According to News.bitcoin, the Pan African Payment and Settlement System (PAPSS), supported by 15 central banks, is piloting a currency platform so that countries can settle trade in local currencies. The platform, known as the African currency market, is scheduled to launch later this year, Reuters reported. The planned launch of the African currency platform is expected to help promote intra-African trade. The pilot and planned launch of the African currency platform coincides with the promotion of de-dollarization in some African countries. They believe that trading with USD, which is usually in short supply, will hinder trade. In 2023, Kenya President William Ruto, who has repeatedly called on African countries to de-dollarize, said the launch of PAPSS eliminated the need for the dollar when closing transactions.