Baki

Overview

Baki provides synthetic African stablecoins in a scalable manner to bring African currencies on-chain. Collateralized with USDC, Baki allows users to mint zUSD (US Dollar), zNGN (Nigerian Naira), zZAR (South African Rand) and zXAF (Central African CFA). zTokens can be swapped for one another without any slippage, providing infinite FX liquidity.

Agent Information

Regulatory Considerations

Based on our analysis, Baki operates in the infrastructure sector with medium regulatory risk. Key considerations for APAC jurisdictions:

• Hong Kong: Generally lower regulatory burden for infrastructure services
• Singapore: May fall under PSA exemptions
• Japan: Depends on specific functionality