Author: Louis Dike

According to Securities and Exchange Commission (Nigeria) (SEC) Director-General Emomotimi Agama, Nigeria witnessed cryptocurrency transactions exceeding US $50 billion (approximately N 75 trillion at N1,500/USD) between July 2023 and June 2024.  The figure is particularly striking considering that Nigeria’s equities market capitalisation is currently around N 98.8 trillion—making the crypto volume roughly two-thirds of that size. What the Numbers Reveal See more related: Reps Panel Urges SEC to Rethink ₦1B Capital Benchmark for Crypto Operators Implications for Nigeria’s Crypto & Financial Ecosystem 1. A booming informal market The magnitude of crypto transactions points to an informal economy of digital-asset trading,…

Licensed bureau-de-change (BDC) operators across Nigeria say their businesses are approaching collapse after the Central Bank of Nigeria (CBN) suspended dollar allocations from the official foreign exchange window. The move has severely disrupted their ability to operate, pay staff, rent offices and maintain licences. One BDC operator, Abubakar Ardo, told Nairametrics that “most of us are just managing to stay afloat. Since the CBN stopped selling forex directly to us … the income just isn’t coming in as before.” The problem is compounded as demand for foreign currency through BDCs has fallen. Many clients now prefer to use international money-transfer…

After years of rapid adoption and speculative growth, Africa’s crypto industry is entering a phase of maturity — one characterized by trust, compliance, and security. From Nigeria’s push to regulate Virtual Asset Service Providers (VASPs) to Kenya’s upcoming Capital Markets (Amendment) Bill and South Africa’s Financial Sector Conduct Authority (FSCA) framework, regulators are tightening oversight to protect users and attract institutional capital. These moves mark a critical turning point: crypto in Africa is shifting from informal peer-to-peer networks to institutional-grade digital finance. Why Compliance Now Matters In a continent where nearly 70% of transactions are still informal, unregulated crypto markets…

Stablecoin issuer Tether (USDT) has announced an investment in Kotani Pay, a Kenya-based fintech specializing in blockchain-powered payments. The partnership aims to expand stablecoin access and on-chain payment infrastructure across Africa The move reinforces Africa’s growing role in the global stablecoin economy, as millions of users turn to blockchain solutions for cross-border payments, remittances, and savings. What Kotani Pay Does Founded in 2020, Kotani Pay provides APIs that connect blockchain networks with mobile money systems, enabling users to send and receive digital assets via feature phones — even without internet access. By leveraging Tether’s backing, Kotani Pay plans to scale…

Market Prices Are Cooling — But the Foundations Are Heating Up While global crypto markets remain on edge, Africa’s Web3 infrastructure story continues to unfold beneath the surface.Bitcoin is trading around $108,000 and Ethereum at $3,800, extending a mild global correction — but the continent’s builders, regulators, and fintechs haven’t slowed down. From mobile-first payments integration to regulated exchange licensing and cross-border blockchain projects, the continent is focused on the real work of adoption, not just speculation. Africa’s Next Chapter: Infrastructure, Not Hype Even as volatility shakes markets, major developments highlight Africa’s forward momentum: See more related: Google Plans Four…

After a volatile weekend that triggered billions in liquidations, the global crypto market staged a powerful comeback on Monday. Bitcoin (BTC) climbed back above US $110,700, up 3.3% in 24 hours, while Ethereum (ETH) traded near US $4,050, reflecting renewed investor confidence across both global and African markets. What’s Driving the Rebound Analysts attribute the rebound to: Across Africa, the rebound has already boosted trading activity on local platforms such as Luno, Yellow Card, and Bitmama, where traders had paused after the mid-October crash. See more related: Citi’s New ETH Target Slips to $4,300 as Analysts Warn of Downside Pressure…

South Africa’s leading crypto exchange, Luno, has announced it has surpassed 6.3 million registered users, marking one of the strongest adoption surges in Africa’s digital-asset space. The platform added over 530,000 new users in the past year, demonstrating a shift in South Africans’ view of cryptocurrency — from speculative trading toward mainstream financial use. From Speculation to Practical Adoption Luno’s growth comes amid a global market rebound and a steady increase in local consumer confidence in crypto’s long-term utility. The company attributes this expansion to: See more related: Nigerians Gain Access to U.S Stocks with ₦100 via Tokenized Equities The…

The Securities and Exchange Commission (SEC) Nigeria has issued an official alert cautioning investors about a digital asset called Shalom Coin (SHLM), which is being marketed via social media as a speculative investment opportunity. In a statement on Friday, the SEC disclosed that promoters of SHLM are not registered with the Commission and that the token itself is not approved for issuance, trading, or offering to the public in Nigeria. What’s Suspicious About SHLM? Advice from the SEC The SEC strongly advises the public to: See more related: Reps Panel Urges SEC to Rethink ₦1B Capital Benchmark for Crypto Operators…

Crypto exchange Kraken has acquired the CFTC-licensed Small Exchange for $100 million, marking its official entry into regulated prediction markets — a fast-growing niche linking crypto and event-based trading.  This deal enables Kraken to offer event contracts (such as betting on market or political outcomes) under U.S. oversight — a significant diversification beyond spot trading and staking. What It Means for the Industry Prediction markets have long existed in decentralized form (via protocols like Polymarket and Augur). Kraken’s move bridges that innovation with regulated finance, giving users a compliant alternative to DeFi prediction platforms. Analysts view the acquisition as part…

Ghana is taking its first major step toward crypto regulation as the Bank of Ghana (BoG) prepares a legal framework to license and supervise digital asset activities, according to the bank’s governor, Dr. Ernest Addison. The move comes as crypto adoption rises sharply, particularly through stablecoins and peer-to-peer payments used in remittances, online trade, and informal markets. The Bank of Ghana states that the regulation will address money laundering risks, consumer protection, and the integrity of cross-border payments. Background: Informal Growth & Global Pressure While Ghana has not yet outlawed crypto trading, the market operates in a gray zone, with exchanges…