For an African trader, stablecoins are a medium to buy in and out of the market; for a freelancer, it’s higher pay and faster transactions; for organizations, it’s cheaper cross-border payments and faster settlement times. Stablecoins are efficient, but South Africa’s central bank just said it’s too efficient, citing how this particular digital asset threatens…
TL;DR, MTN MoMo generated $91.64 million (₦131.62 billion) in nine months, but 63% came from airtime lending, highlighting a need to diversify its core mobile money services. While telcos are losing the mobile money race to nimbler fintechs like OPay and PalmPay, MTN is recalibrating its strategy by focusing on quality users and ecosystem…
TL;DR, Citigroup and Coinbase are partnering to build a new system for institutional digital asset payments, forecasting stablecoins could support up to $200 trillion in annual transaction volume by 2030. Coinbase’s crypto stack plus Citi’s global network enables fiat-to-stablecoin conversion, payment orchestration, and programmable settlement for compliant, enterprise-grade rails. Citi forecasts $1.9–4.0T stablecoins by…
TL;DR, The CBN compliance department launched in Q1 2025 addresses Nigeria’s 45% surge in fraud incidents and $2 million in flagged suspicious cryptocurrency transactions through specialized financial crime supervision. Nigeria’s Central Bank restructured its regulatory framework to tackle cybersecurity vulnerabilities and digital asset risks through dedicated compliance oversight across all financial institutions. CBN mandates ISO…
TL;DR, Zimbabwe’s Zig Currency is backed by $100 million cash and 2.52 tonnes of gold worth $185 million, replacing a dollar that declined 70% this year. Â Interest rates dropped from 130% to 20% as Zimbabwe Stock Exchange and national payment systems quickly adopted the new gold-backed currency. Public skepticism remains high due to past monetary…
TL:DR, Crypto.com and Standard Chartered have collaborated in the UAE to offer Global Retail Services that enable seamless deposits and withdrawals of more than 250 cryptocurrencies. UAE’s supportive regulatory framework positions it as a hub for innovation in crypto banking and digital asset services. This partnership connects traditional banking with cryptocurrency, providing real-time transactions while…
TL;DR, Nigeria’s central bank officially denied issuing any fake CBN directive targeting crypto exchanges after documents circulated online claiming to freeze accounts linked to digital assets. The controversy revealed knowledge gaps in Nigeria’s crypto community, emphasizing the importance of verifying information through official channels rather than social media. The real action was a separate, court-approved…
TL:DR, The CBDC vs cryptocurrency landscape in Africa shows contrasting approaches: Nigeria launched Africa’s first CBDC (eNaira) on October 1, 2021, while Central African Republic adopted Bitcoin as legal tender in April 2022. Nigeria’s eNaira offers both physical cards and digital wallets for payments, while CAR froze its Bitcoin legal tender implementation in July 2022 to develop…
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