Ade Molajo

African nation of Eswatini releases design for tokenized retail CBDC The tiny kingdom, formerly known as Swaziland, is looking at better domestic accessibility and cross-border trade with a proposed CBDC. Read More: https://lnkd.in/erzk59XD #virtualcoincap #bitcoin #cryptocurrency #blockchain #ethereum #ripple #money #trading #bitcoinmining #cryptocurrencies #bitcoinnews #cryptotrading #bitcoins #investment #investing #entrepreneur #cryptonews #invest #business #eth #bitcointrading #litecoin #trader #bitcoinprice #investor

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Yellow Card Integrates Fireblocks Technology to Simplify #Cross-Border Transactions in Africa Yellow Card, a Pan-African cryptocurrency exchange specializing in buying and selling stablecoins, has announced a partnership with Fireblocks, a US-based digital asset infrastructure provider. This collaboration aims to address the challenges faced by businesses and individuals when conducting cross-border transactions in Africa, by offering businesses and individuals secure, efficient, and #cost-effective solutions. According to a company statement, Yellow Card will integrate Fireblocks’ technology infrastructure for moving, storing, and issuing digital assets to overcome obstacles for global corporate treasury in accessing African markets, providing secure and effective on-chain solutions. Yellow Card will leverage Fireblocks’ Wallets-as-a-Service (WaaS) platform, enabling the creation, management, and security of up to 14 million multi-party computation (MPC) wallets at scale. This will provide for the security of customer assets, ensuring high-level protection for #digital transactions. Overall, the collaboration would help businesses navigate the complexities of international and pan-African transactions, addressing challenges such as #regulatory-compliance, currency volatility, and the inefficiencies of traditional banking systems. Additionally, Yellow Card and Fireblocks aim to tackle the high costs associated with cross-border payments that businesses in Africa often encounter when using traditional methods. By offering a more affordable and efficient alternative, the partnership seeks to alleviate these financial burdens and streamline international transactions across the continent.

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In this week's Crypto Compass, we're diving into: 🏦 Circle gets its EMI licence under MiCA is France 🇳🇬 Nigeria detailing its temporary regulatory regime ➕ Regulatory, stablecoin adoption and CBDC updates Head over to the full review to get the details, and let me know in the comments what news excites you most this week! https://lnkd.in/eq54M5rg #blockchain #cryptocurrency #CBDC #regulation #stablecoin #crypto #Circle #Nigeria

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++ Yellow Card App Partners with Fireblocks to Enhance Cross-Border Stablecoin Transactions Across #Africa ++ Yellow Card, Africa’s leading stablecoin on/off ramp, has announced that it is integrating digital asset infrastructure provider Fireblocks to improve cross-border transactions for both businesses and individuals. By utilizing Fireblocks, Yellow Card seeks to remove obstacles for global corporate treasury, in accessing African markets, by offering secure and effective on-chain solutions. This includes leveraging Fireblocks’ Wallets-as-a-Service (WaaS) which enables Yellow Card to create, manage, and secure up to 14 million multi-party computation (MPC) wallets at scale and safeguard customer assets. "We’re excited to work with Fireblocks to enable real-world use cases for stablecoins, solving the complex challenges of international and pan-African transactions. Together, we enhance how businesses around the world manage their treasury, make payments, and drive innovation across Africa." - Chris Maurice, CEO and co-founder, Yellow Card "Much like the rest of the world, Africa has seen a transformative shift from traditional payment methods to alternative payments, driven by new technologies, with $100 billion worth of remittances flowing into the continent. However, cross-border payments are still encumbered by high costs, with low-value cross-border payments incurring steep fees. We are delighted to be working with Yellow Card to provide our direct custody wallets-as-a-service (WaaS), allowing them to secure their customers’ digital assets at scale." - Ran (Goldi) Goldshtein, SVP Payments and Network, Fireblocks #techafricanews #africa #fintech #cross #border #stablecoin #transactions #digital #assets #remittances

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Yellow Card App, the first licensed Stablecoin on/off ramp in Africa, has successfully closed its Series C financing, securing $33 million in equity. The round was led by Blockchain Capital and included participation from several prominent investors such as Polychain Capital, Third Prime Ventures, and Winklevoss Capital, among others. This significant financing milestone not only highlights Yellow Card's progress but also underscores the growing importance of stablecoins in the African FinTech landscape and their practical applications on a global scale. Chris Maurice, CEO and co-founder of Yellow Card, expressed his enthusiasm about the funding, stating, “This fundraise not only demonstrates our resilience but also highlights the vital role of digital assets for businesses across Africa.” He emphasized the potential for future opportunities and partnerships that this funding will facilitate, affirming the company's commitment to advancing the digital asset ecosystem on the continent with a strong cohort of supportive investors. Since its inception in Nigeria in 2019, Yellow Card has emerged as a trailblazer in the African cryptocurrency space, operating in 20 countries and facilitating over $3 billion in transactions. The newly acquired capital will be instrumental in driving the company's growth and expansion, particularly through enhancements to its API and widget products. Additionally, Yellow Card is set to develop innovative new offerings tailored for the African market, while strengthening its team and continuing to engage with regulators across the continent. Aleks Larsen, General Partner at Blockchain Capital, articulated the future vision for payments, stating, “The future of payments lies in fast, affordable rails for everyone, powered by open networks.” He expressed excitement about supporting Yellow Card in its mission to bring Africa on-chain through stablecoins, reinforcing the confidence of both new and existing investors in the company's potential to reshape the payment landscape in Africa. #YellowCard #Stablecoins #Fintech #Investment #SeriesC #Blockchain #DigitalAssets #AfricanMarket #Innovation #Cryptocurrency #Payments #Growth https://zurl.co/D3Tt

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Stripe's Bridge Acquisition: A Stablecoin Solution for Africa? Stripe's recent acquisition of Bridge for $1.1 billion signals a bold bet on stablecoins as the future of global payments, particularly for underserved regions like Africa. This move, the largest acquisition in both Stripe and crypto history, highlights the potential of stablecoins to revolutionise international commerce. Here's why Stripe bought Bridge and how this model could transform Africa: Stripe's Need for a Paradigm Shift: Despite impressive 20% year-on-year growth and $3.4 billion in net revenue, Stripe needs a game-changer to reach the trillion-dollar market cap club. Traditional payment rails are costly and slow, especially for businesses in the global south, including Africa. Stablecoins as the Solution: Stablecoins offer a 24/7, instant, global, and dollar-based payment rail, bypassing the limitations of traditional systems. This enables businesses to send and receive payments instantly in USD, simplifying cross-border transactions and mitigating currency volatility risks. Bridge's Value Proposition: Bridge provides user-friendly software that makes it easy for businesses to accept stablecoin payments. It simplifies the complex stablecoin infrastructure, much like Stripe did for traditional finance. Bridge already has traction with clients like the US government and aid organizations, demonstrating its viability. Potential Impact on Africa: Africa has a high mobile money penetration rate, making it primed for stablecoin adoption. Stablecoins can empower African businesses to participate in the global economy more efficiently. Imagine African entrepreneurs seamlessly selling goods and services worldwide, receiving instant USD payments, and accessing global platforms like ChatGPT as an alternative to other slower, more expensive and less efficient payments methods. Challenges and Opportunities: Crypto scams and fraud remain a concern that needs to be addressed. Stablecoin adoption is still primarily driven by crypto-native users, but their potential for mainstream adoption is growing. Regulatory clarity is needed for wider stablecoin adoption, and progress is being made in various regions, including Europe with the MiCA regulation. The Bottom Line: Stripe's acquisition of Bridge demonstrates a strong belief in the transformative power of stablecoins for global commerce. This model has immense potential to empower businesses in Africa, offering a faster, cheaper, and more inclusive financial system. While challenges exist, the momentum behind stablecoins suggests they will play a significant role in shaping the future of payments. Resad the full article here: https://lnkd.in/dvbTUrZh

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I was doing some research on the stablecoin market, and the numbers are seriously exciting! 🚀 In September, the total market cap of major USD-backed stablecoins hit $169 billion, reflecting a 31% year-to-date increase, adding $40 billion in liquidity to the market! 💸 Ripple’s stablecoin announcement also pushed the market higher. Tether’s USDT has grown by $28 billion this year, reaching $120 billion. USDT now commands a huge 71% share of the stablecoin market. Circle’s USDC saw a 44% rise in 2024, with a market cap of $36 billion! 💥 At Yellow Card, we’re seeing some fantastic use cases for stablecoins in real-world financial solutions across Africa. 🌍 Make sure to check out Chris Maurice interview with Rachel Wolfson – it’s definitely worth a listen! 🎧 https://lnkd.in/g9x7rrPD #Stablecoins #YellowCard #Emergingmarkets

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🌍 Driving Blockchain Adoption in Africa: The Hashgraph Association's Commitment to the Hedera Network. Download the latest African Blockchain Report for the full insights: www.cvvc.com/africareport At CV VC, we recognize the transformative power of blockchain technology across the globe. In our latest African Blockchain Report, co-published by Absa Investment Banking, we took a deep dive into the latest funding and blockchain development on the continent. One organization making significant strides in this space is The Hashgraph Association (THA), dedicated to advancing the adoption of the Hedera network, with a strong focus on Africa 🚀 Empowering Africa through DLT The Hashgraph Association, based in Switzerland's Crypto Valley, is not just promoting blockchain; it’s empowering African societies and economies to become infrastructure owners. By collaborating with key players across the continent, THA is equipping Africa with decentralized tools essential for digital transformation 🌍 Key Initiatives Across the Continent THA’s efforts are visible across several African nations, including Tunisia and Morocco. In Tunisia, THA has partnered with DAR Blockchain to host Hedera Hackathons, nurturing Web3 talent and certifying 50 Hedera developers. These initiatives are just the beginning of a broader strategy to build a robust blockchain ecosystem in the region In Morocco, THA is addressing inefficiencies in cross-border payments and enhancing supply chain traceability through blockchain solutions. Collaborations with engineering schools and financial institutions are fostering a deeper understanding of blockchain's potential, evidenced by innovative projects like the eSealing platform for diploma authentication and IoT-based fresh food monitoring using the Hedera Consensus Service 🌱 A Commitment to Sustainable Growth THA’s mission extends beyond technology. The association is committed to promoting economic inclusion and supporting sustainable growth across Africa. Their work in education, innovation, and regulatory development ensures that African nations are not just participants but leaders in the global blockchain revolution Stay connected with us as we continue to highlight the groundbreaking work being done to advance blockchain technology across Africa. Download the full report for detailed insights into Africa's growing blockchain ecosystem: www.cvvc.com/africareport #Africa #Blockchain #Innovation Kamal Youssefi Stefan Deiss Andrew Forson, TEP Dustin Rotenberg

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Nigerian #Fintech, JuicyWay, Raises $3 Million to Provide FX Exchange Using Stablecoins Juicyway has been operating in stealth mode since November 2021, when it processed its first $9 payment. Since then, it has handled a total payment volume (#TPV) of $1.3 billion across more than 4,000 customers, an important metric that Juicyway considers its North Star.  Juicyway holds #licenses in the following markets... https://lnkd.in/duNbby9N 

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🌍 Transforming Finance: Sub-Saharan Africa's Crypto Adoption Takes Centre Stage💡 Sub-Saharan Africa may represent only 2.7% of global #cryptocurrency transaction volume, but its influence is growing FAST 🚀. Nigeria is leading the charge, ranking #2 globally in crypto adoption, with $59B in transactions. But it’s not just Nigeria – South Africa, Kenya, and Ethiopia are making strides in leveraging crypto to solve local economic challenges. 🔑 What's driving this growth? 1. Stablecoins are empowering businesses by offering a hedge against currency volatility (now 43% of regional transaction volume). 2. DeFi platforms are opening doors to financial services for millions, especially in regions with limited banking access (roughly 49% of adults have bank accounts). 3. The TradFi-Crypto Nexus in South Africa is bridging institutional and retail markets with increased demand for crypto custody solutions. 🌍 Africa’s emerging crypto market is a game-changer for cross-border payments, financial inclusion, and economic resilience. With regulatory frameworks evolving, Sub-Saharan Africa is set to become a global leader in crypto innovation. ⚖️ In this rapidly changing landscape, compliance is critical for sustainable growth. Businesses need to stay aligned with global regulations to navigate the complexities of digital assets and ensure long-term success. With a strong presence in South Africa and leveraging global experience, Provenance can assist with any compliance query. Our team excels at navigating the intricacies of crypto regulations – whether those are clear, ambiguous, or yet to be defined. We are here to support you every step of the way! 🔗 Read more in the original article here: https://lnkd.in/gVsvaMv8 💬 How do you think Africa's experience with crypto can shape global financial trends? Let us know in the comments below! ⬇️ #DigitalAssets #CryptoAdoption #FinTech #AfricaLeads #FinancialInclusion #Stablecoins #DeFi #TradFi #BlockchainInnovation #Compliance

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