Baki

Baki was launched by Canza Finance to provide synthetic African stablecoins in a scalable manner, bringing African currencies onto the blockchain. Baki uses USDC as collateral, allowing users to mint zUSD (US dollars), zNGN (Nigerian naira), zZAR (South African rand), and zXAF (Central African CFA franc). The zTokens can be exchanged for each other without any slippage, thereby providing unlimited foreign exchange liquidity.