On March 15, News.bitcoin reported that the Pan-African Payment and Settlement System (PAPSS), supported by 15 central banks, is piloting a currency platform so that countries can use local currencies to settle trade. According to Reuters, the platform, known as the African Money Market, is scheduled to launch later this year. The planned launch of the African Currency Platform is expected to help boost intra-African trade. The pilot and planned launch of the African Currency Platform coincides with the push for dollarization by some African countries. They argue that trading in dollars, which are usually in short supply, hinders trade. In 2023, Kenyan President William Ruto, who has repeatedly called on African countries to de-dollarize, said that the launch of PAPSS eliminated the need for U.S. dollars when settling transactions.