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Stellar Partners with Fonbnk to Transform SIM Cards into Virtual Debit Cards—XLM to Drive Financial Inclusion in Africa

Stellar Partners with Fonbnk to Transform SIM Cards into Virtual Debit Cards—XLM to Drive Financial Inclusion in Africa
Fonbnk, a fintech company, is addressing the financial accessibility gap in Africa by turning prepaid SIM cards into digital debit cards. With 350 million people being unbanked in Africa and only 20% of families using formal banks, Fonbnk’s solution aims to provide financial services to those who are currently excluded. By integrating the Stellar blockchain, users can redeem airtime for USDC and access a range of financial services. Fonbnk already has over 8 billion active prepaid SIM cards worldwide, allowing users to engage in the digital economy. The CEO of Fonbnk sees their solution as a way to help billions join the digital financial world. In other news, technical analysis suggests that Stellar Lumens (XLM) may experience a potential revival in the near future, with a falling wedge pattern indicating a potential breakout that could lead to a target of $0.500. Fibonacci Retracement levels and the RSI also support the prediction of a rebound in January.

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