ChainCatcher news, according to Bitcoin.com, the Pan-African Payment and Settlement System (PAPSS), supported by 15 central banks, is piloting a currency platform so that countries can settle trade using local currencies. According to Reuters, the platform is called the African Currency Market and is planned to launch later this year. The planned launch of the African Currency Platform is expected to help facilitate intra-African trade.The pilot and planned launch of the African Currency Platform coincide with some African countries advancing de-dollarization. They believe that trading in the usually scarce U.S. dollar hinders trade. In 2023, Kenyan President William Ruto, who has repeatedly called for de-dollarization among African nations, stated that the launch of PAPSS eliminates the need for the U.S. dollar in settling transactions.