Abubakar Nur Khalil

Algorand H1 2024 Report: Real-World Impact Unleashed From public services in Nigeria to scaling DeFi and education initiatives, here’s how @Algorand is making waves in the real world 👇 Pioneering Public Sector & Real-World Asset Impact Algorand isn’t just about DeFi and NFTs. Its RWA projects — @lofty_ai, making real estate investing accessible, and @travelx__, enhancing transparency and efficiency in air travel — are bridging blockchain with the real economy. With government partners such as Nigeria’s Plateau and Taraba States exploring blockchain for public services and youth training, Algorand is making real-world innovation happen. DeFi Growth and Community Rewards DeFi is thriving on Algorand, with 31 million $ALGO distributed to incentivize governance and fuel new projects. Backed by Algorand Ventures, projects like @vestigefi, @deflyapp and @PeraAlgoWallet are building a sustainable DeFi ecosystem, strengthening Algorand’s community and impact. Technological Leap in Developer Tools AlgoKit v2 has unlocked the doors for 10M+ Python developers, making it easier than ever to dive into smart contracts and dApps on Algorand. Python is the world’s #1 developer language, and Algorand is the only L1 offering native Python support — making it a top choice for developers globally. Secure Decentralized Authentication with LiquidAuth LiquidAuth is a big step forward for secure, decentralized wallet authentication. By removing reliance on centralized wallet providers, Algorand is leading the way on safer, open standards, making Web3 more secure for everyone. Scaling with Dynamic Round Times Algorand’s blockchain now adjusts block times on the fly, thanks to Dynamic Round Times. Average block time dropped from 3.4 to 2.8 seconds, with instant finality, atomic swaps, and quantum security making Algorand future-ready for payments at scale. 44M Transactions in a Single Day The $ORA memecoin drove Algorand to a record-breaking 44 million transactions in one day. No congestion, no delays. Algorand proved that scalability isn’t theoretical here; it’s tested and ready. Expanding Financial Integration with USDCa Algorand’s partnership with @coinbase made USDCa deposits and withdrawals a breeze, driving liquidity and accessibility in the stablecoin sector. Enterprise & Education Initiatives with Global Reach With the Algorand Blockchain Academy in partnership with UNDP, over 23,000 UN staff are exploring blockchain for global impact. In India, Algorand has expanded to 64+ universities, and new blockchain startups are emerging through its Startup Lab with T-Hub. Dive into the full report for an inside look at Algorand’s impact — from tech upgrades to public sector partnerships and beyond: https://lnkd.in/gbgRNyqi

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Nigerian fintech innovator Grey (YC W22) has forged a strategic alliance with dLocal, a prominent player in the cross-border payment sector, to facilitate its growth into new and emerging markets. Founded in 2021 by visionaries Idorenyin O. 0bong and Joseph Femi Aghedo, Grey has quickly become a go-to service for international money transfers, offering its users the ability to swiftly send and receive payments across borders without limitations. The company’s offerings include the provision of foreign bank accounts, instant currency exchange services, and seamless international money transfers. Having secured a US$2 million investment in 2022 with the support of Y Combinator, Grey is on an aggressive expansion path, with Kenya serving as its gateway to the East African market. dLocal specializes in enabling local payment transactions in fast-growing economies, bridging the gap between global merchants and consumers across continents including Africa, Asia, and Latin America. The collaboration with dLocal will empower Grey to extend cross-border payment services to wallets and bank accounts in new territories such as Brazil, Indonesia, Mexico, the Philippines, and South Africa. Click the link to read more: https://lnkd.in/dnUYEduH   #innovationvillage #grey #dlocal #fintech #partnership #ycombinator #techtrends #technews #innovation #emergingmarkets #africabusiness

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Nigerian Fintech, BillBoxx, Raises $1.6 Million in Pre-Seed Funding Round After Facilitating $4 Million via its #MVP " We invested in the company due to the large market size of the opportunity, impressive early traction gained from strong early partnerships with notable large corporates and startups, as well as the solid #tech product the team has developed." - CEO, 54 Collective Learn more here: https://lnkd.in/dUqcnrjq 

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NoOnes App Hits 200K Downloads, Suggests Growth in Africa's Crypto Adoption. NoOnes, a financial institution app with an integrated marketplace, has achieved over 200,000 downloads. This has marked a milestone in its mission to disrupt the digital payments industry and promote financial empowerment across Africa. The app's rapid rise in popularity, especially in key markets like Kenya, Cameroon, and South Africa, shed light on its seamless and secure crypto-centric solutions. CEO Ray Youssef attributes the success to the app's intuitive interface, robust security features, and commitment to customer satisfaction. Noones aims to bridge the gap between traditional finance and cryptocurrencies, enabling users to buy, sell, and trade assets directly. The surge in downloads suggests a growing interest in crypto-centric solutions for financial inclusion and empowerment. #NoOnes #financialinclusion #cryptocurrency #digitalpayments #Africa #Kenya #Cameroon #SouthAfrica #crypto #fintech #empowerment

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𝐍𝐢𝐠𝐞𝐫𝐢𝐚𝐧 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐉𝐮𝐢𝐜𝐲𝐰𝐚𝐲 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟑𝐌 𝐏𝐫𝐞-𝐒𝐞𝐞𝐝 Juicyway, a Nigerian cross-border payments startup, has secured $3 million in pre-seed funding led by P1 Ventures, with participation from notable investors including Ventures Platform Fund, Future Africa, MAGIC Fund, and Microtraction, along with Angel Investors Network. The company founded in 2021, by Ife Johnson and Justin Ziegler has processed $1.3 billion in total payment volume for over 4,000 customers since its first $9 transaction in November 2021, operating as a marketplace that facilitates currency conversion between local and foreign currencies. Juicy platform distinguishes itself through a hybrid approach combining decentralized finance (DeFi) and traditional finance (TradFi), allowing businesses to make cross-border payments using stablecoins like Tether and USDC. Juicyway's marketplace model matches customers exchanging currencies without acting as a counterparty, enabling market-influenced pricing that can result in favorable foreign exchange deals for businesses while generating revenue through transaction fees and spreads. The new funding will be allocated to expanding marketing and business development teams, improving technology infrastructure, and scaling operations across its current markets. With plans for another funding round in the next 18-24 months, Juicyway aims to address the persistent challenge of foreign exchange access for Nigerian businesses engaged in international transactions. #FintechInnovation #Juicyway #Stablecoins #DeFi #TradFi #NigerianStartups #FintechAfrica

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Nigerian fintech startup Billboxx has raised $1.6 million in a pre-seed funding round to scale its operations, refine its offerings, and expand its team. The funding, a mix of debt and equity, was secured from prominent #investors, including Norrsken Accelerator, Kaleo Ventures, 54 Collective, P2Vest, and Afrinovation Ventures. #funding #seedfunding #investment #businessverge Read the full article here: https://lnkd.in/dcVDuzk5

Cryptocurrency exchange platform Coinbase is making a grassroots push into the Kenyan technology and payments ecosystem by supporting developers and eyeing co-operation with M-Pesa even as government regulation remains uncertain. https://lnkd.in/dmU27TiH

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Nigerian SME fintech Billboxx raises $1.6M in pre-seed funding Billboxx, a #Nigerian fintech startup, announced on December 11, 2024, that it has successfully raised $1.6 million in a pre-seed funding round. Founded in early 2023 by Justus Obaoye and Abdulazeez Ogunjobi, Billboxx aims to address the cash flow challenges faced by small and medium enterprises (SMEs) across #Africa. https://lnkd.in/eBf9R9TR

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Hyperliquid Hype: Trading at the Speed of Thought by Siyanda Ndaba, our Assistant Manager in the Cryptocurrency Department Hyperliquid, a new decentralized exchange (DEX), is revolutionizing the perpetual futures (perps) trading space. Calling itself a "decentralized centralized exchange," Hyperliquid merges the ease of centralized exchanges (CEXs) with the transparency of decentralized finance (DeFi). Surpassing $1 billion in daily trading volume, its hybrid model is gaining traction. Key Benefits of Hyperliquid 1.Ultra-Low Latency:  Proprietary Layer 1 blockchain delivers 0.2-second latency and processes up to 100,000 transactions per second, ideal for professional traders. 2.Gasless Transactions: No gas fees significantly reduce costs versus platforms like dYdX and Uniswap. 3.Robust Liquidity: Community-driven liquidity pools incentivized through the Hyperliquidity Provider (HLP) program ensure deep liquidity. 4.Professional Tools: Features like advanced charting, diverse order types, and risk management tools cater to seasoned traders. Challenges Facing Hyperliquid 1.Perceived Centralization: Reliance on a proprietary Layer 1 blockchain raises concerns among DeFi purists. Regulatory pressures, such as Know Your Customer (KYC) compliance, could deter decentralization advocates. 2. Competition: Hyperliquid competes with giants like Binance and dYdX, as well as newer platforms offering similar capabilities. 3. Retail Accessibility: Advanced tools may intimidate casual users, requiring a balance of sophistication and simplicity. Implications for Crypto Accounting and Auditing 1.On-Chain Transparency: Real-time transaction tracking simplifies accounting and minimizes discrepancies. 2.Gasless Transactions: Absence of gas fees alters traditional expense categorization, necessitating new accounting methods. 3.Revenue Attribution: Reward programs like HLP require detailed ledger entries and innovative frameworks to track incentives. Hyperliquid’s fusion of centralized efficiency and decentralized transparency marks a leap forward in DeFi innovation. Its speed, cost-efficiency, and professional tools position it as a major player in the perps trading market. Addressing decentralization concerns, competition, and accessibility will be critical for its growth. Beyond trading, Hyperliquid's innovations could transform crypto accounting, auditing, and compliance, setting new standards for financial transparency. As it evolves, Hyperliquid has the potential to redefine trading technology.

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Lisk, a leading Layer 2 blockchain focused on emerging markets, has partnered with Kotani Pay, a prominent payment platform in Africa. This collaboration will enable projects on the Lisk protocol to exchange stablecoins like USDT and USDC for fiat currency, which can be deposited into mobile money wallets. 'Kotani Pay is addressing the challenge of on/off ramps—historically the Achilles' heel of crypto,' said Dominic Schwenter, COO of Lisk. 'This partnership will further enhance our innovation in the region.' The integration positions Lisk as the go-to RWA chain for African projects, providing access to over 8 African countries through Kotani Pay's extensive reach. This aligns with a recent Chainalysis report indicating that stablecoins account for approximately 43% of the total transaction volume in Sub-Saharan Africa. 'We are committed to empowering entrepreneurs and developers building Web3 products that drive economic growth across the continent,' stated Felix Macharia, CEO of Kotani Pay. 'This partnership aligns perfectly with Lisk's vision.' The collaboration aims to drive crypto adoption in Africa while increasing the utility of Lisk's infrastructure technology, addressing a critical challenge for developers building on the Lisk protocol. #blockchain #crypto #africa #lisk #kotanipay Lisk Kotani Pay

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Juicyway, an African fintech, has processed $1.3 billion in transactions using stablecoin technology. Emerging from stealth with $3M funding, it aims to transform Africa's cross-border payments. https://zurl.co/IQG2N

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Leading fintech companies in Nigeria have issued 17 million Verve cards powered by Nigerian payments unicorn Interswitch Group. Due to factors like cost, shift in customer behavior, and integration complexities, they are increasingly prioritizing the local solution over Visa and Mastercard. In fact, since 2021, Verve has controlled 54% of the Nigerian card market. “The decision to switch to local card schemes is also connected to customers’ use of cards for local payments. With spending power under pressure because of inflation, the ability to make global payments, which the big card schemes offer, is useful to only a small percentage of customers. “‘Majority of fintech customers use cards for POS transactions. They are not shopping on Amazon or online outside the country,’ an employee at a Nigerian card scheme told TechCabal.” Via TechCabal. https://lnkd.in/dRHF5EJi #fintech #financialservices #payments #cards #africa #nigeria

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