Author: Susan Nakayi

Suzan is a cryptocurrency journalist and analyst currently acting as the Assistant Chef Editor at Koin Times. She loves emerging young women and girls about the opportunities in the crypto space

Chipper Cash, an African fintech start-up, has extended its peer-to-peer instant money service to South Africa. In addition to being able to use the remittance service, South African users will be able to buy, sell, and transfer cryptocurrencies like bitcoin, ethereum, and the USDC stablecoin. South Africa Ripe for Disruption and Innovation According to a report that quotes the start-up’s VP for strategy and partnerships in Africa, Pardon Mujakachi, Chipper Cash has made the foray into South Africa because it believes the country “is ripe for disruption and innovation in the financial services market.” The report also quotes the VP revealing the…

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Yellow Card, an Africa-focused crypto exchange platform, recently announced a capital raise of $15 million from its Series A funding round. The capital raise, which is Yellow Card’s largest, was led by Valar Ventures, Third Prime, and Castle Island Ventures. Square, Coinbase Ventures, and Blockchain.com Ventures also participated in the round. Making Cryptocurrencies Accessible According to the exchange platform’s blog post, part of the funds raised will be used to “ramp up hiring and continue its expansion across the continent.” On the other hand, Chris Maurice, founder and CEO of Yellow Card, said he expects the latest capital raise to help…

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A Nigeria-based research and development economist, Gospel Obele, has called “for a unified regulatory mechanism for cryptocurrency trading.” He adds that such regulation of cryptocurrencies can potentially “complement an African digital currency,” hence this needs to be considered. Cryptocurrencies Show the Way In remarks published by Joy Online, Obele insists that cryptocurrencies have already shown how a single currency must function. The economist explained: Crypto has been able to build a level of singular markets when it comes to digital currency use and trade across borders, and this is a significant philosophy which the [African Continental Free Trade Area] originates.…

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Leading European soccer teams have reportedly made millions from the sale of crypto tokens to their supporters around the world. The scheme aimed at increasing fan engagement has been praised as an alternative revenue source during the pandemic but also criticized as a “gateway into speculative cryptocurrency.” Backlash from Supporters Groups Europe’s top soccer clubs have made £150 million (over $204 million) from sales on the Socios.com platform where they can offer special fan tokens, the Telegraph reported. Arsenal, Barcelona, Juventus, and PSG are among over 40 of the Old Continent’s biggest football teams that are already working with the…

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Bitcoin will become legal tender in El Salvador on Tuesday, Sept. 7. The Salvadoran government has started buying bitcoin ahead of the law taking effect. The first 200 coins have been purchased and “a lot more” are coming, said President Nayib Bukele. Bukele also tweeted, “Tomorrow, for the first time in history, all the eyes of the world will be on El Salvador.” The country’s Bitcoin Law, passed in June, will enter into force on Tuesday, Sept. 7. It will make bitcoin legal tender in the country alongside the U.S. dollar. The government recently published a video explaining what to…

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The global charity organization, CARE, has created crypto-based vouchers that will be distributed to women and select groups in Africa and Latin America. According to CARE, these vouchers will be redeemable for goods, services or cash. However, in its statement announcing the launch of the pilot phase, the NGO reveals only groups in Kenya and Ecuador are set to participate. In Kenya, the vouchers will go to the “village savings and loans associations that are coping with the economic impact of COVID-19.” In Ecuador, the crypto vouchers will be distributed “to survivors or women at risk of gender-based violence.” Project…

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Uganda’s blockchain community welcomes the recent call on authorities to create a cryptocurrency regulatory framework, a board member of the Blockchain Association of Uganda (BAU) has said. The member, Suleiman Murunga, explains that such a framework “will create investor confidence and boost participation by innovators.” Uganda’s FIA Calls for Crypto Framework The remarks by BAU’s Murunga come just a few months after the country’s Financial Intelligence Authority (FIA) told the country’s Ministry of Finance to look into the possibility of regulating cryptocurrency. Koin Times earlier reported that FIA took the step of calling for regulation of for ccryptocurrencies after noting…

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A Kenyan regulator, the Capital Markets Authority (CMA), has cautioned investors and Kenyan citizens against investing with Fxbitinvest, a bitcoin trading company. The warning was issued after the regulator noted Fxbitinvest’s use of exaggerated return-on-investment promises to lure unsuspecting Kenyans. Unrealistic Promises According to a CMA statement issued on August 12, Fxbitinvest is offering prospective investors a return on investment (ROI) of 400% within a space of six hours. In addition, the regulator also identifies the “paybill numbers” that are being used by individuals behind Fxbitinvest to collect funds from Kenyans. The CMA names persons associated with the company either in their…

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Internet giant Google’s new ad policy has gone into effect. The company now allows certain cryptocurrency ads, such as those promoting cryptocurrency exchanges and wallets. Advertisers must meet certain requirements and be certified by Google. Google Now Allows Some Crypto Ads Google’s new ad policy for financial products and services, announced in June, has gone into effect. A notice on the internet giant’s website details: Beginning August 3, advertisers offering cryptocurrency exchanges and wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google. To be certified by Google, advertisers must either be…

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It has been more than six months since the Central Bank of Nigeria (CBN) directed banks to stop serving customers from the cryptocurrency industry. While the measure appears to have succeeded in removing crypto entities from the banking ecosystem, the policy has however led to the growth of peer-to-peer trading. Central Bank of Nigeria’s Actions Led to an Increase in Activity on the Black Market’ As some reports have shown, Nigeria’s position as the biggest cryptocurrency market in Africa remains unchallenged. For its part, the the Central Bank of Nigeria has complemented its regular arguments against cryptocurrencies with the now routine assurances…

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