Latest

Circle selects five African projects in latest USDC grants round

The cohort marks Africa’s strongest showing yet — and comes as ecosystem grants increasingly serve as early-stage capital for blockchain startups navigating a tougher post-FTX funding climate.

31% of Kenyan banks are warming up to crypto — CBK

According to the CBK, banks highlighted that crypto and NFTs offer alternative avenues for payments and investments, with the potential to boost transaction speed and lower costs.

🟠 Uber eyes stablecoins for cheaper global payments

Plus: 🌍 Big on wallets, light on volume: Africa’s crypto paradox; 🌍 UK-based crypto exchange Blockchain.com to expand into Africa; 🇨🇫 CAR to tokenize 1,700 hectares of land using meme coin

Blockradar wins Crypto Valley Startup Competition 2025

The company stood out among 11 international crypto startups, securing $1.2 million in soft commitment funding along with additional prizes.

Sidebar: Coinbase’s four-step plan for African builders

Damilare Aregbesola, Coinbase’s new West Africa lead, wants to help African builders go beyond hackathons — unlocking funding, mentorship and real distribution paths to global success.

CAR to tokenize 1,700 hectares of land using meme coin

Touadéra announced that over 1,700 hectares of land in the region will be tokenized through the controversial Solana-based meme coin CAR.

🟠 PwC advises Kenyan crypto firms on tax lobby

Plus: 🌍 Stripe goes global with stablecoins but skips Africa’s big four 🇳🇬 Crypto is legal in Nigeria — until the bank disagrees

UK-based crypto exchange Blockchain.com to expand into Africa

Blockchain.com has already began the process to set up a physical space in Nigeria while it looks to secure licenses in three other countries as well.

Big on wallets, light on volume: Africa’s crypto paradox

Africa is seeing high crypto wallet adoption, but actual usage and value remain limited. Experts say economic realities, short-term utility and product gaps help explain the disconnect.

Crypto is legal in Nigeria — until the bank disagrees

Nigerian banks continue to flag accounts interacting with cryptocurrencies; arrests haven’t stopped, and confusion persists over what the law actually changed.

PwC lends weight to crypto lobby against Kenya’s digital asset tax

The coalition is pushing to scrap Kenya’s now-revised 1.5% crypto transfer tax, calling it unfair, innovation-stifling, and out of step with global norms.

Stripe goes global with stablecoins — but skips Africa’s big four

Previously, Stripe could only serve 46 countries. Now, the firm’s product is available in more than 100 countries excluding Africa’s big four.

🟠 Nigeria plans new blockchain policy. Again.

Plus: 🌍 Btrust grants $1M to ten Bitcoin-focused events and developer education programs; 🇰🇪 VACC hosts crypto training session for Kenyan lawmakers

South African court rules that crypto is not subject to exchange control regulations

According to Judge M. P Motha, crypto is not money, and the scope of current regulations do not define crypto as capital.

Sidebar: Why Africa needs its own stablecoins — Paycrest Co-founder

From Naira-backed cNGN to emerging tokens across Africa, Amadi explains how these assets, if regulated and widely accepted, could enable fast, legal, and dollar-free transactions across borders.

VACC hosts crypto training session for Kenyan lawmakers

The training session, supported by Binance, looked to help the regulators gain hands-on experience on the workings of digital assets before passing regulations.

Quidax’s CEO Okoro appeals for global collaboration to grow Africa’s crypto ecosystem

Okoro, who spoke at Coindesk’s Consensus 2025, said Africa’s crypto potential will remain locked unless global stakeholders partner with local ones.

Nigeria plans to develop new blockchain policy, again

Two years ago, the country launched a blockchain policy, which it has not implemented yet. Now, it is ditching the document in favor of a new policy.

Btrust grants $1M to ten Bitcoin-focused events and developer education programs

The Jack Dorsey-founded nonprofit awarded these grants to four African Bitcoin events and conferences of the ten beneficiaries.

🟠 50th Mariblock Weekly 🎉

Plus: 🌍 One big thing: 90% of institutional players involved with stablecoins; 🌍 Mastercard to enable stablecoin card transactions with Moonpay partnership;📱 MiniPay now available as a standalone app on iOS devices

Mastercard to enable stablecoin card transactions with Moonpay partnership

Holders of Mastercard-issued cards will be able to conduct transactions directly with their stablecoin balances

MiniPay now available as a standalone app on iOS devices

The stablecoin wallet app wants to expand access to more users globally

Egypt-based football club Al Ahly joins FIFA’s NFT marketplace

Al Ahly Football Club becomes the first African football club to join FIFA Collect

Zimbabwe launches blockchain-based carbon credits trading registry

The country wants to establish trust by making all transactions immutable and transparent.

🟠 Stablecoins surpass Visa in global payment volume

Plus: 🇳🇬 Nigerian fintechs embrace blockchain for POS payments 🇳🇬 Zap Africa is rebuilding crypto trust in Nigeria — while fighting to protect its name

Zap Africa is rebuilding crypto trust in Nigeria — while fighting to protect its name

The startup offers non-custodial swaps, is developing its own wallet, and believes user control is key to adoption.

Nigerian fintech Accelerex and ITEX join Zone’s blockchain network

The integration of the blockchain network will help both firms settle transactions instantly and eliminate failures

Kenyan court orders Worldcoin to delete all biometric data

Justice Rosen Abili ordered the Sam Altman-founded company to delete all the data it had collected.

Stablecoins grossed more transaction volume than Visa in 2024 — Report

Bitwise says data shows more institutions and businesses are turning to stablecoins

🟠 Kenyan crypto stakeholders unite to lobby against digital asset tax

Plus: 🇰🇪 Nairobi Securities Exchange to launch digital platform to trade tokenized real-world assets

Nairobi Securities Exchange to launch digital platform to trade tokenized real-world assets

The Kenya Digital Exchange (KDX), designed in partnership with DeFi Technologies, is set to launch before the end of the year.

Scoop: Kenyan crypto players mount lobbying push against asset tax

A coalition of VASPs is mobilizing to lobby against the proposed tax law, seeking support from global tax experts to bolster its efforts.

🟠 Circle teams up with Flutterwave, Yellow Card to power stablecoin payments

Plus: 🇬🇭 Bank of Ghana plans crypto regulations by September; 🇿🇦 Binance tightens rules for South African users

Bank of Ghana says crypto regulations will go live by September

Ghana’s apex bank plans to establish a special crypto task force to enforce new crypto rules once they are passed

Circle launches stablecoin payment system in partnership with Flutterwave and Yellow Card

African crypto firm Yellow Card and fintechs Flutterwave and Onafriq are among the Circle Payment Network’s inaugural partners

At Paris Blockchain Week, institutions showed up. Africa didn’t

Reflections from Paris Blockchain Week: institutional momentum, real-world utility, and why African builders must be part of the global conversation.

Binance adopts stricter South Africa crypto policies

The exchange is complying with the FIC’s directive to implement the FATF’s Travel Rule by April 30.

🟠 Nigeria delays more crypto licenses — here’s why

Plus: 🇳🇬 Nigerian blockchain startups raised $20M in 2024, claims 3% of global developers — Report; 🇳🇬🇰🇪 CBEX collapse leaves trail of victims across Nigeria and Kenya; 🌍 “Africa is the region that needs stablecoins the most,” Blockradar co-founder

Sidebar: “Africa is the region that needs stablecoins the most,” Blockradar co-founder

Blockradar’s COO, Morgan Williams, explains how stablecoins are reshaping payments, remittances, and financial access across Africa.

Nigeria’s SEC needs more ‘due diligence’ before approving more crypto licenses - DG

Since it granted temporary approvals to Quidax and Busha last year, the agency has hesitated to grant licenses to more crypto firms.

CBEX promised 100% returns—now Nigerians and Kenyans are counting their losses

The scam entity, rumored to be part of a larger crypto crime ring carted away millions of dollars from its victims in Nigeria and Kenya

Blockradar appoints ex-Coinbase operations lead Morgan Williams as COO

Morgan Williams joins Blockradar’s founder, Abdulfatai Suleiman as co-founder in running the startup's affairs.

Nigerian blockchain startups raised $20M in 2024, claims 3% of global developers — Report

The report dubbed the Nigeria Web3 Landscape Report says 3% of global blockchain developers are in Nigeria.

🟠 Inside SA’s crypto crime crackdown

Plus: 🇰🇪 Kenya finally tables a crypto bill, 🇿🇦 Nedbank preps smart contracts, and 📈 Alex Witt talks Minipay’s $40M fund.

South Africa’s FIC flags crypto crime risks for VASPs — Report

The agency says that criminal actors are turning to crypto to launder their profits and wants licensed VASPs to report them

🟠 Crypto is now a security in Nigeria — what you need to know

Plus: 🌍 Tether teams up with Quidax on blockchain education in Africa 🇿🇦 Yellow Card appoints new South Africa country manager

Sidebar: Inside Minipay’s $40M stablecoin strategy

For Minipay, stablecoins aren’t just a product but the foundation for cross-border payments, savings, and financial inclusion in a fragmented continent.

Bill to regulate VASPs lands before Kenyan lawmakers

The bill, the Virtual Assets Service Providers Bill 2025, outlines provisions for crypto regulations in Kenya

Nedbank to rollout smart contract technology within the next 12 months

The exact details of the deployment are not known, but top executive Corbyn de Bruyn sees its impact in revolutionizing agriculture.

CNGN’s developers seeking listing on Yellow Card and Roqqu

However, both exchanges are reluctant to list the cNGN just yet because of a lack of demand and clear use cases.

HRF grants four African projects in Q1 2025

The Human Rights Foundation via its Bitcoin Development Fund gave out 10 bitcoins to 23 projects globally

Ripple donates 25,000 RLUSD stablecoin to provide drought relief to Kenyan herders

The firm is partnering with Mercy Corps Ventures and DIVA Donate to subsidize livestock feed for Kenyan farmers in drought.

Yellow Card appoints new South Africa country manager

Kamogelo Mosime, a former associate at GEMP Group, takes charge of the South African arm of the firm’s operations.

FSCA warns against unlicensed crypto investment companies

Afriinvest and MutualWealth have been promising South Africans daily ROIs as high as 10,000 rands on crypto ‘investments.’

Nigeria’s president signs bill recognizing digital assets into law

Bola Ahmed Tinubu has signed the Investments and Securities Act 2025, officially recognizing crypto assets and placing them under the Nigerian SEC.

Tether teams up with Quidax on blockchain education in Africa

The firms plan to open access to bitcoin and stablecoin education for 15,000 individuals and businesses in Africa

🟠 Ripple and Chipper team up on Africa payments

Plus: 🌍 Bybit partners African talent firm Alt School for tech education 🇰🇪 Kenyan official suggests collaboration with Binance for tech innovation

Ripple taps Chipper Cash in Africa’s cross-border crypto race

The partnership aims to enable 24/7 blockchain-powered payments into nine African countries using Ripple’s XRP ledger

Sidebar: Inside Lisk’s Africa strategy with Chidubem Emelumadu

Lisk is betting on builders, not just users — and Africa is at the center of the plan.

Kenyan official suggests collaboration with Binance for tech innovation

John Tanui believes that partnering with the crypto exchange will help cement Kenya as the ‘Silicon Savannah’ for technology.

🟠 A $1.3M fund just opened for African devs

Plus: 🇬🇭 Ghana’s former president caught in Solana-themed crypto scam 🇰🇪 Kenya fails IMF review, forfeits $850M disbursement

Bybit partners African talent firm Alt School for tech education

The exchange is also launching a $100,000 scholarship for 1000 Alt School Africa students.

Sui blockchain cofounder launches $1.3M fund for African developers

Adeniyi Abiodun, cofounder of Mysten Labs (builders of Sui), says the $1.3M fund will offer low-interest loans to Semicolon students.

Kenya fails IMF review, forfeits $850M disbursement

The East African country is now seeking a fresh credit program from the IMF.

Ghana’s president John Mahama confirms social media hack

John Mahama distanced himself from posts made from the page endorsing Solana and promoting a memecoin.

Ghana’s president ‘endorses’ Solana to drive fintech growth

John Mahama, in now-deleted tweets, appeared to promote a memecoin Solanafrica in a suspicious manner over the weekend.

🟠 KPMG: Banks and crypto firms need each other

Plus: 🇷🇼 Rwanda introduces draft crypto regulations 🇿🇦 South Africa’s taxman targets crypto tax defaulters.

SARS still on the hunt for crypto tax defaulters

The South African taxman has employed crypto tax specialists to help it firm up its tax collection strategy.

KPMG encourages Nigerian banks to embrace blockchain and crypto firms

In a joint publication with Chainalysis, KPMG says both banks and crypto firms can benefit from each other's strengths.

Luno chief calls for regulatory clarity around bitcoin’s onshore status in South Africa

Paul Harker says a significant amount of capital is on the sidelines waiting to be injected into the asset as soon as the classification is made.

Rwanda introduces draft regulations for cryptocurrencies

Authorities in the country want exchanges to apply for operating licenses or risk prosecution.

Binance blocks Nigerian users access to free token rewards and airdrops

Users lament the latest twist in the Binance-Nigeria saga which denies them daily earnings of up to $50.

🟠 America now has a Bitcoin reserve. Will Africa follow?

Plus: 🌍 Hedera makes undisclosed ‘strategic investment’ in stablecoin payments firm, Ivorypay. 🌍 Swiss fintech Centi expands African presence with Yellow Card partnership. 🌍 Ethereum layer-2 chain, Lisk, announces completion of first cohort of incubator.

Ethereum layer-2 chain, Lisk, announces completion of first cohort of incubator

23 African blockchain startups participated in the first batch of the Lisk Blockchain Incubation Hub.

Swiss fintech Centi expands African presence with Yellow Card partnership

The partnership will help streamline crossborder payments into 20 African countries through stablecoins.

Hedera makes ‘strategic investment’ in stablecoin payments firm Ivorypay

Ivorypay aims to incorporate Hedera’s infrastructure and admit a member of the firm onto its board.

Tunisia adopts blockchain-based system for verifying credentials

The country joins three other North African countries to adopt the Unified Arab System for Diploma Authenticity Verification

South Africa edges closer to FATF graylist exit

The country has been on the FATF’s greylist since 2023 because of loose AML/CFT regulations.

🟠 Tether fuels $10M in MANSA

Plus: 🌍 Coinbase Wallet partners with Onboard for naira-based crypto purchases 🇲🇦 Moroccan authorities crack down on property purchases with crypto

Bank of Namibia mulls CBDC launch for crossborder payments

The IMF dissuaded the country from a quick launch, asking it to instead to prioritize improving its existing payment infrastructure.

Moroccan authorities crack down on property purchases with crypto

The government believes individuals pay in crypto to avoid official channels.

Bitget partners with Callpay to enable South African rand transactions

The move aligns with Bitget’s broader strategy of expanding into emerging markets and driving mainstream crypto adoption.

Coinbase Wallet integrates Onboard P2P for crypto purchases in local currency

The feature is available in Nigeria with sights set on more than 50 countries within the year.

🟠 Binance vs Nigeria: The saga continues with a billion-dollar lawsuit

Plus: 🇬🇭 Ghana’s eCedi finally set for 2025 launch 🌍 MiniPay Wins Web3 Award at Africa Tech Summit

USDT issuer Tether leads $10 million funding round in MANSA

The company plans to expand into Asia and Latin America.

Nigeria sues Binance for $81.5 billion, cites economic losses and tax evasion

The country is blaming the exchange for the naira’s woes and is seeking reparations and unpaid taxes.

Nigeria to enforce crypto taxation under proposed law: Report

The Nigerian SEC wants to help generate more revenue for the country through crypto taxation.

Tether partners with the Republic of Guinea to drive blockchain adoption

The parent company of the USDT stablecoin will primarily look to advance blockchain education in Guinea.

Binance exec restates $150M bribery claim against Nigerian officials

In response, a Nigerian official has labelled Gambaryan’s allegations outrageous and defamatory.

🟠 CAR’s crypto experiment just got weirder

Plus: 🇬🇭 Ghana’s eCedi finally set for 2025 launch 🌍 MiniPay Wins Web3 Award at Africa Tech Summit

MiniPay wins web3 award at Africa Tech Summit

The stablecoin wallet platform won against the likes of Yellow Card and ICP Hub nominated in the same web3 category.

Ghana to launch CBDC, the eCedi in 2025 — Report

This follows a two-year delay despite a successful pilot program.

CAR’s president confirms legitimacy of memecoin launch

Following $CAR’s launch on Sunday, several concerns were raised about the possibility that Touadéra was hacked.

$CAR President’s memecoin: real or a hack?

Faustine-Archange Touadéra appeared to have announced the launch of the $CAR memecoin on social media in a manner typical with hacking scams.

🟠 Move over, eNaira. cNGN enters the chat

Plus: 🌍StarkWare launches $4M fund for African blockchain projects 🇰🇪 South African startup 6DOT50 introduces crypto payment for car purchases 🌍 Connect with Mariblock at ATS

StarkWare launches $4M fund for African blockchain projects

The fund looks to empower six to eight African blockchain startups yearly through grants, venture investments and accelerators.

South African startup 6DOT50 introduces crypto payment for car purchases

6DOT50 will allow its users pay for their automobiles directly with their cryptocurrency at 1400 locations in South Africa.

Naira-backed stablecoin cNGN debuts on local exchanges

As stated on its website, only licensed users can purchase cNGN directly from the platform, while others can access it through cryptocurrency exchanges like Busha and Quidax.

🟠 When money buys regulation

Plus: 🇿🇦 SARB governor pushes back on crypto lobbying in politics 🇰🇪 Kenyan crypto group fights for fairer regulations 🇳🇬|🇬🇭 Accrue raises $1.58M to expand African crypto payments

Kenyan crypto group submits policy proposals to regulators

VACC touted a review of the digital asset tax to the Kenyan technical working group on virtual assets regulations as part of its recommendations.

Africa Tech Summit unveils 55 finalists for inaugural awards

The winners will be announced on February 13th at the Africa Tech Summit Nairobi, a two-day event bringing together over 2,000 industry leaders and 1,000 companies.

African payments company, Accrue, raises $1.58 million

The Africa-focused cross-border payments company plans to expand its product offerings to other African countries and grow its staff.

SARB governor opposes crypto lobbyists influencing government decisions

Kganyago is unmoved by calls for government-owned bitcoin reserves, claiming the cryptocurrency is no different from apples and beef.

🟠 Stablecoins: proving to be stable, even in shady business

Plus: 🇰🇪 Kenya issues draft policy to regulate virtual assets 🇳🇦 Namibian central bank grants provisional licenses to two crypto firms

Crypto crime proceeds valued at $40.1 billion in 2024—Chainalysis

The figures are expected to rise much higher and cross the $51 billion threshold as crypto crimes become more sophisticated and professional.

Namibia shores up crypto regulations, grants provisional licenses to two crypto firms

The country wants these firms to meet its preauthorization requirements before they are fully licensed.

Kenya issues draft policy on virtual assets regulation

The country is also asking for public input as it moves one step closer to establishing crypto rules.

South Africa’s FSCA licensed 248 crypto firms in 2024

Pan-African exchange, Yellow Card, also secured an FSCA-issued financial service provider license late in the year

Gateway App launches ‘Ija: Battle of the Gods,’ an on-chain multiplayer fighter game on mobile

Dive into African mythology, fight as gods, and turn your in-game wins into real-world blockchain assets.

Mariblock Roundtable: Stablecoins and Africa’s financial future

The first-of-its-kind event is set to bring together blockchain and fintech professionals to discuss emerging trends around stablecoins in Africa.

Ethereum ecosystem support program gives out $13 million in Q3

At least five African companies benefitted from the latest batch of the ecosystem grant allocation from Ethereum.

Verda Ventures partners with Opera to launch $40 million MiniPay fund

The fund will support Web3 startups to build products around Opera’s MiniPay wallet.

CV VC hires former KPMG and Deutsche Bank employee to lead African investments

Jarryd Kennedy is expected to lead the venture capital firm’s fundraising for an Africa-focused investment fund.

Rwanda to establish crypto regulations in 2025 — NBR

The National Bank of Rwanda said it is in talks with its capital markets regulator create crypto rules in Q1 2025

Ethiopia Earns $55 Million from Bitcoin Mining Deals in 10 months

The East African country wants to position itself as a global bitcoin mining hub with hundreds more megawatts of power to be made available for bitcoin miners in the country.

Kotani Pay Expands its services to Rwanda and Uganda

The expansion brings the Kenya-based fintech’s presence to six African countries.

Tether stablecoin sees increased usage in Africa since January — Chainalysis

This development confirms the growth in the USDT-dominated stablecoin market in Africa since 2022.

Kenya’s stock exchange eyes tokenized securities with Hedera Council membership

The Nairobi Securities Exchange is looking to accelerate the tokenization of securities, targeting tech-savvy investors in Kenya's capital markets.

Zanzibar introduces blockchain sandbox for startups

The archipelago in Tanzania wants to position itself as a hub for technological innovation.

Kenya’s apex court upholds 3% Digital Asset Tax

Meanwhile, the KRA said it is working on a system to ensure real-time compliance with the tax regime.

Court sets Gambaryan free as Nigerian government withdraws charges

The EFCC asked the court to release the Binance executive, citing his failing health and behind-the-scenes diplomatic meetings between the Nigerian and United States governments.

Baxi, FairMoney, and KongaPay join Zone’s decentralized payment network

These fintechs follow the steps of other notable Nigerian tradfi banks in implementing Zone’s blockchain-based payments processing network

South African taxman goes after crypto traders to rein in taxes

The tax agency is scrutinizing individual trading and tax data to find defaulters and issue them assessments. To crack down on non-compliance, SARS is also leveraging artificial intelligence (AI) technology.

Detained Binance exec faces further delay in bail request as health falters

Test Despite Tigran Gambaryan’s condition worsening, his bail request is postponed. The court is still to decide on his medical release.

Nigerian SEC grants provisional crypto licenses amid regulatory shift

Crypto exchanges Quidax and Busha receive “Approval-in-Principle” as Nigeria takes steps towards regulating the crypto industry.

Herniated disc and handcuffs: Binance exec’s health deteriorates in Nigerian prison

Binance disputes claims about its earnings in Nigeria, while legal battles intensify amid the six-month detention of employee, Tigran Gambaryan.

Binance exec in Nigerian prison denied access to legal team amidst worsening health

Tigran Gambaryan’s legal team has not been allowed into the prison since July 26 while Gambaryan has suffered additional health complications.

Bank of Ghana issues draft guidelines for crypto regulation

Ghana’s apex bank has also asked for input from members of the public while it moves closer to establishing digital asset rules.

Seychelles approves landmark crypto bill to regulate virtual assets sector

Seychelles, long regarded as a crypto-friendly jurisdiction, is moving to rein in the digital asset industry within its borders as consumer complaints about crypto-related losses continue to rise.

Nigerian SEC mandates crypto firms to open local offices for regulatory sandbox participation

Nigeria's SEC unveils strict requirements for crypto firms, including local presence and hefty penalties, as it seeks to regulate the burgeoning digital asset market amidst global challenges.

Nigeria’s crypto crackdown: U.S. Congress pushes for Binance exec’s release from Nigerian prison

A bipartisan House resolution urges Nigeria to free Tigran Gambaryan, detained since February, citing health concerns and due process violations.

97% of African countries struggle with crypto compliance: FATF

FATF’s latest review also reveals that 75% of jurisdictions globally fall short of crypto compliance.

Paxful co-founder pleads guilty to AML conspiracy charges, faces prison time

The plea comes after a tumultuous year for the P2P bitcoin exchange, which temporarily suspended operations in 2023.

🟠 South Africa’s message to the rest of Africa

Plus: 🇿🇦 South Africa grants 63 new crypto licenses 🏛️ FSCA chief outlines principles-based regulation 🇳🇬 CBN official testifies against Binance 🛠️ Fuse Network launches $10K summer hackathon

Nigerian Binance users transact using fictitious names, CBN official testifies

Olubukola Akinwumi, a CBN deputy director, revealed how Nigerians trading on Binance use false names to hide their identities.

Nigeria to launch AI and Blockchain research hub nationwide

Despite promising blockchain developments, it remains unclear how Nigeria plans to transform its policies and promises into tangible, productive endeavors.

From rigid rules to flexible principles: South Africa’s approach to financial innovation

South Africa’s financial conduct regulator aims to foster innovation while protecting consumers, as crypto licensing efforts continue.

Binance vs Nigeria: A timeline of events as they unfold

From regulatory concerns to legal battles: Key events in the Binance-Nigeria saga and their impact on Africa's crypto landscape.

Crypto exchange KuCoin imposes 7.5% VAT on transaction fees for Nigerian users

This follows the suspension of KuCoin’s P2P service for Nigerians in May. The remittance process of the VAT is unclear.

South Africa grants 63 new crypto licenses

This brings the total approved crypto licenses in South Africa to 138. On- and off-ramp crypto service Kotani Pay is one of the newest licensees.

Scoop: South Africa announces 30 investigations into crypto activities

FSCA has formed a special team to probe unlicensed crypto services amid ongoing regulatory efforts. 30 cases are under scrutiny as South Africa seeks to balance innovation and compliance.

Worldcoin to resume operations as Kenyan police drop investigations

The company has turned its fortunes around despite recommendations of a total shutdown and legal actions against it in Kenya.

ICP Token Analysis: Here's How DFINITY’s ICP is Powering the Future of the Decentralized Web

Dive deep into ICP tokenomics & its role in the Internet Computer ecosystem. Explore the network’s token distribution and utilities.

Nigeria’s SEC announces regulatory sandbox for crypto firms

The country’s capital market regulator wants to fast-track the onboarding of crypto providers pending the establishment of digital asset rules.

Nigerian SEC to leverage blockchain for capital markets

Dr. Agama’s latest comments come amidst uncertainties in the Nigerian crypto space. A Binance executive remains in detention in Nigeria.

USDT issuer Tether partners NODO for stablecoin education in Africa

The partnership comes amid an intensifying battle for stablecoin market share in Africa. Last year, stablecoin volume exceeded $30 billion.

🟠 Flash-in-the-Pan $DAVIDO

Plus: 🌍 Builders builders 👷🏾 x 📰 media virtual call 🇿🇦 South African taxman wants his dues 🇳🇬 Binance exec denied adequate medical care

Exclusive: Davido received $30K to launch meme coin, influencer claims

Meme coin creator Sahil Arora said he is behind $DAVIDO, the new meme coin promoted by Afrobeat star Davido.

Jailed Binance exec still awaits medical care despite court order

Tigran Gambaryan, who has been detained for three months, has malaria and a throat infection, according to his wife.

Brief: Nigerian lawmakers push for crypto regulation

This comes amidst a topsy-turvy crypto regulatory environment in the West African country, marked by a significant crackdown on P2P trading.

South African taxman is cracking down on crypto traders: report

SARS is working closely with the South African Reserve Bank (SARB), along with international information exchanges on eliminating non-compliance.

Paxful partners with Onramp.Money to Introduce fiat-to-cryptocurrency service in Kenya

The Paxful-Onramp.Money link-up lets users buy crypto instantly with local money in 30 regions. Paxful says the deal improves liquidity on its platform.

KuCoin pauses P2P trading in Nigeria amidst regulatory concerns

The KuCoin suspension comes after the new Nigerian SEC chief hinted at a total ban on P2P trading.

Mariblock restarts operations following a two-month hiatus

The company, which ran almost entirely out of the lead editor’s savings, defaulted on salaries and suspended operations temporarily while seeking funding.

P2P Crypto Trading in Nigeria: SEC Chief Hints at Ban

Acting Director General Emomotimi Agama, who met with the crypto community virtually, invoked patriotism and urged market participants to fish out naira manipulators.

Anti-graft agency gets court order to track Nigerians on Binance

The agency says it has evidence to believe that some Nigerians used Binance for illegal activities and manipulation of the foreign exchange market.

Kenya and Namibia join 10 African countries on FATF grey list

This brings the total number of African countries on FATF’s grey list to 12, accounting for approximately 57% of all grey-listed countries.

Binance ends naira support in Nigeria amidst regulatory pressure

Users can still trade crypto but need other services to deposit/withdraw naira

Nigerian official confirms the investigation of Binance

The Office of National Security Adviser (ONSA) “is coordinating an interagency investigation into the operations of Binance,” according to ONSA’s head of strategic communications, Zakari Mijinyawa.

Kenya moves to regulate cryptocurrency trading amid FATF grey listing

The East African country, added to FATF’s grey list last week, committed to reining crypto-related money laundering and terrorism financing risks.

Vircap revolutionizes P2P cryptocurrency exchange in Nigeria, empowering merchants and traders

Vircap, Nigeria’s premier local P2P cryptocurrency exchange, is reshaping the landscape by offering a dynamic platform for seamless cryptocurrency trading. Catering to the unique needs of Nigerian merchants and traders, Vircap provides a plethora of features that distinguish it from global cryptocurrency giants. Vircap prides itself on fostering a

Power play: Bitcoin miners flock to Ethiopia for low-cost electricity

The East African country hopes to earn much-needed foreign exchange by providing electricity to these mining companies.

First-ever South African crypto licenses are imminent: FSCA official

A pivotal moment for Africa’s crypto regulatory landscape as South Africa nears crypto license issuance.

Nigeria seeks $1.5 billion World Bank loan to ease forex shortage

Nigeria’s Finance Minister added that the country is also looking to tap into the Eurobond market this year if rates fall.

Ethiopia faces challenges as it integrates into BRICS

In December 2023, Ethiopia informed its bondholders that it would not be able to make a $33 million repayment on its $1 billion Eurobond loan.

Core DAO launches a $5 million Africa blockchain fund

Dubbed the “Core African Innovation Fund,” the initiative seeks to support blockchain projects in Africa.

A new generation of African builders is springing up, leveraging blockchain to build an inclusive future

Buidlers Connect, a collective of professionals in the African blockchain ecosystem, represents a new-found focus on developing blockchain-based public good solutions, Mariblock's lead editor opines.

Btrust Builders kicks off inaugural fellowship for Bitcoin developers in Africa

The fellowship, Btrust Builder’s first since it acquired Qala, is expected to train African software developers on Bitcoin open-source development.

IMF approves Kenya’s financial package of $941 million

A staff-level agreement follows the approval of the IMF loan to Kenya in November 2023.

Triple-A and Paycorp team up for South Africans to withdraw crypto as cash at ATMs

This feature is only available to South African users of the Paycorp-powered CryptoExpress app.

Crypto crime in 2023 exceeded $24 billion: Chainalysis

The analytics firm found that illicit transactions are carried out more with stablecoins than any other cryptocurrency.

IMF set to review Ghana’s second loan payout of $600 million on Friday

Once the date for a meeting has been set, it is expected that the necessary approval will be granted.

Why Africans should embrace crypto to safeguard savings against inflation and currency devaluation

Crypto is helping Africans protect themselves from the harsh realities of inflation via saving in assets like stablecoins.

Helicarrier shuts its professional crypto trading platform Buycoins Pro

The reasons for the closure remain obscure, but there are suspicions that thin volumes on the exchange were a factor. The registration feature on the website has also been disabled.

Crypto startup Canza Finance raises $2.3 million strategic funding round

The funds were raised to support the development of the startup's decentralized finance (DeFi) solution.

Four reasons Ghana is developing the eCedi CBDC

With the eCedi CBDC, the Bank of Ghana hopes to stay relevant in an increasingly digital world. The CBDC is also created for financial inclusion.

Ethiopia gets $350 million World Bank financing for its digital ID project

$50 million comes as a grant from the World Bank’s International Development Association.

Biggest African blockchain stories of 2023, according to Mariblock writers

Explore Africa's blockchain evolution in 2023 through the lenses of Mariblock writers.

Coinbase taps Yellow Card as on- and off-ramp partner for African expansion

Starting in February, Coinbase users in 20 African countries can buy USDC directly from the Coinbase Wallet App.

Nestcoin-owned Onboard expands crypto exchange services into Kenya

The crypto company wants to expand into other markets in the Global South.

Egypt plans to launch its CBDC in 2030

Presently, the country wants to work on improving its economy and increasing financial inclusion.

Severely devalued naira expected to perform at poorest ever in 2024 — Bloomberg

The naira was one of the worst-performing currencies in 2024, and experts see the trend continuing in 2024.

Nigeria authorizes banks to open accounts for crypto companies

But there's a catch: cryptocurrency companies must first secure a license from the country's capital markets regulator.

🟠 More African crypto regulations

Plus: 🇰🇪 Worldcoin moves to resume operations in Kenya

IMF calls for stricter rules for “risky” and “poorly-backed” crypto

The international organization has instead encouraged blockchain adoption in traditional financial systems.

Worldcoin moves to resume operations in Kenya

“Worldcoin is working directly with regulators to meet Kenya’s requirements, particularly as the Assembly considers new regulations,” a source said.

How cryptocurrency is empowering global economic inclusion

Crypto is driving global economic inclusion by connecting individuals in emerging markets to opportunities that were previously inaccessible.

Egypt’s journey towards digital pound implementation

Egypt is moving towards joining Nigeria, Kenya, Senegal, and South Africa in implementing CBDCs.

Angola’s parliament passes law to regulate digital assets and crypto-mining

The five-part law protects the country’s monetary policy and energy infrastructure, per an official.

Ghana’s SEC sets up committee on crypto regulations

The SEC’s Director-General said that the Commission formed the task force to help it develop the capacity to regulate crypto assets.

Fuse unveils $10 million in grants to enhance Web3 innovation

The $10 million grant program is open to global applications. However, there will be a keen focus on emerging markets like Africa.

Ethiopia set to make an “unnecessary and unfortunate” default on Eurobond repayment

The country’s finance ministry is looking to restructure its Eurobond following recent success with restructuring the terms of its bilateral debt.

🟠 Bitmama X Payday: When Web3 acquires Web2

Plus: 🇿🇦 South Africa could license up to 36 crypto firms this month. 🌍 Yellow Card integrates Block’s open-source protocol for cross-border payments.

BIS says token-based CBDCs like the eCedi pose counterfeiting and money laundering risks

The Bank of Ghana previously assured that the eCedi would keep with financial regulations while maintaining privacy.

The eCedi will bridge the gap between the banked and unbanked – BoG Governor

Despite a successful pilot, the launch has been delayed due to several factors, including economic concerns such as rising inflation and the depreciation of the cedi.

UfarmX wants to create blockchain-based digital ‘credit scores’ for African farmers

The US-based startup is expanding its operations into Senegal after conducting pilots in Nigeria.

Kenyan legislators launch law changes for cryptocurrency taxation

The bill will now move to the next stage, where members of parliament will discuss and propose any changes they think are needed. If approved, it will be sent to the President for final approval.

Yellow Card integrates Block’s open-source protocol for cross-border payments

TBD said that cross-border transactions were only the first use case it considered for the tbDEX protocol.

South African financial regulator receives 128 crypto license applications

The number of applications received in November surpassed October’s total of 93 applications.

Why crypto company Bitmama acquired fintech startup Payday

Bitmama would gain access to Payday's customer base through this deal, bringing the crypto company one step closer to its objective of promoting crypto-based remittances in Africa.

Empowa goes multichain with Hedera’s decentralized ledger

The Mozambique-based startup integrates Hedera hashgraph to enable fiat payments by tenants across Africa.

🟠 Binance goes retail in South Africa

Plus: 🇳🇬 Central Bank of Nigeria to tackle inflation by mopping up excess liquidity in banking system. 🇳🇬 Nigeria secures $1 billion concessionary loan from African Development Bank.

Binance partners with CryptoConvert to introduce new crypto payment option for South Africans

The payment system allows Binance users to pay with crypto directly at Pick n Pay stores in South Africa, eliminating the need to fund Lightning wallets first.

Infographic: How cryptocurrency has value and why you should care

Crypto's value is that it works how you expect money to work — store of value, medium of exchange and available globally.

Central Bank of Nigeria to tackle inflation by mopping up excess liquidity in banking system

Cardoso said that the previous CBN administration deployed unorthodox policies, resulting in an uptick in inflation.

Nigeria secures $1 billion concessionary loan from African Development Bank

The Federal Executive Council also approved a total limit of 2 trillion naira for the Ministry of Finance to reduce the country's debt servicing.

Somalia joins the East African trade bloc

Although Somalia submitted its application in 2012, it took 11 years to grant its request due to lingering security concerns.

🟠 South Africa, the crypto torchbearer

Plus: 🇳🇬 Patricia hack saga continues 🇸🇨 Seychelles’ statement about unregistered virtual asset service providers.

Nigerian Police announces an arrest in connection to Patricia’s security breach

Bonse was alleged to have conspired to launder 50 million naira from funds stolen from Patricia.

Stitch introduces crypto payment option in South Africa

The novel feature is built on top of the crypto company’s VALR’s application programming interface (API).

How crypto provides people with a way out during conflicts

During wars and protests, cryptocurrency offers people an escape route. It provides a means of financial freedom and independence from traditional financial systems.

Seychelles Financial Services Authority clamps down on unregistered virtual assets service providers

The island has seen more activity from global crypto companies than most African countries due to its relaxed KYC guidelines and loose virtual asset regulations.

Patricia fails to meet repayment deadline

After overcoming login issues, users discovered that Patricia has converted their existing crypto balances to PUTX and withdrawal is still unavailable.

IMF expands Kenya’s financing package to $938 million

The additional funding will strengthen the country’s reserves before its $2 billion Eurobond payment in June.

South African tax body adopts crypto-assets reporting framework

SARS wants to integrate the Crypto Asset Reporting Framework (CARF) into national law as part of its commitment to regulatory measures.

Kenya to host PAPSS, an African cross-border payment infrastructure

PAPSS allows African traders to settle deals using their respective national currencies.

Nestcoin-owned Onboard has launched its virtual cards

Nestcoin’s Onboard joins Bitmama and Bitnob in the growing trend of African crypto companies offering virtual cards.

Mauritius wants to integrate the metaverse into its financial system

Integrating the metaverse into Mauritius’ financial sector can birth new financial innovations, the Financial Service Commission wrote.

Nigerian crypto scam entity Argo Coin has vanished with its customers’ funds

The crypto scam entity lured investors by falsely claiming to invest their money in Bitcoin mining equipment, promising exorbitant returns.

🟠 Kenya takes decisive steps to regulate crypto

Plus: 🇳🇬 Vella Finance crypto exit 🌏 SBF trial

Exclusive: Kenyan lawmakers task lobby group to draft crypto bill

The National Assembly’s Departmental Committee on Finance and National Planning has directed the Blockchain Association of Kenya to prepare the first draft of what could become a virtual asset service provider’s bill.

Kenya government to launch digital identification by December

It is unknown what technology the digital ID project is built on. The previous project, Huduma Namba, was built on blockchain.

MetaMask partners with Blockaid to launch security alerts for its self-custodial wallets

The feature takes effect on Oct. 31 and will be made available by default to MetaMask’s users by next year.

Vella Finance shuts down crypto operations to focus on SME banking

The fintech company decided to focus solely on banking services for small businesses, which constrains it from offering crypto services.

🟠 More drama for crypto exchange Patricia

Plus: 🌍 | Worldcoin starts paying its orb operators in WLD instead of USDC 🇧🇼 | Botswana’s president advocates blockchain for transparent diamond production

Botswana’s president advocates blockchain for transparent diamond production

The country’s diamond mining partner, De Beers Group, recently launched a blockchain tracing system, Tracr, to verify if diamonds are ethically sourced.

Kenyan shilling slumps to a record low of 150 to dollar

According to the CBK Governor, Kamau Thugge, the shilling has been overvalued for several years.

IMF reaches staff-level agreement to disburse over $200 million to Senegal

The financial arrangement is set to last 36 months under the Extended Fund Facility and Extended Credit Facility of over $1.5 billion.

DLM Trust terminates escrow trustee agreement with Patricia, citing breach of terms

Patricia had announced that DLM Trust had entered a partnership with it, a claim the company has refuted.

Nigeria is expecting $10 billion forex liquidity ‘within weeks,’ finance minister says

The naira has been on a free fall due to foreign exchange shortfalls. The government is looking to fill the gap with the expected inflow.

Worldcoin starts paying its orb operators in WLD instead of USDC

The company expects all of its operators to be paid exclusively in WLD in November.

Blockchain gaming sees $2.3 billion in investment

However, this figure represents a 30% decrease from the $3.3 billion raised in 2022.

🟠 Africa gets its first crypto card issuer

Plus: 🇿🇦 | Visa partners with VALR to issue cards in South Africa 🇿🇦 | Blockchain offers Africa opportunities for environmental, social, and governance development – Standard Bank

Key insights from BoG’s eCedi hackathon session

The Bank of Ghana is hosting a 12-week hackathon in partnership with EMTECH. Here's what you need to know.

Nigeria in talks for $1.5 billion World Bank loan — Finance minister

The finance minister expects the loan deal to be finalized soon.

South Africa on track to overtake Nigeria as Africa’s largest economy in 2024 — IMF

Tough economic measures have seen Nigeria’s economy shrink in the short term, but growth is foreseeable in the medium term.

Visa partners with VALR to issue cards in South Africa

VALR said that the partnership aims to issue cards and other digital payment solutions that will be announced in the future.

Fraudulent CAR crypto investment company vanish with customer funds: Reports

Hundreds of Central Africans participated in the scheme, with some depositing their life savings worth millions of CFA francs.

Akowe’s blockchain solution set to transform Africa’s educational sector

Akowe is leveraging blockchain to address the challenges of the safekeeping of academic certificates in Sub-Saharan Africa.

Blockchain offers Africa opportunities for environmental, social, and governance development – Standard Bank

Standard Bank Group’s Head of the Blockchain Centre of Excellence, Ian Putter says crypto will function alongside other payment rails in Africa rather than disrupt them.

Bitcoin Ekasi: A South African non-profit’s vision to create a Bitcoin circular economy

Bitcoin Ekasi hopes to create a circular economy where South Africans can get paid, purchase items and pay for services in bitcoin without first converting it to fiat.

🟠 Another crypto scam ring busted in Africa

Plus: 🇬🇭 | Bank of Ghana partners with EMTECH to launch eCedi hackathon 🇲🇿 | World Mobile launches its first aerostat in Mozambique

Flutterwave partners with Hedera to integrate payment settlement with USDC

Flutterwave claims the partnership addresses common challenges in the financial industry, such as slow settlement times and high transaction costs.

Bank of Mauritius advances towards the launch of its CBDC

The bank governor added that the bank has an open mind towards new technologies.

World Mobile launches its first aerostat in Mozambique

The team waited in vain for 11 months to receive regulatory approval for the aerostat’s launch in Zanzibar, Tanzania, before it moved to Mozambique

Sophisticated crypto scam run by Chinese nationals busted in Namibia: Reports

The scammers employed young Namibians and trained them to target victims to invest in a non-existent crypto investment platform.

Zimbabwe’s central bank introduces gold-backed digital currency for retail use

However, there are concerns about its stability, given the price of gold and fluctuations, regulatory challenges, trust, and cybersecurity.

Idris Elba partners with Stellar Development Foundation to build blockchain solutions in West Africa

Elba sees crypto’s underlying blockchain technology as a means to remove financial barriers in emerging markets.

Embattled crypto exchange Patricia secures funding to repay some of its debt

Controversies and questions still trail the company’s move to manage a security breach it had suffered and repay its customers’ lost funds.

Bank of Ghana partners with EMTECH to launch eCedi hackathon

This initiative invites fintechs, developers, and innovators to develop innovative solutions that explore the versatility of the eCedi.

MTI’s liquidators to refund part of victims’ recovered bitcoins

1,281 bitcoins have so far been recovered and will be repaid to victims who submit claims only after the courts have made some clarifications.

Is real estate tokenization the solution to land fraud in Africa?

Prop-tech startup My Shamba Digital partners with global real estate tokenization company BrickMark to solve land fraud and provide fractional investments.

Kenyan parliamentary committee recommends shutdown of Worldcoin

The committee deemed Worldcoin and its partners’ activities criminal and called for legal action against them.

Scan to Pay App to launch cryptocurrency payment in South Africa

5.8 million South Africans own cryptocurrencies, translating to 9.44% of the country’s total population.

🟠 Crypto in Africa: A deep dive into Chainalysis’ latest findings

Plus: 🇿🇦 | South Africa’s First National Bank to issue blockchain-based title deeds 🇹🇿 | Tanzania moves to diversify its foreign reserves with gold

Ghana records economic growth upon adoption of IMF-supported reform program

The BoG Governor said the country’s economy grew by 3.2% in the second quarter, surpassing the 1.5% growth target set in the IMF program.

Tanzania moves to diversify its foreign reserves with gold

Tanzania’s local currency has seen record depreciation levels attributed to US rate hikes.

South Africa’s First National Bank to issue blockchain-based title deeds

The ‘big four’ bank is warming towards the technology and considering other blockchain innovations in the traditional finance sector.

Morocco remains in top 20 for global crypto adoption despite ban — Chainalysis

Egypt, previously ranked as the fastest growing crypto economy worldwide, dropped out of the top 30, according to Chainalysis’ Geography of Cryptocurrency report for the MENA region.

NITDA issues warning to Nigerians about cryptocurrency giveaway scam

Scammers actively target victims by sharing videos of fake cryptocurrency giveaways featuring notable names and organizations.

Chainalysis’ research lead speaks on Sub-Saharan Africa’s $117 billion crypto economy

Sub-Saharan Africa's crypto economy is characterized by retail-driven markets, with Nigeria leading the way, according to Chainalysis.

Olliv by Coinflip expands crypto kiosk service to South Africa

The kiosks enable a seamless buying and selling of various cryptocurrencies with cash or other methods.

🟠 Nigeria received nearly $60 billion in crypto value in a year

Plus: 🇰🇪 | Crypto scam alert: Argo Blockchain does not have Nigerian and Kenyan entities 🇲🇺 | Republic of Mauritius launches blockchain-based eVerify service

Gambia’s dalasi retains its position as Africa’s best-performing currency

Despite rising inflation rates up to 18.4%, Gambian dalasi managed to gain 0.9% against the US dollar

Kenya’s Interior Minister claims the U.S. prevented the arrest of Worldcoin executives

In a conflicting statement, a Worldcoin representative debunked the news, saying no executives were detained in Kenya.

Republic of Mauritius launches blockchain-based eVerify service

The eVerify service will be used in the education, health care, production, and legal sectors of the country.

Binance provides crypto aid to Libya flood victims amidst controversies over possible PR motives

Critics have labeled the act by the global cryptocurrency company as a publicity stunt to launder its embattled image.

IMF and World Bank to proceed with annual meetings in Morocco in October

There are concerns about the earthquake affecting the meetings in Marrakech since it is expected to bring a crowd of 10,000-15,000 people to the city.

Crypto scam alert: Argo Blockchain does not have Nigerian and Kenyan entities

Argo-Coin and Argo Kenya have been taking money from Nigerians and Kenyans to invest in Bitcoin mining equipment and earn outrageous ROIs

Remitano crypto exchange hacked for $2.7 million, narrowly avoids a further $1.4 million tether loss

The crypto exchange mainly based in emerging markets lost $2.7million in what is believed to be a well-coordinated attack and a potential loss of $1.4million was averted by Tether.

Kenya’s Interior Minister hints at possible cryptocurrency ban

Kithure said that if the money in crypto trading cannot be traced until it enters a financial institution, he would hesitate to permit its use.

Nigeria received nearly $60 billion in crypto value in a year

Overall, Sub-Saharan Africa received $117.1 billion in crypto value between July 2022 and June 2023, according to data from blockchain analytics firm Chainalysis.

Bitcoin Dada receives a $10,000 donation from Samara Asset Group

Bitcoin Dada hopes to increase women’s participation in bitcoin by creating a more equitable and inclusive financial system in Africa and beyond.

Africa plays a crucial role in the success of crypto: Web3 expert

Yoseph Ayele believes that global blockchain communities need to collaborate with Africans to foster growth and development.

🟠 Kenya’s digital asset tax: death knell for crypto adoption?

Plus: 🌍 Btrust, cofounded by Jack Dorsey and Jay Z, acquires African Bitcoin talent development firm Qala 🇰🇪 | Worldcoin probe: project CEO appears before Kenyan parliament 🇨🇲 | Crypto adoption on the rise in Cameroon, amidst growing concerns of Ponzi schemes - study

Binance airdrops $3 million in crypto to Morocco earthquake victims

Binance will airdrop $10 in BNB to active transacting users throughout Morocco, even if they reside outside the most affected areas.

Inside Kotani Pay’s plan to bridge Africa’s financial divide through cryptocurrency

To address the digital divide in Kenya, Kotani Pay employs familiar interfaces like USSD, making interactions with blockchain wallets as straightforward as everyday tasks.

MTI CEO ordered to pay $1.7 billion in restitution for bitcoin Ponzi scheme

The founder of the bitcoin Ponzi scheme, MTI was charged with identity fraud last month in Brazil.

Kenya’s digital asset tax: death knell for crypto adoption?

The Kenyan government passed the Digital Assets Tax into law, mandating crypto users to pay a 3% tax anytime they exchange an asset.

CryptoConvert partners with VALR and Luno to enable bitcoin payments at Pick n Pay stores

Customers of top South African retail store can easily make crypto payments through VALR and Luno.

Worldcoin denies using free tokens to induce users to sign up

Worldcoin CEO appeared before the Kenyan Parliament to defend the company’s operations and here are key insights from the session.

Trade in cryptocurrency not illegal: CBK Governor

The committee also summoned the CBK governor to explain why the Bank failed to detect the Worldcoin token payments made to Kenyans via M-Pesa.

Crypto adoption on the rise in Cameroon, amidst growing concerns of Ponzi schemes - study

Numerous companies offering crypto products in Cameroon follow the Ponzi scheme patterns, resulting in losses, the study reads.

Worldcoin probe: Journalists denied access to committee meeting in Kenya

Worldcoin’s orb, used to scan people’s eyeballs, was confiscated by the DCI from the operators and is in their custody.

Btrust, cofounded by Jack Dorsey and Jay Z, acquires African Bitcoin talent development firm Qala

The acquisition will see Qala rebrand as Btrust Builders with a new focus on providing training in open-source Bitcoin software development.

🟠 Crypto sues the government

Plus: Worldcoin probe: A web of controversies 🇰🇪 | Patricia’s ‘grand’ plan to refund users is based on its profitability 🇳🇬 | Stablecoins: A key infrastructure for the African market 🌎

Blockchain Association of Kenya drags government to court over crypto tax

BAK holds the view that the newly introduced regulation is harsh and could stifle blockchain innovation.

Worldcoin probe: Over 350,000 Kenyans signed up in the first week, officials reveal

Another contradiction about the project was the storage location of the collected data.

Stablecoins: A key infrastructure for the African market

According to USDC’s product lead, more fiat-pegged stablecoins are needed to enable easy access to FX.

Retraction: Clarification on Western Union and Ripple integration story

Clarification: Our earlier report on Western Union-Ripple integration was inaccurate.

Patricia’s ‘grand’ plan to refund users is based on its profitability

Users will only be able to access their funds as the company makes profit.

Worldcoin controversy: two sides of the ‘coin’

Mariblock hosted a space on X where it entertained arguments for and against the digital ID company, Worldcoin. Here are some key takeaways from the space.

Kenyan parliament forms committee to investigate controversial Worldcoin project

Worldcoin's launch has been met with controversy and is currently under investigation in five major countries.

🟠 The African crypto moment of truth

Patricia’s move prompts crypto credibility reflection. Is it time to take self-regulation seriously as a trust-building tool?

World Mobile launches its multipurpose global mobile app

However, due to regulations, the Cardano wallet and fiat on-ramp features are currently unavailable in Tanzania.

Kenya and South Sudan resolve border disputes, agree boost trade and infrastructure

Issues around border conflicts and port access have threatened trade ties between both countries for decades.

Egypt and Ethiopia among six countries invited to join BRICS

This is the bloc’s first expansion in 13 years.

CAR expands Sango project to tokenize land and natural resources

Despite facing several challenges since its launch, the Sango project announced the tokenization of its land and natural resources.

FTX 2.0: Patricia is tampering with user funds without permission

Patricia’s move to convert customer funds mirrors FTX’s 2022 troubles, underscoring the risks of relying on centralized exchanges.

The naira stabilized following NNPC’s $3 billion loan deal with Afreximbank

The funding is expected to be used to support the federal government in its efforts to stabilize the naira.

The 2023 BRICS Summit: outlook and expectations

Here’s why the summit, scheduled for Aug. 22 to Aug. 24 in South Africa, could be significant for the global economic landscape.

Kenyan financial watchdog seeks public input on cryptocurrencies

The Financial Reporting Centre is asking citizens to engage in shaping the nation’s stance on cryptocurrencies.

DeFi protocol Goldfinch demos a self-custody solution that simplifies crypto UX

The project, which has offered loans to African businesses, sees bad UX as a major hurdle to crypto adoption and sees its passkey demo as the solution.

CEO of the bitcoin pyramid scheme that allegedly stole 22k bitcoin jailed in Brazil

Steynberg, who had suddenly gone missing in December 2020, was arrested a year later on charges of forgery and using false ID.

Real estate tokenization can help build wealth in Africa: RedSwan’s CEO

“We’re really interested in Africa. We think that’s an untapped market, ... and we think that the tokenization industry can start building wealth and adding value to people’s lives”

eNaira CBDC set for cross-border and wholesale use-case upgrade

Also, an eNaira-pegged stablecoin is in the works and will be publicly available soon, says Convexity founder.

Q&A: Angola can become a hub for cryptocurrency mining in Africa

The country, which has seen more crypto-mining operations than most on the continent, is looking to regulate the industry.

Bybit partners with Riskbloq to integrate crypto trading for users

Riskbloq CEO says regulatory clarity in South Africa is helping more investors pivot to crypto assets.

Report: Crypto leads biometric fraud in Africa; digital identity offers hope

The report also found that the African crypto industry witnessed the most cases of identity fraud compared to other industries.

Expert warns that banning bitcoin mining could hurt crypto adoption in Angola

However, he believes the Angolan government should merely regulate rather than prohibit all forms of crypto-mining activities in the country.

Cardano’s builder launch two-month blockchain training program in Nairobi

The training will focus on aspiring blockchain developers in Nairobi, Kenya.

African DeFi lenders need to partner with traditional institutions to scale, says Jia co-founder

Cheng Cheng, COO and co-founder of DeFi lending platform Jia, believes that support from big financial institutions will help scale DeFi loans in Africa.

Blockchain-based carbon credit project receives $250,000 investment from EMURGO Africa

The project, Changeblock, uses blockchain for carbon trading, letting companies offset excess emissions via verified reduction projects.

Nigerian bureau de change union asks the government to ban Binance

ABCON believes the continued operation of Binance in the country threatens the naira’s stability.

World Bank suspends funding to Uganda over anti-LGBTQ law

The bank said the law was in opposition to its values and goals.

PayPal launches stablecoin, but experts doubt it will make a difference in Africa

Experts have told Mariblock that the move makes little difference to the African payments ecosystem.

Angola moves to regulate virtual assets and ban cryptocurrency mining

The country’s decision-makers believe crypto mining is interfering with the country’s electricity supply system.

Visa’s crypto head: Blockchain reduces barriers to developing financial products in Africa

Sheffield also believes that blockchain abstraction in mainstream products will lead to more adoption.

Police raid Worldcoin’s warehouse in Nairobi

Authorities accused the company of failing to disclose its intentions during its registration process.

EMTECH secures $4 million seed investment

EMTECH currently works with six central banks, including Nigeria and Ghana, and is looking to expand into four more African countries.

World Bank suspends disbursements to Niger amid sanctions

The Bank cited political unrest in the country as the cause of the suspension of funding.

KPMG debunks misconceptions: Bitcoin’s environmental impact is less severe than believed

The Big Four firm highlighted Bitcoin’s environmental, social and governmental advantages in a report.

RBZ’s CBDC set to be used for transacting in a month

The bank hopes to use the CBDC to tackle hyperinflation in the country and provide an alternate store of value for Zimbabweans.

Namibia insists cryptocurrencies are not legal tender

The Bank warns that individuals using virtual assets will take full responsibility for such transactions.

Kenya now has a Bitcoin Lightning Network node

The node is the fourth Lightning node launched by the group, with the goal of enabling faster Bitcoin payments in Africa.

Kenya suspends Worldcoin’s activities over safety and privacy concerns

The country’s Capital Markets Authority also cautioned citizens against dealing with the entity.

Non-custodial wallets: the future of crypto security

White also mentioned that several traditional global institutions that have explored blockchain research over the past few years have not shut down their investigation.

More African countries should consider crypto regulations — Yellow Card CEO

Chris Maurice said these regulations should encourage innovation so that economies do not remain stagnant.

Blockchain will transform cross-border remittances in three years: Ripple survey

Most African and Middle Eastern respondents to the survey also believed that most merchants in their regions will accept payments in crypto.

Egypt launches new ‘high interest’ dollar savings certificate

These certificates are valid for three years and available to Egyptian nationals or foreigners with a minimum deposit of $1000.

Nigeria’s SEC declares Binance illegal, halts all crypto solicitations

The latest statement follows a Mariblock exclusive that detailed the events leading to the SEC’s June 9 circular.

Kenya’s government warns citizens against Worldcoin amidst rush to signup

The warning comes amidst the rush by Kenyans to get scanned by a Worldcoin orb and get registered on its network.

Momint integrates voucher payment into blockchain wallet

Momint joins the likes of Pick n Pay, which also allows customers to pay for items using cryptocurrency.

6 takeaways from Empowa’s Glen Jordan World Bank Discussion

Glen Jordan, CEO of Empowa shared details about his company’s operational model with global industry experts.

Coinbase-backed Mara introduces an Ethereum layer-2 testnet

The company had initially planned to launch a layer 1 blockchain last year. Instead, it’s now introducing an L2, dubbed Mara Chain, “in response to evolving blockchain industry trends.”

Honeycoin taps MoneyGram to expand crypto-to-fiat capabilities

The partnership is aimed at facilitating cross-border transactions using both cryptocurrency and fiat currencies in multiple countries.

Namibia’s crypto regulatory bill signed into law

This comes a month after the country’s parliament passed the bill and forwarded for approval

Dimitra partners with OMA to improve blockchain offering in East Africa

Farmers in Kenya would have access to Dimitra’s tech stack to enhance avocado production.

EMTECH releases Web3-enabled CBDC innovation kit

The kit provides the tools to develop and test new CBDC-based products and services.

Worldcoin goes live, expands orb access across 35 cities

Despite concerns about the privacy of the technology, the company aims to quintuple its registration capacity worldwide, including in two African cities.

Bitmama’s fintech app Changera integrates MoneyGram Access

With the MoneyGram integration, Changera introduces a new on-ramping and off-ramping experience by allowing users to convert cash to crypto and vice versa.

World Mobile partners with Conflux blockchain to drive expansion into new markets

Conflux’s blockchain-based SIM card development will also be a key part of the collaboration which could see the SIM cards integrated into World Mobile’s network.

Exclusive: The story behind the Nigerian SEC’s recent circular on Binance

Maribock reveals the details of the events surrounding the Nigerian SEC’s June 9 circular about Binance for the first time.

BTCM: Kenya’s latest crypto mining Ponzi Scheme collapses, leaving investors empty-handed

This is the latest in a long list of Ponzi platforms promising bogus ROI fleeing with investors’ money.

Economist urges Zimbabwean government to consider paying civil workers in gold

Zimbabwe's government has been urged to pay civil servants with gold-backed CBDC and coins amid plunging economy.

IMF warns that unregulated cryptocurrencies could threaten financial stability

The IMF has previously shown its disapproval of cryptocurrencies and other digital assets and has called for their regulation and control.

Standard Bank wants to be a fast follower of crypto, not a leader

“We move with the world, but you don’t want to be leaders on some of these things. You want to be fast followers,” the bank CEO said.

Telegram merchants can now accept crypto payments with new in-app feature

The new Wallet Pay feature provides crypto payment transactions between users and retail businesses, enabling direct payments within the telegram interface.

Nigeria’s oil sector looking to attract billion-dollar FDI

Nigeria recorded $47.60 million in FDIs for the first quarter of 2023, signifying a 69.28 percent year-on-year decline.

WorldRemit expands Nigerian remittance services to include naira payouts

This comes a few days after the CBN directed that IMTOs could pay out in Naira.

Crypto crime falls 65% in 2023, ransomware revenue still high

Based on the report, revenue is down across all aspects of crypto crime except, ransomware, which is on an upward trajectory like 2021, the year it rose to prominence.

Central Bank of Nigeria upgrades eNaira with NFC feature

A deputy director with the bank said the CBN has introduced Near Field Communication (NFC) technology to enable contactless payments with the eNaira.

Tanzania Secures $195 Million Budget Support from European Union

President Samia Suluhu said the grants would accelerate the implementation of development programs in the country.

A conversation with EchoVC on its $8 million blockchain fund and the firm’s crypto thesis

Having recently launched its $8 million pilot blockchain seed fund, EchoVC says it is interested in funding companies that train and foster blockchain talent in Africa.

DeFi engineers' earnings are on the rise despite crypto winter

The lucrative compensation packages in the sector are a direct consequence of a shortage of specialized talent.

Uganda’s parliament is working on a bill to regulate virtual assets

The East African country is now looking to provide regulatory clarity for virtual assets and cryptocurrencies after initial hostilities.

Diaspora remittances can now be received in naira — CBN

The move is the latest in a series of policies implemented by Nigeria’s new administration.

Uganda becomes Kenya’s fastest-growing source of diaspora remittance

With the Kenyan shilling depreciating, Kenyans in Uganda are finding it more profitable to send money home.

Crypto gaming is not dead; the previous models were just flawed, MVM CEO says.

Yemi Johnson, the CEO of Nestcoin’s recent spinoff, Metaverse Magna shares his two cents on the mistakes of former play-to-earn models and the future of crypto gaming in Africa.

BIS highlights cybersecurity risks, proffers framework for ‘secure’ CBDC systems

BIS says a security breach in a CBDC system could erode public confidence and trust in the digital currency infrastructure and the central bank involved while leading to a ripple effect of damage.

‘Cryptocurrency ban still in effect’ Ghana’s finance ministry

All financial institutions in the country have received fresh instructions to refrain from engaging in crypto-related activities.

‘Crypto could revolutionize finance’ BlackRock CEO

Larry Fink, CEO of BlackRock and previous skeptic of cryptocurrencies says Bitcoin can revolutionize finance, weeks after proposing a controversial Bitcoin ETF.

South African financial regulator mandates licensing for crypto exchanges

Crypto firms that continue to operate unlicensed beyond this deadline may face stringent enforcement actions, including possible closures or fines.

Sega makes U-turn, pulls back from blockchain gaming

The company, otherwise regarded as one of the top advocates for blockchain gaming is now being cautious to not devalue its franchise

Ripple Labs exploring real-world use cases of CBDCs and stablecoins

The company has proposed a system to tokenize real estate assets and use them as collateral for loans.

Nigeria shows the highest crypto interest in Africa — CoinGecko study

Nigeria was previously ranked as the most crypto-curious country in the world.

25 of 130 countries exploring CBDCs are in Africa — Report

Nigeria is still the only country in Africa to have launched a CBDC while others are cautiously progressing.

Nigeria and South Africa lead Consensys study on crypto recognition

In Nigeria, 99% of those surveyed knew about crypto, and over 70% understood what a blockchain is.

Nigeria’s new economic reforms an opportunity to achieve growth — World Bank

However, the bank advised that measures must be put in place to protect low-income households.

Kushite East Africa launches web3 hub to drive blockchain adoption

The hub is also focused on training and collaborating with aspiring and existing web3 software developers in East Africa.

Botswana gets more diamonds from De Beers after protracted negotiations

The agreement gets Botswana an increased 30% fee of De Beers diamond mining.

IMF set to decide on Zambia's extended credit facility

Upon board approval for the first review of the ECF arrangement, Zambia is expected to receive $188 million from the IMF.

Namibia passes law to regulate cryptocurrencies despite central bank’s contrary stance

Despite the new development, the Bank of Namibia still maintains that cryptocurrencies have no legal tender status in the country.

The eNaira can now be used for remittances — CBN

The move is aimed at driving adoption and providing an alternative for Nigerians to receive remittances.

Institutes urge Ghana's government to utilize blockchain technology

The organizations advised the government to deploy blockchain technology to reduce corruption, conduct elections and reduce financial leakage.

Libyan authorities clamp down on bitcoin mines

Libyan government has attributed bitcoin mining to the frequent power cuts in the country.

Tokenization is promising but decentralized cryptos are flawed — BIS

According to the BIS, cryptocurrencies do not have the same level of trust as regular money issued by central banks.

Tanzanian central bank calls for the de-dollarization of local market

The government banned the use of USD in August 2007 and again in December 2017.

RBZ finalizes P2P platform for gold-backed CBDC

The move is aimed at reducing the demand for US dollars and providing an alternative currency and store of value.

IMF presents CBDC system to solve cross-border remittance issues

The system will not be built on public blockchain, as it is considered unsafe, costly and energy-consuming.

Morocco's central bank governor calls for caution in dealing with CBDCs

Jouahri emphasized the pressing need to thoroughly examine CBDCs.

Ghana’s economy shows signs of improvement, but debt restructuring is crucial — IMF

The global lender reiterated that the country needs to restructure its debt profile to fully enjoy the benefits of the IMF’s bailout.

Nigerian startup, Nearpays wins fintech and blockchain prize at Gitex Africa

Nearpays simplifies online payments by helping users to regain control over point-of-sale transactions.

Saudi-Based blockchain firm IR4LAB extends operations to Africa

According to the firm, the decision is driven by a dedication to the continent and its plan to foster innovation in advanced technologies.

Bitcoin fraud suspect denied bail in Zimbabwe

The suspect allegedly duped an eye specialist of $457,000 worth of cryptocurrency between October 2021 and March this year.

Jia CEO Zach Marks: Bridging Africa’s MSMEs financing gap with DeFi lending

Marks’ experience working on expanding financial access in emerging markets enables Jia to support small businesses in Africa.

Egypt explores BRICS membership, plans to ditch US dollar for trade with BRICS nations

The country seeks to conduct international trade in the local currencies of BRICS countries.

Bank of Tanzania admits to dollar shortages but claims it's not a crisis

Foreign exchange reserves had decreased to $4.9 billion by May 2023 from $5.5 billion in May 2022.

Nigeria’s SEC warns against ‘Binance’ — just not that Binance

The Nigerian capital market regulator says “Any member of the investing public dealing with the entity is doing so at his/her own risk.”

World Mobile successfully completes telecom field tests in three African countries

The system used new technology different from the one deployed in Zanzibar, where it was originally launched.

Mara partners NITDA to train government workers on blockchain technology amidst layoff controversy

The firm has conducted two rounds of layoffs within a span of six months, sparking concerns.

There’s an opportunity for crypto to serve a larger slice of the market and impact everyday people – DFS Lab

Joseph Benson-Aruna of DFS Lab is optimistic about the future of crypto use cases in Africa.

Peer-to-peer exchange Paxful welcomes new interim CEO

The exchange resumed operations some weeks ago after it shut down due to internal issues.

World Mobile launches commercial network in East Africa

The new feature allows Zanzibaris to enjoy mobile data that is 50% cheaper than the national average.

CAR’s parliament passes law on tokenization of its resources

Non-nationals of the country can now hold rights to the country’s mineral resources by investing in the Sango coin.

Six takeaways from Njoku of Lazerpay’s interview with the Crypto@Scale podcast

In his first interview since the company shut down, Njoku Emmanuel talks about how regulation, high burn rate and his misunderstanding of being product-led played parts in the Lazerpay story.

Institutional involvement could help crypto remittances take off in Africa, Yellow Card CEO says

Yellow Card recently partnered with Jack Dorsey’s Block to facilitate crypto-based remittances in 16 African countries. CEO Chris Maurice sat with our lead editor Oluwaseun Adeyanju to discuss the partnership and why Block’s involvement could be what helps crypto remittances scale on the continent.

Sub-Saharan African currencies have plunged 8% in one year amidst soaring public debts and global uncertainties: IMF

The depreciation has contributed to rising inflation in the region. Notably, inflationary pressures do not decline when local currencies strengthen against the US dollar, IMF says.

Busha launches crypto payment service despite category headwind

Busha Commerce’s timing stands out, given the recent trends around African crypto payment companies.

Ghana secures approval for $3 billion IMF loan facility

This comes weeks after Ghana met IMF’s condition of finalizing a zero-finance agreement with the Bank of Ghana.

DeFi lending is taking shape in Africa as Jia raises $4.3 million in funding

The platform has now gone live in Kenya and the Philippines, with sights set on West Africa, Latin America and Asia.

CBDC is not a priority, says the Central Bank of Kenya

The bank said Kenya’s payments problems could be solved by other measures besides launching a CBDC.

Q&A: Blockchain Association of Kenya offers a breakdown of proposed tax bills

Kenya has proposed at least three crypto-related tax bills over the past year — two since April 2023. Here’s what these proposals mean for you.

Report: Nigeria and Morocco among top 10 countries interested in meme coins

Nigeria ranked 5th in the table, ahead of Australia, New Zealand and Canada. Morocco ranked 10th.

Why Jack Dorsey’s $30 billion empire is betting big on Africa

During Block's most recent earnings call, CEO Jack Dorsey listed the Global South, which includes Africa, as one of the three trends the company is “focused on.”

France national who purchased Ferrari with bitcoin in Morocco gets an 18-month jail term

The accused, who claimed ignorance of the ban on cryptocurrency in the country, was also directed to pay fines of up to €3.8 million.

IMF and other experts caution against Zimbabwe’s adoption of gold-backed CBDC

Experts say public distrust in the Zimbabwean dollar as a store of value could also be transferred to the newly introduced CBDC.

IMF disburses $153M to Tanzania for budgetary support

This comes after the international lender says it has concluded the first review of an extended credit facility request by the East African country.

Nestcoin spins off crypto gaming project MVM as part of a larger restructuring move

Metaverse Magna (MVM) also has a new CEO who is looking to grow the company via its new gaming platform Hyper.

Five African projects got at least $10,000 from HRF’s Bitcoin Development Fund

In all, 12 beneficiaries received $455,000 in grants.

P2P bitcoin platform Paxful resumes operations after month-long hiatus

The platform initially suspended its marketplace due to concerns over regulations and internal instabilities.

Mauritius plans to pilot a CBDC before the end of 2023

The country’s central bank says it is considering rolling out the digital rupee pilot phase as soon as November — after a sandboxing exercise

Inflation in Africa: Latest data shows worsening figures across the board

Figures show 50% of countries with available data experienced an increase in consumer prices in March.

CBDCs, like the eNaira, are potentially risky, IMF official says

The IMF MD believes retail CBDCs may result in “unforeseeable” results for central banks.

South Africa-based USSD bitcoin transfer service launches in Ghana

The service will allow Ghanaian users without internet access to send and receive bitcoin.

Fedi secures $17 million in funding to drive bitcoin adoption via communities

Built on the closely named open-source protocol, Fedimint, Fedi allows people in the global south to overcome the technical challenges of safely using bitcoin.

Nigeria approves national blockchain adoption policy over two years after initial draft

The approval means blockchain technology can now be institutionalized into the Nigerian economy and security sectors.

Nigeria’s SEC is willing to license asset-backed tokens but not crypto

The Nigerian Securities and Exchange Commission's continued decision to exclude crypto assets casts shadows on hopes that the CBN might change its stance on crypto anytime soon.

Kenya plans to tax cryptocurrency exchanges despite the central bank’s unfriendly stance

Crypto exchanges in Kenya will soon be mandated to pay a 1.5% duty on every commission received by Kenyans.

Crypto exchange Roqqu receives regulatory approval to operate in South Africa

The exchange can now offer deposits and withdrawals in the South African Rand (ZAR)

Can blockchain solve Africa’s worsening housing shortage? This startup thinks so

Blockchain company Empowa has used NFTs as a fundraising vehicle to grow Mozambique’s home loan market by 5%. It is now looking to expand across Africa.

Nigerian man wins one bitcoin, worth $29,000, in Yellow Card’s lucky draw competition

The competition, dubbed ‘A Whole in your Wallet,’ featured participants from 10 African countries.

Zimbabwe plans to launch gold-backed digital currency to counter hyperinflation

This is the latest move by the bank to battle runaway inflation, a depreciating currency, and a dollarized economy, and it is coming amidst controversy in the country’s gold sector.

Adaverse leads fundraiser for blockchain-based FMCG authentication startup

The startup, Chekkit, provides end-to-end monitoring and tracking of pharmaceutical products. The fresh capital will be used for expansion and hiring for senior roles.

Why the Nigeria-China currency swap deal has failed to stabilize the naira

The deal was to reduce the demand for U.S. dollars and strengthen the value of the naira.

Zebedee and Bitnob partner to help African gamers earn bitcoin rewards

African users will be rewarded in satoshis when they play games or listen to podcasts on the gaming app. They can convert the rewards to their local currency through Bitnob.

A new report says African blockchain firms raised $474 million in 2022, but the methodology is questionable

South Africa, Liberia and Kenya led Nigeria for total funding. MFS Africa, Valr, Jambo, Ejara all feature in the report.

CBN preaches eNaira adoption to Nigerian university

The eNaira could potentially be used to pay salaries of federal workers, a CBN official said.

Lagos state, Nigeria, to consider incorporating blockchain education into school curriculum

The government of Lagos — Nigeria’s bubbling tech and business hub — continues to make promises to support blockchain.

Ethiopia and Kenya join Ghana in seeking IMF bailout

The three African countries are requesting loans to restore financial stability, worsened by the covid-19 pandemic and global supply chain crunch.

Zambia to finish testing cryptocurrency regulatory technology by mid-year: Reuters

The southern African country hopes to develop regulations that promote innovation while keeping citizens safe.

How blockchain is being used to address low mobile internet access in Africa

A recent World Bank report found that mobile internet access can alleviate poverty. Yet, Africa lags in internet use. Some blockchain companies are trying to fix this.

Crypto company Fonbnk taps Tanda to launch airtime trading marketplace in East Africa

Fonbnk claims that this collaboration marks a significant financial inclusion breakthrough in Africa.

Jack Dorsey’s Block partners with African crypto exchange Yellow Card

The partnership is to facilitate cross-border payments in Africa based on Block’s infrastructure.

Worldcoin, co-founded by ChatGPT’s Sam Altman, expands into mainstream Kenya, but security and privacy concerns lurk

The controversial app, which promises to give people crypto for their identity via an eye scanner, has now fully launched in Kenya and features a P2P exchange.

Crypto payments company Lazerpay shuts down operations due to funding crunch

The company joins a growing list of African companies closing shop as the crypto winter lingers.

Tunisia rejects IMF’s requests to remove subsidies on basic goods

President Kais Saied said he will pay no attention to foreign “diktats”

5 billion reasons Africa needs to ditch the U.S. dollar for cross-border trade

Although the U.S. accounted for less than 10% of Africa’s total trade in 2019, nearly half of Africa’s trade is settled in U.S. dollars. The mismatch in commercial and payment flow cost Africans $5 billion yearly, Kioneki writes.

Nigerian venture capital firm EchoVC launches an $8 million blockchain fund

The firm aims to fund solutions across multiple areas of blockchain use cases.

Swiss-based CV Labs selects three African startups for its accelerator program

Six other startups were also selected to be a part of the program

Blockchain property tech startup raises $400,000 in funding

African startup HouseAfrica has raised investment from Future Africa, CV CV and others to push its new product Sytemap.

Zimbabwe cuts lending rate for the second time in 2023

Zimbabwe becomes the second African country to drop lending rates for the second time this year, after Angola.

Empowering creatives: How blockchain is helping to bridge the gender gap in the music industry

“I started Qlip in 2021 because I had used Steemit and Emanate, and I thought, ‘How can I fuse blockchain and music?’ It was then that I began to understand what NFTs are. I found out that NFTs can ... help artists to raise funds.”

Breaking gender barriers: female crypto founder advocates for education and opportunities for women in the industry

The co-founder and CEO of Bitmama, Ruth Iselema refuses to attribute her struggles as a female founder to any gender-driven narrative. For Iselema the most important thing is education and actively providing opportunities for more women to enter the space.

Crypto-friendly Seychelles is developing policy to rein in digital asset companies: Report

The country's finance minister says complaints about crypto activities in Seychelles are increasing.

Peer-to-peer bitcoin exchange Paxful suspends operations amid cofounder legal troubles

CEO Ray Youssef announced the news via a website statement, noting he is unsure whether operations will resume.

Crypto exchange Bybit partners Nigeria-based Innovation Growth Hub for blockchain education

“Our goal is to give young people the knowledge and skills they need to understand and engage with blockchain technology,” a Bybit spokesperson said.

Consenys’ Monica Singer speaks passionately on blockchain-enabled female financial inclusion

According to Singer, the permissionless nature of blockchain allows women to get around historical socio-cultural norms.

Communities are powerful for getting more women into blockchain: Web3Ladies founder Oluchi Enebeli

Enebeli’s community has been instrumental in increasing African women’s participation in the blockchain space.

Stellar Network and DFS Lab launch fund to support African fintech startups

The fund will back startups building digital payment solutions on the Stellar blockchain.

Bank of Ghana delays CBDC launch due to the ‘dislocation of the economy’

The pilot of the project was successful but other factors have been responsible for the silence on the launch.

Leading Zimbabwean trade body warns against full dollarization of the economy

76% of government spending is in U.S. dollars and could cause damage to Zimbabwe’s economy long term, the Confederation of Zimbabwe Industries wrote

Fostering gender equality through blockchain: the power of community and collaboration

“The definition of blockchain itself is gender equality,” Oluchi Enebeli.

Central African countries to ditch French colonial currency

The move follows widespread calls for a change of currency and to end French representation in key decision-making bodies

Pan-African bank Absa wants to digitize trade finance with blockchain

The bank will be able to adopt a digital process for issuing letters of credit

eNaira transaction volume climbs 63% amidst cash crunch in Nigeria

The governor of the Central Bank of Nigeria attributes the increase to the government's welfare program.

Central African Republic to review law that makes bitcoin a legal tender: President Touadera

He said his country has no intention to leave the Economic and Monetary Community of Central Africa (CEMAC) and will therefore not go against its rules.

EU warns Tunisia over deteriorating economic and political situation

The economic crisis worsened following the suspension of the World Bank's new lending to Tunisia.

Cardano-focused Adaverse invests in Cameroon-based crypto company Ejara

The platform helps French-speaking Africans access crypto saving, investment and cross-border payments.

Inflation in Africa: Many countries continue to witness historically high consumer prices

While some countries recorded improved inflation figures, the cost of living across the continent remains prohibitively high.

Reserve Bank of Zimbabwe says CBDC project is progressing ‘steadily’

Its call for public opinion on the project had received 2,286 responses as of January 2023.

Nigeria launches a $618million fund for the tech and creative sectors

The fund was launched in collaboration with the African Development Bank and other private sector stakeholders.

‘CBDCs are potentially useful,’ says Standard Bank’s chief executive

However, he does not share the same optimism about privately generated cryptocurrencies.

ConsenSys partners with MoonPay to enable crypto purchases in Nigeria directly in MetaMask

The new feature allows users in Nigeria to buy crypto without setting up a centralized exchange account. But appears to be more expensive than using an exchange.

Cryptocurrency scam ring busted in Egypt

The scammers had reportedly netted about $620,000 from investors

Nigeria’s president-elect vows to introduce blockchain into banking and other sectors

In his manifesto, Bola Tinubu, who was declared the winner of the recently concluded general elections in Nigeria, outlined plans to implement the technology in banking and finance, identity management and revenue collection.

Art, gender and blockchain: How the permissionless technology is leveling the playing field

While both men and women contribute to art, opportunities remain unequal for the latter. Thanks to its permissionless nature, blockchain can potentially drive inclusiveness in the creative industry.

Nigerian governor pledges to support the blockchain industry ahead of gubernatorial elections

Governor Sanwo-Olu promised to promote the growth of tech and blockchain — “including crypto in Lagos State.”

Blockchain can close the gender financial inclusion gap in Africa: Consensys’ Monica Singer

Singer believes blockchain's permissionless, decentralized, and self-sovereign nature helps eliminate some of the barriers to women’s financial inclusion in Africa.

Gender plays little role in becoming a successful African female crypto founder: Ruth Iselema

According to the Bitmama CEO, her struggles being a female founder had more to do with knowledge gaps rather than her gender.

Cardano-focused accelerator Adaverse invests in Nigeria's BoundlessPay

BoundlessPay joins a growing list of beneficiaries of Adaverse’s investment. Some other recipients include Afriex, Afropolitan, Bitmama, Canza Finance, Ejara and Stakefair.

Crypto exchange Luno works with South African advertising board to issue new rules for crypto adverts

The clause seeks to protect South African consumers against unethical advertising in the crypto industry.

Yellow Card signs Nigerian artiste Psycho YP as brand ambassador

The cryptocurrency exchange is looking to tap into the growing African music audience for customer acquisition.

Luno lays off 35% of its workforce

The layoffs result from a downturn in the tech industry and shocks in the crypto market.

Top South African retail store now accepts payments in bitcoin across all branches

Pick n Pay’s decision to accept bitcoin payments come amidst an increasingly crypto-friendly posture from the South African government.

IMF tells Ghana to stop borrowing from its central bank: report

The West African country must do this to access the loan it requested from the International Monetary Fund.

Exclusive: How blockchain is processing $1 million worth of ATM transactions daily in Nigeria

A look behind the scenes detailing how Zone Network’s blockchain solution is processing millions of dollars in ATM transactions for four Nigerian banks.

Rwanda cracks down on illegal crypto sale, prosecutes former MD of microfinance institutions

He faces up to 10 years in prison for illegally advocating for and taking investments in BITSEC

How bitcoin is keeping Africa’s oldest national park from going under

The Virunga National Park, caught amidst ongoing conflicts, has struggled to attract tourists, its main revenue source. Now, bitcoin is provided a lifeline.

60% of African countries recorded lower consumer prices in December

Further contractions in consumer prices suggest that central banks’ tactics to curb inflation are productive.

Binance Charity and Utiva award tech scholarships to 1,000 Africans

The young scholars will gain year-long access to courses curated by Utiva on the Binance Academy platform.

Fact check: Bitcoin is NOT trading at a 60% premium in Nigeria

A narrative has been doing the rounds that bitcoin is trading at a significant premium in Nigeria. A deeper look at how FX works in Nigeria reveals flaws in the bitcoin premium story.

Binance Charity to provide free Web3 training to women in rural South Africa

The training will cover topics such as cryptocurrencies, blockchain fundamentals, Web3, coding, the metaverse, and decentralization.

Central African Republic to create a crypto legal framework

The bill will help to create a friendly business environment, says President Touadera.

Tanzania adopts a ‘cautious’ approach to CBDC following preliminary research

The Bank of Tanzania is researching CBDCs and has yet to decide if the East African country needs a digital shilling.

Nigeria's first active Bitcoin Lightning node launches in Lagos

The new node, dubbed NigeriaFreeRouting, improves the accessibility of payments via the Lightning Network for bitcoin users in Nigeria.

Nigerian exchange Roqqu receives virtual currency license

The license allows Roqqu expand its operations to over 28 European countries.

Nigeria to implement legal frameworks for stablecoins and ICOs

The CBN highlights the importance of having a legal framework for stablecoins in a new strategy paper.

Morocco has developed a draft law for regulating crypto: report

Bank Al-Maghrib worked with the World Bank and the International Monetary Fund to develop the draft law.

Kenyan financial regulators are considering developing crypto rules

Five financial sector regulators, including the country's central bank and capital markets regulator, will set up a working group to develop crypto regulations.

Nigerian legislators considering bill to recognize bitcoin and other cryptocurrencies

The bill, if passed, will define the role of various local regulators. But questions are being asked of why industry participants have not been consulted

Six of eleven African countries reported an inflation rate drop in November

African consumers are beginning to see steadier prices as 2022 nears its end, according to the latest inflation figures.

Bitcoin-powered remittances from Europe to African bank accounts are now possible

African cryptocurrency company Bitnob has partnered with European exchange CoinCorner to facilitate remittances over the Lightning Network.

Kenyan lawmaker introduces crypto taxation bill

Cryptocurrency exchanges and traders in Kenya will be required to pay tax on every transaction if the bill is passed.

Report: Nigeria plans to tax crypto transactions in 2023

Nigeria follows in Kenya’s footsteps to tax cryptocurrency transactions.

South Africa adds crypto businesses to ‘list of accountable institutions’

Crypto entities join banks, estate agents, and dealers in foreign currency on the list of accountable institutions in South Africa.

Strike partners with Bitnob to facilitate Bitcoin-powered remittances to Africa

Africans can now receive low-cost and fast payments in their local currencies, powered by the Lightning Network. But there are questions on whether the process introduces credit, a feature of the traditional remittance system.

The Nigerian government is unwittingly driving crypto adoption

Nigeria's apex bank recently limited cash withdrawals in a display of excessive force. It leaves citizens at the mercy of banks to access their money.

BIS survey finds differing motivations in African CBDC adoption

More than half of the surveyed central banks said the ability to provide cash in a digital form was the leading consideration for exploring CBDC.

Nigeria SEC to avoid cryptocurrencies in the push for digital assets

The commission will not consider cryptocurrencies despite the interest of a large percentage of citizens.

We changed our name

Meet Mariblock, formerly known as Crypto Africa

Crypto payments company Lazerpay downsizes its team amid struggles to raise funding

CEO Emmanuel Njoku revealed in a letter to investors.

October 2022 inflation report: Consumer prices are rising at a slower pace in many African countries

Zimbabwe’s inflation has slowed for the second consecutive month as East African countries report double-digit rates.

September 2022 inflation report: Food prices have become Africa’s main inflation driver

At least 16 countries on the continent reported inflation rates higher than 10% in Sept. Zimbabwe's inflation rate slowed from 285% in Aug. to 280.4% in Sept.

FTX contagion spreads to Africa as Web3 venture studio Nestcoin announces exposure to the failed exchange

The CEO says a significant portion of the company’s assets are held at FTX and will now have to lay off some employees.

FTX collapse: A timeline of events as they unfold

Documentation of the events around the failure of the cryptocurrency exchange FTX.

FTX ‘erroneously’ listed African crypto company BitPesa for bankruptcy

A representative of the company told Crypto Africa that FTX isn't a shareholder in BitPesa and its affiliated entities.

FTX files for bankruptcy as CEO Sam Bankman Fried resigns

The crypto exchange has appointed a new CEO as it scrambles to repay creditors, customers and investors. The group of companies will continue to operate normally and pay creditors over time according to Chapter 11 of the United States Bankruptcy code.

Bankman-Fried reportedly used billions in FTX funds to bail Alameda Research

This follows previous reports that FTX trades with users' funds.

Cryptocurrency exchanges are promising to publish proof-of-reserves

At least nine leading exchanges have made commitments to publish their reserve certificates following the insolvency fears at FTX.

Binance to acquire FTX.com in a shock-inducing move after a $6 billion liquidity crisis

FTX is said to be experiencing a “liquidity crunch.” Binance's decision to sell its FTT holdings had triggered a bank-like run on FTX. Read on for the details.

Five African projects receive grants from Interledger Foundation

The projects are to build financial services products on the Interledger protocol.

Nigerian blockchain association launches BACFID to support local innovators

The platform seeks to provide access to funding and support to local blockchain and crypto entities.

Fear of scams and lack of information plagues Web3 gaming, survey reveals

Coda Labs surveyed 6,921 people from five countries to determine their perception of crypto, NFTs and Web3 gaming.

Central banks need to adopt blockchain technology, says Nigeria’s vice president

He also encouraged Nigerian regulators to develop policies and regulations that foster the development of the crypto and blockchain space

Nigerian blockchain association asks Nigeria’s central bank to review its anti-crypto directive

The association also urged the regulators in the country to adopt a multi-stakeholder engagement strategy to develop progressive policies and regulations.

Buycoins parent company Helicarrier acquires stake in crypto savings app Accrue

Accrue was founded by ex-Helicarrier employees, and Helicarrier was the first investor in Accrue.

Lightning Network is being used to receive payments for Africa Bitcoin Conference

The tickets can be bought digitally on the official ABC website.

Luna founder Do Kwon faces passport freeze in Korea

Korean authorities have tried to arrest Kwon, whose project triggered an $880 billion crypto market crash.

Namibia’s central bank says bitcoin can be used for payments

The Bank is also looking to develop “progressive” regulation for the use of cryptocurrency in the Southern African country.

Market wrap: bitcoin dips slightly, while ethereum edges higher

Stocks were down on Thursday. Major altcoins also dipped.

Twitter co-founder Jack Dorsey will speak at the Africa Bitcoin conference in December

The event is scheduled to hold in Accra, Ghana in December.

Nigeria beats Kenya in Mara’s blockchain hackathon

The participants built USDC-enabled payment tools that use M-PESA and USSD as on- and off-ramp rails.

Middle East and North Africa’s crypto markets grew more than any other region in 2022

Egypt and Morroco make the top five for transaction growth in the region.

Good morning crypto: bitcoin, ethereum flattens as US job data indicates a growing economy

The top altcoins are also relatively flat, with most of them up by fractions of a percentage.

Market wrap: bitcoin and other crypto held steady on Wednesday

Bitcoin dips slightly as investors continue to await central bank interest rate decisions.

Lekki Free Zone is in talks with an American company to adopt blockchain

The potential partnership could see the creation of a virtual free zone with the LFZ area.

Telegram @wallet bot now allows users to trade crypto in-app

The bot lets users buy, sell, receive and send cryptocurrencies without leaving the messaging application.

Mastercard launches tool to fight cryptocurrency fraud

The software would identify the riskiness of crypto exchanges, an information that card issuers can then use to approve or decline transactions.

Market update: bitcoin holds steady above $20K on expectations of interest rate pivot

Risky assets such as bitcoin, ethereum and stocks could benefit from slowed monetary tightening.

Kenya’s central bank governor: ‘A lot of people have been pushing me to put our reserve in bitcoin’

Njoroge told the country's legislators during a recent induction retreat in Nairobi.

August inflation watch: High food prices plague African countries

Zimbabwe continues to experience hyperinflation while other countries on the continent struggle to rein in rising consumer prices.

Binance picks two Africans for its new global advisory board

"The GAB represents the next big step forward in our journey to share the benefits of modern finance and the blockchain with the entire world," said CZ.

Central Bank of Egypt sends reminder about cryptocurrency ban

The Egyptian apex bank warns against dealing with any kind of cryptocurrency through regional and international platforms.

The Central Bank of Nigeria partners with Clickatell to launch an eNaira USSD channel

The CBN hopes to boost the adoption of its central bank digital currency by making it easily accessible to feature phone users. Existing data suggest that most Nigerians use feature phones.

Pan-African Crypto Exchange Yellow Card Secures $40M in Series B Funding Round to drive business growth, expansion and strategic partnerships

The company has now raised a total of $57 million, more than any crypto company on the continent has received to date.

Nigerian agency seeks partnership with Binance and Talent City for West Africa’s first virtual economic zone

The partnership could see Nigeria host a cryptocurrency-friendly free zone.

State of Digital Assets, Africa: August 2022

In this edition: South Africa's central bank is showing its counterparts on the continent how regulation is done; DeFi can be very important to plugging our financing gaps — and a few are innovating in that direction already.

July inflation watch: African countries continue to grapple with high inflation

At least 15 African countries reported inflation rates of over 10%. Zimbabwe continues to experience hyperinflation.

Cardano's developer IOG invests in Kenyan fintech Pezesha

The participation of blockchain-focused entities suggests that the fintech company now employs decentralized finance protocols as a source of debt finance.

Central African Republic’s top court rules Sango Coin ‘unconstitutional’

The verdict follows a petition filed by a local civic group, which opposes the sale of the country's resources.

The Central African Republic hosts workshop to sensitize stakeholders about its digital initiatives

The event is taking place in the capital city of Bangui on Aug. 24 and 25.

A malicious Chrome extension could swap your crypto address with an attacker’s address

The suspicious Google Chrome web extension was found by the security team at cryptocurrency exchange KuCoin.

Reserve Bank of Zimbabwe has developed a CBDC roadmap

As part of the roadmap, RBZ will conduct consumer studies to gauge public perception of CBDC.

Binance launches South African rand deposits

Binance users in the country will now be able to deposit and withdraw ZAR to and from their wallets

South African Reserve Bank authorizes financial institutions to serve crypto clients

The bank warns that denial of service to crypto companies may pose a threat to the country’s financial integrity.

Oops! eCedi will not be built on blockchain, Bank of Ghana says

A representative of the bank said its CBDC will use an unnamed "unique technology."

Algorand and Boston University want to increase access to machinery for African farmers

Algorand Foundation will provide funds for Boston University and an African agric-tech company to develop a blockchain-based application to connect farmers to tractor owners.

BlackRock enters the cryptocurrency market with its bitcoin private trust

The world's largest asset manager, in a backward flip, has changed its stance on cryptocurrency by offering its clients access to the growing digital assets market.

Overall cryptocurrency crime fell with the market, report finds

Blockchain analytics firm Chainalyis has published a study that provides insights into crypto crime activities.

Instagram expands NFT support to Africa

Creators across the continent will now be able to showcase their digital collectibles on the social media platform.

Nigeria's struggle to attract foreign investors explains blockchain moves by NGX

NGX is looking to use blockchain to lure younger investors as dwindling foreign participation carves a hole in the country's capital markets.

Coinbase partners with CryptoSavannah to build blockchain solutions for Uganda’s refugees

The Ugandan crypto company plans to build a blockchain-based identity system and crypto wallets to make it easier for refugees in the country to access financial services.

Morocco to introduce a bill to regulate crypto

The North African country is looking to use its upcoming bill to protect consumers and promote innovations in the country.

Ghana-based think tank launches blockchain research and advocacy center

Institute for Liberty and Policy Innovation, Ghana, is looking to influence public policy regarding blockchain through its new research house.

Survey: 13% of African companies plan to invest in crypto and blockchain

Deloitte's Africa CEO Survey Barometer study found that blockchain and crypto are among the top breakthrough innovations being considered by African institutions.

Celo is powering incredible DeFi use cases in Africa amid market turmoil

The blockchain network, designed to host decentralized solutions for financial inclusion, is piloting a DeFi loan program for smallholder farmers in Kenya.

Crypto makes progress in Africa, despite market crash

Cardano, Celo and Near blockchains are investing in grassroots crypto adoption in East Africa; Nigerian exchange to introduce blockchain trading.

Now is the time to understand bitcoin, the CAR's president says

The Central Republic of Africa adopted bitcoin as an official currency in April, and now plans to tokenize its natural resources.

Report: 72% of South African crypto users trust social media influencers

Released by KuCoin, the report also revealed that most crypto users in South Africa 'consider crypto to be the future of finance.'

Market Wrap: Bitcoin stabilizes following Fed rates hike

The cryptocurrency is in partial recovery, currently trading at just under $22,000. Experts say the rally is down to improved macro clarity.

Bitcoin drops amid heightened macro risks: Here's what you should know

Bitcoin and the rest of the crypto market are down as investors expect interest rates decision from the U.S. Federal Reserve.

Bitcoin and crypto markets are still crashing amid SEC insider trading inquiry

Bitcoin and Ethereum continue their free fall as macro and crypto market concerns spark flight for safety.