoins to facilitate cross-border payments, streamline operations, and gain access to global markets.<\/p>\n
Opinion by: Henry Duckworth, founder and CEO of AgriDex<\/strong><\/em><\/p>\n We all need and buy it. Food is a common, universal ground across the planet. It should come as no surprise then that the agricultural industry is enormous. In 2023, the European Union alone imported<\/a> 154 million tonnes of agricultural products and exported 134 million tonnes more. The market is growing too, projected<\/a> to expand by 3.45% annually from this year to reach $5.52 trillion by 2029.\u00a0<\/p>\n Yet, farmers and agricultural traders are confronted with a serious problem. They need to export food abroad and interact with foreign currencies. The financial system \u2014 particularly in Africa \u2014 is, however, underdeveloped. Inefficiencies in their trade result in high transaction costs, delayed cross-border payments, and high interest rates for loans. Large corporations can better navigate financial hurdles, but this isn\u2019t always the case for small farmers, who suffer the most from outdated banking systems.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n