Africa’s booming crypto ecosystem welcomes a new exchange platform MARA with backing from the likes of Coinbase Ventures and Alameda Research.
Africa is the second largest continent in the world in terms of both territory and population. There are 55 states located on the continent. Economies in Africa differs from country to country. In Africa, cryptocurrency tends to be sold with a large trade margin which can even reach 100% due to several reasons. Firstly, Bitcoin in Africa is very difficult to mine because of the climate and lack of infrastructure. Also, cryptocurrency is in big demand in Africa as national currencies are vulnerable to hyperinflation. Besides that, since there are only a small number of virtual currency retailers they are able to set high prices. The relative financial stability of digital money and the opportunities for profit make cryptocurrencies very popular in Africa.
A class of 2021 Bitcoiner in Mozambique is using the Lightning Network to transact while using Bitcoin to protect his savings.2549
Nigeria’s central bank has upgraded its eNaira to steer the country away from crypto even after a UN report stated that restrictions on digital currencies are stifling the nation’s fintech sector.3767
The Central African Republic adopting crypto puts monetary stability in “peril,” according to a letter from the Governor of the Bank of Central African States.3307
Africa’s top golfers are set to receive Bitcoin prize money after ground-breaking sponsorship of the Sunshine Tour.2649
The African nation will reportedly join a short list of countries to adopt cryptocurrency as legal tender.3640
The new crypto law would reportedly allow citizens to pay their taxes in crypto and allow the use of crypto as a form of payment for businesses.6601
Coorest and the PLCnetwork of the Southern Hemisphere believe that blockchain and NFT technology are a solution for protecting endangered wildlife and funding costly conservation areas.1629
After a TON ecosystem fund raised $250 million from a host of mainstream entities such as Huobi, Kucoin and MEXC, TON’s global adoption seems to be rapidly increasing.4032
Russia should deploy cryptocurrencies and CBDCs for settlement and payments with Africa, the president of the Chamber of Commerce and Industry believes.3100
Cameroon, the Democratic Republic of the Congo and the Republic of the Congo announced plans to adopt the TON blockchain amid the TONcoin Fund launch.7400
Leading blockchain protocols and other actors jockey for position in the race to build and mold Africa’s emerging Web3 economy.12941
Sudanese financial regulator considers cryptocurrencies to be the source of “high risks" as the demand grows.2466
Panelists at the Blockchain Africa Conference 2022 discuss the significant potential of cryptocurrency institutional investment while highlighting the challenges it still faces.3532
The coalition will release a decentralized application to help farmers make or receive payments using crypto.2267