🟠 Circle backs CV VC’s $20M African Blockchain Fund

Circle backs CV VC’s $20M African Blockchain Fund

Topline: Circle Ventures, the venture arm of USDC issuer Circle, has joined as a limited partner in CV VC’s $20 million African Blockchain Fund — a fund dedicated to backing early-stage blockchain startups across the continent. (Details)

The details: The announcement came from CV VC’s African principal, Brenton Naicker, who confirmed Circle’s support on LinkedIn.

• The exact size of Circle’s investment hasn’t been disclosed. The fund itself is designed to deploy $20 million into African startups over 8–10 years.
• CV VC combines funding with a nine-week global accelerator program, culminating in grants and investor exposure for participants.

Before now: CV VC launched its African Blockchain Fund in 2022 with a focus on early-stage investments starting at $100,000.

• Portfolio examples include Nigeria’s Ivorypay (cross-border payments) and Kenya’s Nyayomat (a blockchain-based credit system). Both also passed through CV VC’s accelerator.

The bigger picture: African blockchain startups raised just $122 million across 30 deals in 2023 — only 2.3% of global blockchain VC funding, according to CV VC’s annual report.

• That’s down from 2022 and reflects ongoing investor caution after the crypto bear market.
• Still, with Circle’s backing, CV VC could play an outsized role in bridging that funding gap and giving African Web3 startups a longer runway.

Experts call Nigeria’s crypto tax regime “progressive”

Topline: Last week, Mariblock, in partnership with the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), hosted two webinars to unpack Nigeria’s new cryptocurrency tax regime. (Details)

The conversations brought together legal experts, exchange operators, and compliance professionals to break down the new tax laws, raise concerns, and explore opportunities for the industry.

Recap on the tax framework: Signed into law in June, the Nigerian Tax Act and the Nigerian Tax Administration Act 2025 will formally bring crypto into the tax net from January 1, 2026.

• Individuals will only pay tax when they sell or exchange assets for profit, capped at 25% under personal income tax.
• Companies earning ₦25m–₦100m annually will pay a 20% corporate tax; those earning above ₦100m will pay a 30% corporate tax. All are also subject to 7.5% VAT on transaction fees.
• Exemptions are available for individuals earning less than ₦800k a year and businesses with a revenue of less than ₦25 million.

What came up during the webinars: Critics argued that taxing crypto goes against its decentralized nature and accused the government of trying to “reap where it did not sow,” given its history of restrictions on the sector.

• Chiemeka Ohajionu, partner at Atlas Legal Practitioners, described the law as “progressive” and noted that taxation is a standard part of any economy. The key, he said, is ensuring transparency in how the revenue is used.
• Tayo Omidiran, head of operations at KoinKoin exchange, said taxation could legitimize the sector and make it a stronger stakeholder in Nigeria’s economy. But he also flagged the need for clarity on the role of exchanges in tax reporting.

Compliance insights: Dr. Lawal Mohammed (Chainkeeping / Kaduna State IRS) explained how businesses can use financing and loans to reduce taxable income legally, a case of tax avoidance, not evasion.

• He also noted that while the law lacks crypto-specific incentives, benefits could come from regulators like the SEC or CBN in the form of targeted tax breaks for pioneers.

Call for Onchain Conference speakers:

Onchain Conference 2025 Africa’s blockchain future is being built — and we’re inviting the voices shaping it.

 The Onchain Conference, hosted by Mariblock with headline sponsor Busha, is Africa’s flagship event focused on the operational realities of building blockchain systems across the continent.

• We are now accepting speaker applications and nominations for thought leaders, founders, researchers, regulators, and ecosystem enablers who are driving meaningful change through blockchain and Web3 technologies.

What We’re Looking For?

We welcome speakers who can share:

• Case studies of real-world blockchain implementation in Africa.
• Insights on regulation, compliance, and policy frameworks.
• Innovations in DeFi, identity, infrastructure, and digital public goods.
• Cross-sector collaboration models between startups, governments, and institutions.
• Visionary perspectives on the future of onchain systems and inclusive tech.

Why Speak at Onchain Conference?

• Position yourself as a thought leader in Africa’s emerging blockchain ecosystem.
• Engage with 1,500+ attendees, including investors, regulators, developers, and founders.
• Connect with global and regional partners.
• Amplify your work through media features, podcast interviews, and post-event reports.
• Shape the narrative around Africa’s digital transformation and onchain future.

🗓️ Event Details

• Date: Nov 5th & 6th, 2025
• Location: Lagos, Nigeria
• Format: Keynotes, panels, fireside chats, workshops.

 📩 Apply or Nominate a Speaker. If you or someone you know is building, researching, or advocating for blockchain in Africa, we want to hear from you.

• Apply: https://tally.so/r/n0XlK0
• 📧 For inquiries: onchain.mariblock.com 
• Let’s build Africa’s onchain future — together.

📢 The Mariblock Onchain conference is coming!

Mariblock is launching the OnChain Conference, a new flagship event focused on Africa’s blockchain future.

• The inaugural edition will take place on November 5-6, 2025, at the Jewel Aeida in Lagos, in partnership with Busha.

This year’s theme, “The Next Wave,” will explore stablecoins, payments, FX, tokenized real-world assets, regulation, blockchain use cases, and the continent’s growing talent pipeline.

• Visit onchain.mariblock.com to get your tickets.

Catch up

🌍 Crypto’s real boom is happening in Argentina, Nigeria, and the Philippines (Cointelegraph)

🇬🇭 Binance Sponsors Africa Fintech Summit Accra (AMA)

🇳🇬 South Africa’s Kganyago Says ‘Dangerous’ World Needs Regulation (Bloomberg)

That’s all for this week!

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Till next week,

Ogechi.