Africa
How to Leverage FinTech Opportunities in Africa
Insights from Paxful on FinTech opportunities in Africa!
Africa Crypto Adoption Sparks Regulation Concerns
The accelerated growth of blockchain technology in Africa recently has raised concerns over the possible implementation of knee-jerk regulation.
South Africa Pioneers Blockchain-Enabled Property Register Pilot Project
The Centre for Affordable Housing Finance in Africa (CAHF) has teamed up with Seso Global, a blockchain property registry company, to develop the first-ever blockchain-powered property register in South Africa.
BLOCKCHAIN AFRICA CONFERENCE INVITES INDUSTRY TRAILBLAZERS
Place your brand at the epicentre of African blockchain technology and AI by showcasing your brand through speaking, sponsoring and exhibiting opportunities at the Blockchain Africa Conference 2020. We attract 600+ key stakeholders and media across the African and global blockchain ecosystem, creating the ideal opportunity to communicate your brand, products and services.
Making a Difference in Africa: Paxful Unveils Bitcoin Donation Fund to Overcome Coronavirus Pandemic
Paxful aims to provide support in Africa to address the coronavirus outbreak.
Cryptocurrency Giving People in Africa the Power Against Rising Inflation
Despite being a driving force behind several innovations across the globe, cryptocurrency continues to make its mark in Africa. Based on recent breaking news, let’s see how cryptocurrency gives Africans a hedge against inflation.
Bitcoin Access in East Africa Boosted by Paxful
Paxful a Bitcoin peer-to-peer platform seeks to propel Bitcoin Access in East Africa by educating the populace about Bitcoin and peer-to-peer financing.
United Africa Blockchain Association Cries Foul of FNB’s Crypto Termination
The United Africa Blockchain Association (UABA) has lamented the decision by First National Bank (FNB) to terminate its banking services to crypto exchanges, as well as intermediaries trading in cryptocurrencies.
Unclear Crypto Regulations in South Africa Alarm Entrepreneurs
Cryptocurrency regulation is still largely unclear in South Africa, creating a strenuous business environment for crypto entrepreneurs.
Combating Deforestation with Blockchain in Africa: Everything You Need to Know
Have you ever thought of how blockchain can fight deforestation? Surprisingly, this application works. MIPAD startup demonstrates how blockchain is useful in tackling the deforestation crisis in Africa.
The Blockchain Africa Conference 2020 is Moving Beyond the Hype
Africa's leading Blockchain conference will bring together hundreds of attendees from around the globe to discuss the future and convergence of blockchain technology and AI and how these technologies are addressing urgent challenges in Africa.
Exclusive: Bitcoin - The Killer App in Africa and Latin America?
We are glad to have an in-depth interview with Ray, CEO of Paxful on Paxful’s strategies into Africa and Latin America. He also explained the biggest challenge in driving Bitcoin adoption: how to deal with scammers!
South African Reserve Bank to Strictly Regulate Cryptocurrency in 2020
The South African Reserve Bank (SARB) is planning on introducing new regulations on cryptocurrency, which according to Kuben Naidoo, SARB deputy governor, will be fully implemented and enforced in the first quarter of 2020 and it brings to an end a deliberation that started since 2014.
Central African Regional Bank Seeks to Introduce Common Digital Currency
The Bank of Central African States is considering creating a common Central Bank Digital Currency (CBDC) that would serve its six member states.
$3.6B Worth Bitcoins Scam, Founders of South African Crypto Exchange Africrypt Are Missing
The total value of $3.6 billion Bitcoins disappeared while the founders of South African cryptocurrency exchange AfriCrypt are missing.
Ripple and Onafriq Forge Alliance for Blockchain-Enabled Payments in Africa
Ripple and Onafriq are collaborating to introduce blockchain-powered cross-border payments, aiming to improve transaction efficiency and financial inclusion in Africa, the GCC, the UK, and Australia.
The Bank of Ghana Cooperates with German Giesecke+Devrient to Conduct its CBDC Pilot
The Bank of Ghana has launched cooperation with Giesecke+Devrient to conduct a pilot project for its Central Bank Digital Currency (CBDC) in West Africa Ghana.
Lemonade to Offer Blockchain-Powered Climate Insurance for Farmers in Emerging Markets
American insurance company Lemonade has revealed the formation of Lemonade Crypto Climate Coalition which will offer blockchain-enabled climate insurance to the most vulnerable farmers across the globe.
Central African Republic Top Court Blocks Purchases with New Crypto
The High Court of the Central African Republic has ruled that using govt-backed crypto to buy “e-residency” or citizenship and land goes against the country’s constitution.
South African Exchange VALR Raises $50M Series B, Embrace the Largest Funding Round in Africa
Johannesburg, South Africa-based crypto exchange VALR, has secured a $50 million (over 750 million Rand) Series B round led by Pantera Capital.
Binance Rolls Out Crypto Education Tour in 5 French-Speaking African Nations
To propel blockchain adoption and financial accessibility on African soil, crypto exchange Binance has launched a crypto education tour in five french-speaking countries.
Crypto Adoption in Sub-Saharan Africa Rises, Study Shows
Many young people in Sub-Saharan Africa are taking the cryptocurrency route to build and preserve wealth despite low economic opportunities.
Crypto Exchange FTX Expands Business to Africa, Partnering Kenyan Fintech Firm AZA Finance
To expand its global footprint and presence on African soil, top-notch cryptocurrency exchange FTX has partnered with AZA Finance, a Kenyan-based fintech company.
Africa Records the Largest Bitcoin P2P Volume Growth
Africa continues to stamp its authority in the crypto space based on the significant Bitcoin peer-to-peer volume growth witnessed in the continent.
Unstoppable Women of Web3 Leads Initiative to Provide Web3 and Metaverse Education for 6 Million African Women
The initiative will consist of free digital identities, educational streams, online courses, in-person networking, and more to bring more women in Africa into Web3 and the metaverse
Central African Republic to Launch Sango Coin Cryptocurrency Next Week
The latest move by the Central African Republic comes after it adopted Bitcoin as legal tender in April. The African country plans to adopt cryptocurrency to revitalize its economy.
Pan-African Crypto Exchange Yellow Card raises $40M in Series B Funding Round
The round was led by Polychain Capital. The significance of the funding raise, especially in the ongoing market downturn, reflects the level of business confidence expressed by new and existing investors.
Akon’s Plans for a Futuristic Crypto City in Senegal Progresses with a $6B Construction Contract
American-Senegalese music icon Akon announced plans to build a cryptocurrency city that would revolutionize the developing economic landscape in Africa.
NEAR Foundation Sets Up a Regional Hub in Kenya, Boosting Blockchain Innovation in Africa
NEAR Foundation has launched a regional hub in Kenya in collaboration with Sankore, an African-focused blockchain community, to trigger talent development, education, and blockchain innovation on African soil.
Swiss Crypto Firm Launches Venture Fund, Supporting African Early-Stage Blockchain Startups
Crypto Valley Venture Capital's venture fund will offer early-stage financing to African blockchain startups that have the potential to benefit humanity.
Central African Republic Adopts Bitcoin as Legal Tender, Second Country Following El Salvador
Central African Republic (CAR) has officially adopted Bitcoin (BTC) as a legal tender in the country, following in the footsteps of El Salvador in Central America.
Africa Blockchain University Partners with YIELD App to Enhance NFT Education
African artists are set to be enriched about the value they can get from the booming non-fungible tokens sector.
Bundle Africa Stops Exchange Services
Bundle Africa is discontinuing its exchange services to focus on Cashlink, a Web3 payment solution. Users are advised to withdraw funds by September 10, 2023. The shift reflects the growing needs of the blockchain community.
Sub-Saharan Africa Dethrones Northern America as the Top Bitcoin Adoption Spot
Sub-Saharan Africa has been the top Bitcoin adoption spot for 181 consecutive weeks after edging out Northern America, as revealed by Arcane Research.
Binance Launches Referral Promotion for African Users with 17,500 USDT in Token Voucher Rewards
Binance is launching a new referral scheme targeting users in the Africa region, offering a reward pool of 17,500 USDT in token vouchers. The promotion runs from September 18 to October 2, 2023, and requires users to register and complete KYC within the promotion timeframe. The rewards will be distributed within 20 days post-promotion.
Multi-Grammy Winning Singer Akon Planned to Launch Akoin on Stella Network
More updates on Akoincity as Akon’s cryptocurrency project will be available on a newly release whitepaper. Akoin will be launched on Stella Lumens (XLM). Will this trigger massive cryptocurrency adoption in Africa?
Mina Stones to Propel Ethical Mining in Africa via Credits Blockchain
Mina Stones, a pioneer of Handcrafted African Fine Jewelry, seeks to avert the unethical mining problem in Africa by using Credits blockchain to alter the present gemstones supply chain.
South Africa Classifies Crypto as Financial Assets
The country appears to be developing regulations consistent with those being developed by other regulators in the global market.
Blockchain Adoption Wins Center Stage in Africa
Blockchain technology is continuously reigning supreme across the globe based on the distributed ledger network it avails, making transparency, immutability, and traceability inevitable.
Google Web Searches for Bitcoin Hit a Historic Low with Nigeria Still Leading
The Global web search data from Google Trends indicate that there has been a decline in recent times as it has recorded an all-time low since October 2018. Even in the midst of the activities going on in the global scene we see that some African countries have been leading with Nigeria recorded as the country with the highest level of Bitcoin searches, followed by South Africa and Ghana respectively.
CBN Approves Africa Stablecoin Consortium's cNGN for Regulatory Sandbox Pilot
CBN approves ASC's cNGN stablecoin, a regulated digital currency pegged to the Naira, launching on Feb 27, 2024.
Gamers in Africa Can Earn Bitcoin While Playing Classic Titles
Zebedee has partnered with Bitnob to allow African gamers to earn Bitcoin while playing classic games such as Counter-Strike. The Bitcoin Lightning Network will allow game developers to replace in-game points with Bitcoin, which can then be converted to local currencies.
South Africa Sets Year-End Licensing Deadline for Crypto Exchanges
According to Bloomberg, South Africa has mandated that all crypto exchanges operating within its borders must secure licenses by the end of the year. The Financial Sector Conduct Authority (FSCA), the country's financial regulator, has already received approximately 20 applications since the licensing process was initiated a few weeks ago.
South African Supermarket Chain Pick n Pay Starts Accepting Bitcoin Payments
The development of Pick n Pay means that South African shoppers can now purchase food and other goods online with Bitcoins.
Bitcoin in Africa: Cryptocurrency and P2P Bitcoin Trade Surge Across the African Continent
Cryptocurrency adoption and peer-to-peer Bitcoin transactions are on the rise across the African continent. There have been significant advances across Africa for crypto adoption in terms of regulation, trade volume and reported cryptocurrency ownership.
Central African Republic Begins Sales of Sango Coin
The Central African Republic (CAR) launched its national digital currency tokens called “Sango Coin,” but sales have been quite lower than expected.
Central African Republic Launches National Crypto Hub Project Sango
The Central African Republic (CAR) has doubled down on its plans to embrace the technology underpinning Bitcoin with the recent launch of Project Sango, a National crypto hub.
Bitcoin and Other Cryptocurrency Trading Now Declared Illegal in Burundi
Burundi has banned Bitcoin and every other form of digital trading from its soil because it can no longer offer protection to persons with problems related to it.
SARB to Introduce Crypto Regulation
South Africa has changed their mind in terms of crypto regulation. The regulator intends to introduce a legal framework to govern the use of cryptocurrencies in the country.
Cardano Working With SA Blockchain Alliance to Free African Enterprise from Politically Entrenched Legacy Banking Systems
The Cardano Foundation has partnered with the South African National Blockchain Alliance (SANBA) in a bid to expand blockchain adoption and bring financial inclusion to the country of 59 million.
LocalBitcoins Clocks 300,000 Mobile App Downloads, With Africa Making a Mark
Two months after reaching 200,000 mobile app downloads on iOS and Android, LocalBitcoins has scaled the heights by crossing the 300,000 mark.
Shapella Upgrade, Privacy Concerns, Hacks, and Financial Inclusion
The DeFi space had a busy week with the successful completion of the Shapella upgrade on Ethereum, concerns over privacy related to staking, a major DeFi hack, and a partnership between Fonbnk and Tanda to increase financial inclusion in Africa. The top 100 DeFi tokens had a bullish week, and Glassnode predicted only a small percentage of staked ETH would be withdrawn.
Binance Provides Blockchain Education to Francophone Africa, Narrowing the Financial Gap
To offer lifelong financial and career development to French-speaking Africans, leading crypto exchange Binance is offering blockchain education in Cameroon and Francophone Africa.
Celo Launches Web3 Africa Fund to Support Blockchain Startups
Celo, a mobile phone-focused blockchain platform, launched the Celo Web3 Africa Fund with the goal of supporting 250 projects in the development of African projects.
South Africa's Monetary Authority Ask Banks to Work with Crypto Exchanges
South Africa’s Central Bank has released new guidelines stating that banks in the country may act as a channel for funds tied to crypto asset service providers.
Bitcoin Adoption in Africa Sees Massive Surge as P2P Volumes Hit All-Time Highs
Crypto analyst Kevin Rooke has revealed that Bitcoin is having a field day as peer to peer (P2P) volumes are hitting all-time highs (ATHs) as a 2.5-fold surge has been experienced since March. Some of the African nations leading the pack include Kenya, South Africa, Nigeria, and Ghana, as the Bitcoin being traded weekly has exceeded $1 million.
Why is Nigeria Africa’s Biggest Crypto Hotspot Even Though it Doesn't Even Have a Bitcoin ATM?
Nigeria is the biggest crypto market in Africa, but based on official records it does not have a functional Bitcoin ATM. WeeTracker reported on Jan 27 that this trend is noted in Nigeria despite it backing the first stablecoin project in the continent using its currency the Naira.
Nigeria Eyes New Regulatory Framework to Boost Crypto and Blockchain Adoption
Nigeria’s Ministry of Finance is collaborating with the nation’s capital market watchdog, to provide a new regulatory environment for the blockchain and crypto space.
CBN is continuing to develop its eNaira
R3, the CBN's possible technology partner, will help design a new system to give the CBN complete authority over the CBDC.
SARB governor: CBDCs must tackle a "serious challenge" at WEF 2023.
Lesetja Kganyago spoke at WEF 2023 in Davos, Switzerland. The SARB governor suggested a national discussion before establishing CBDCs. Crypto barely fits two of three currency standards, he said.
Four Countries to Conduct Cross Border CBDC Payment Trials
The Bank for International Settlements (BIS) has joined forces with the central banks of South Africa, Malaysia, Singapore, and Australia to kick start a project dubbed Dunbar aimed at testing the use CBDCs in cross border payments.
BitMEX Invests in South Africa’s Largest Bitcoin Exchange
In a bold financial move, the parent company of BitMEX cryptocurrency exchange has decided to invest in a South Africa’s biggest Bitcoin exchange, VALR.
7 Steps in Luno: How to Convert Your USD to Nigerian Naira Using Bitcoin
This newly found interest also explains the recent increase in the number of exchange platforms that have been springing up to meet this growing demand for liquidity within this space. Some platforms where Nigerians can receive funds in dollars or Bitcoin and convert to Naira has been seen as a way out of the too many constraints fiat presents.
New clause in South Africa's advertising code for cryptocurrency
South Africa's Advertising Regulatory Board now covers cryptocurrencies. Ads must "expressly and plainly" warn investors of money loss. They must also provide balanced information on product returns, features, advantages, and dangers.
As crypto grows across Africa, IMF asks for greater regulation
IMF wants to regulate Africa's crypto marketplaces. Cryptocurrency is a booming market. 25% of sub-Saharan African nations have explicitly regulated crypto, while 2/3 have prohibitions.
Jay-Z and Jack Dorsey to Fund Bitcoin Development in Africa and India with $24.5M
To enable the penetration and adoption of Bitcoin on African and Indian soils, Jay-Z and Jack Dorsey are to give away $24.5 million in BTC.
Mara Raises $23 Million from Coinbase, Alameda to Drive Crypto across Africa
The new funding will enable Mara to expand the reach of its cryptocurrency platform across the continent.
Sango Coin Listing Delayed in Central African Republic
The launch of the Central African Republic's Sango Coin has been postponed for a few weeks due to legal and regulatory obstacles. The Sango Project, which is behind the initiative, stated that the delay is necessary to ensure compliance with all relevant regulations.
BIS analysis reveals unequal CBDC uptake in Africa
CBDC helps African central banks implement monetary policy. A CBDC would save money on banknotes, transportation, and storage. Sub-Saharan Africa sends two-thirds of the world's money.
Kenya’s Bitcoin Trading Volumes Hit $45.95 Million in 2020, Second Highest in Africa
Kenya’s Bitcoin (BTC) trading volumes skyrocketed by 472 percent in 2020 to stand at $45.95 million (Ksh 5.1 billion).
Kenyan Central Bank Seeks Public Opinion concerning CBDC
As a change of tune about crypto assets, the Central Bank of Kenya (CBK), Kenya’s apex bank, seeks to know the public's view about the potential introduction of CBDC.
African Blockchain Ventures See Explosive Growth
African blockchain ventures experienced a 429% increase in funding, surpassing the global average of 4%. Seychelles and South Africa accounted for 81% of the funding, and Nigeria had the highest number of deals but only accounted for 3.4% of funding. Median deal size has significantly increased, indicating growing investor confidence.
South African Regulator to Unveil Consumer Protection Regulations in Early 2022
The South African Financial Sector Conduct Authority is on track to unveil an encompassing regulatory framework that is targeted at protecting consumers from scams emanating from the digital currency ecosystem.
Africa Web3 Gaming Publisher Carry1st Raises $27M
Carry1st raised $27 million to expand its African publishing and digital content development platform. The additional money will enhance Pay1st's monetization-as-a-service platform. Africa is a fast-growing digital asset market.
Central African Bank Regulator Announces Nationwide Crypto Ban
The Central Bank’s latest move in Central Republic Africa is contrary to the government’s announcement that Bitcoin is a legal tender in the nation.