Mariblock Weekly

🟠 M-Pesa meets blockchain

Plus: 🇬🇭 Ghana brings crypto into its regulatory perimeter with a new VASP law; 🇿🇦 South Africa’s central bank says CBDCs matter — just not right now

Welcome to Mariblock Weekly — the final edition of the year and the last in its current form, as Mariblock enters a broader transition.

In the weeks ahead, we’ll be activating Mariblock 2.0 — the next phase of our work. We’ve shared a brief statement outlining what this phase represents and why it matters. You can read it here.

As part of this next phase, we’re also opening a small Founding Partners cohort for organizations aligned with Mariblock’s long-term direction and role in shaping understanding on blockchain’s economic relevance in Africa.

Explore our Founding Partners program.

M-Pesa in talks to integrate UAE-backed blockchain infrastructure

Residents use M-pesa services at a local kiosk in Kibera slum, Nairobi, Kenya. — Residents use M-Pesa services at a local kiosk in Kibera slum, Nairobi, Kenya. **Source**: IMF/Flickr

Topline: An Abu Dhabi–backed blockchain project is moving to embed itself into Africa’s financial infrastructure through a planned integration with M-Pesa, the continent’s dominant mobile money platform, Semafor reports.

The details: The partnership would place blockchain directly inside payment systems already used daily by tens of millions of Africans, sidestepping the adoption hurdles that have slowed crypto-native products.

The project, ADI Chain, is backed by the ADI Foundation, which is supported by the digital arm of a $240 billion UAE conglomerate chaired by the brother of the country’s president.
Executives involved told Semafor that Africa is expected to account for a large share of the users targeted as part of the foundation’s goal to bring one billion people onto its blockchain by 2030.
A memorandum of understanding with M-Pesa signed this month is intended to support that expansion, with plans also underway to launch a stablecoin on the network in early 2026 to facilitate international payments and other digital services.

Zoom out: The move fits a wider trend of African fintech firms expanding into blockchain infrastructure, often by layering the technology onto established payment systems rather than building parallel systems from scratch.

Last October, Nigeria’s Flutterwave announced it would use Polygon, an Ethereum layer-2 network, to let users send and receive stablecoins across borders

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Ghana passes law to regulate crypto and its service providers

Ghana’s Parliament chamber, where lawmakers approved the Virtual Asset Service Providers Bill. **Credit**: Parliament of Ghana.

Topline: Ghana has formally moved to regulate cryptocurrency activity after Parliament passed the Virtual Asset Service Providers Bill, bringing digital assets and service providers under legal oversight for the first time. (Details)

Quick facts: Once the law takes effect, virtual asset service providers will be required to obtain licences or register with either the central bank or the Securities and Exchange Commission, depending on the nature of their activities.

Once the law takes effect, virtual asset service providers will be required to obtain licences or register with either the central bank or the Securities and Exchange Commission, depending on the nature of their activities.
The move represents a clear break from Ghana’s previously cautious stance.
Authorities had long warned that cryptocurrencies were not recognised by law and discouraged regulated financial institutions from engaging with the sector, even as usage continued to grow.

CBDCs are useful but are not an immediate priority — SARB

Topline: South Africa’s Reserve Bank says retail CBDCs could address payment system gaps but won’t pursue one for now, choosing instead to focus on existing digital payment initiatives. (Details)

Quick facts: In a recent paper, the bank said CBDCs could improve financial inclusion and make payments faster.

It also positioned CBDCs as a hedge, helping central banks retain monetary control as crypto use expands.
Still, SARB underscored that cash remains king, especially among the unbanked and in areas with weak digital infrastructure.

Why the pause? The bank is already deep into other efforts to modernize how money moves.

Priority projects include a new National Payment System bill, Project Stimela, and PayShap, the instant transfer service launched in 2023.
SARB’s view is that these initiatives can fix many of today’s payment frictions, making a CBDC less pressing.

The concerns: Beyond timing, SARB has real doubts about whether a CBDC can replace cash anytime soon.

Any retail CBDC would need to work offline, be widely accepted by merchants, feel simple to use, and offer meaningful privacy, even if full anonymity is off the table.
The bank also noted there are still a few global success stories to learn from, reinforcing its wait-and-see approach.