In Brief Digital asset regulation anchored in research will close cross-border loopholes and standardize crypto reporting for Ghana. Resource-Based Monetary Sovereignty (RBMS) proposed, focusing on tangible assets over foreign currency debt. A potential dCedi model would be redeemable for specific commodities, shifting focus to store of value. The Bank of Ghana has taken…
South Africa rejects exchange control exemption for SARB-led crypto framework after Judge Motha rules “cryptocurrency is not money.” Financial Regulators Steering Committee establishes CASP cross-border reporting closing 1961 Exchange Control loopholes. FICA subjects Luno, VALR, Binance to AML/CFT/CPF as Luno flags onshore/offshore gap hindering institutional adoption. Framework resolves “money” vs “capital” dichotomy within year
Born from LazerPay’s shutdown frustration, Blockradar now processes $100M+ in stablecoin transactions with non-custodial wallet infrastructure that feels custodial. COO Morgan Williams, veteran of Coinbase and Coins.ph, empowers African fintechs to offer embedded crypto wallets without complex builds. Founded by Abdulfatai Suleiman after “opinionated” providers blocked his vision, Blockradar tackles Africa’s remittance challenges across Nigeria-Kenya-Asia corridors.
Kenyan fintech HoneyCoin raises $4.9M led by Flourish Ventures to tackle Africa’s $329B cross-border market. Processing $150M for 50 enterprises and 360K users, the platform uses AI-powered stablecoin rails for instant settlements. Holding MSB, VASP licenses across US, Europe, and Africa, HoneyCoin expands to Mozambique, Zambia, Latin America with Visa-backed debit cards and BaaS solutions driving stablecoin adoption.
Africa’s stablecoin adoption (43% crypto volume) outpaces Bitcoin (18.1%) as OTC trading delivers 106% annual growth and practical utility. Nigeria receives 40%+ Sub-Saharan stablecoin inflows; Ethiopia surges 180% YoY, Zambia tops 100%.
Quidax OTC desk cuts settlements from 5 days to under 1 hour with Nigeria SEC/Canada licenses while local stablecoins cNGN, cKES, ZARP facilitate cross-border payments. Buchi Okoro predicts “increased institutionalization” as regulatory frameworks mature across Kenya, Ghana, South Africa markets.
In Brief Fintech solutions in South Africa are driving inclusion with affordable payment systems, blockchain integration, and stablecoin adoption. Startups like Tata-iMali, TurnStay, Sticitt, and UsPlus are solving sector-specific problems—from informal trade to travel, education, and SME financing. The rise of localized, low-cost platforms is reducing fees, boosting efficiency, and opening access to underserved communities…
Base’s 7,500+ builders produced 1,250+ projects, now East Africa’s turn. The Based Founder Fellowship brings a 10-day program to Nairobi for blockchain startups with 1,000+ users. After African founders won $100K in Base Batches, this offers mentorship, VC access, and support. Focus: stablecoins, on-chain identity, AI contracts, self-custodial wallets for African markets.
In Brief CBDC implementation in Rwanda enters a proof-of-concept phase, focusing on offline payments, USSD access, and integration with existing systems. Selected banks, merchants, and institutions will test security, legal, and user-experience features over a five-month period. Public ideathons and consultations ensure the CBDC design remains inclusive, complementing, but not replacing, mobile money services. Rwanda’s…
$2.1 billion in suspicious crypto transactions exposed across West Africa, proof that anonymity and fragmented regulation fuel fraud at scale. Nigeria SEC champions ECOWAS-wide VASP licensing and AI-powered blockchain analytics to combat cross-border scams. Following CBEX’s $840M disaster affecting 300,000 victims, regulators are deploying investor education and unified frameworks. The verdict: single-nation oversight can’t stop regional criminals. Collaboration is survival.
Algeria declares war on crypto: Finance Law 2024 bans trading, mining, possession, promotion, everything. Article 31 BIS delivers 2-12 month prison terms and $3,700-$14,700 fines to protect the Dinar. Irony? Algeria ranks top 10 MENA for crypto volume yet moves opposite Morocco (now pro-adoption) and Nigeria (legalizing assets). The ban transforms digital assets from grey area to criminal offense. Africa’s crypto map fractures: adoption, restriction, or wait-and-see. Algeria chose isolation.
You must be logged in to post a comment.