ACCN Editor

FTX Was Doing Billions in Business in Africa – Here’s All You Need to Know

Exchange / Leave a Comment

  Nestcoin, a startup leading crypto and Web3 activities in Africa, has been linked to the collapsed FTX exchange. With FTX’s bankruptcy proceeding, Nestcoin has laid off at least 30 employees, while the salaries of the remaining employees have been reduced by 40%. FTX Affiliates in Africa are Counting Losses The CEO of Nestcoin, Yele […]

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Original Article By: https://insidebitcoins.com/news/ftx-was-doing-billions-in-business-in-africa-heres-all-you-need-to-know

Africa Is One of the World’s Fastest Growing Crypto Markets

Adoption / Leave a Comment

  Analysis by blockchain data platform Chainalysis has revealed that Africa’s crypto market is growing faster than anywhere else in the world. Data shows Nigeria, Kenya, and South Africa have the highest number of crypto users and in 2021, crypto transactions peaked at around $20 billion a month. Why is this? Why is Crypto So

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Original Article By: https://africabusinesscommunities.com/features/africa-is-one-of-the-worlds-fastest-growing-crypto-markets/

Dollar scarcity: Manufacturer’s panic buying creates illusion of economic growth

Country News, Nigeria / Leave a Comment

  Fear of a dollar shortage has driven manufacturers to front-load their inventory requirements, creating the illusion of economic growth in Nigeria. This was disclosed in the Financial Derivatives recently released Economics Bulletin for Q2 2022. The Nigerian economy has been expanding for seven straight quarters since the third quarter of 2022, when the covid-19-induced

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Original Article By: https://nairametrics.com/2022/08/29/dollar-scarcity-manufacturers-panic-buying-creates-illusion-of-economic-growth/

10% of SA Adults Own Cryptocurrency – But Who Owns More, Men or Women?

Country News, South Africa / Leave a Comment

  Cryptocurrency adoption in South Africa has held steady over the past several months, according to the latest data from Finder.com.   Ten percent of South African internet users aged 18+ currently own cryptocurrency. It should be noted that this figure or percentage is down from 11% late last year. Men are much more likely

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Bitcoin Mining in Africa: One of the World’s Cheapest Place to Mine BTC

Mining / Leave a Comment

The profitability of mining Bitoin depends in great part on the cost of electricity and soaring energy prices across the globe are impacting bitcoin mining operations. Given the amount of energy required to mine 1 BTC, the cost of energy crisis is understandably of the main factors mining companies must consider when looking to maximise

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Big Changes Coming For How Cryptocurrencies Are Regulated In South Africa

Country News, South Africa / Leave a Comment

    The Financial Sector Conduct Authority (FSCA), which works in collaboration with the South African Reserve Bank (SARB), recently announced that it is establishing a new regulatory framework for cryptocurrencies in South Africa. Both the FSCA and the SARB have been vocal about declaring cryptocurrencies as financial products, and the Prudential Authority division at

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Original Article By: https://businesstech.co.za/news/finance/619791/big-changes-coming-for-how-cryptocurrencies-are-regulated-in-south-africa/

World’s Largest Crypto Exchange, Binance, Hires Finance Executive To Lead Operations In South Africa.

Exchange, South Africa / Leave a Comment

    Binance, the world’s leading crypto and blockchain infrastructure provider, has announced the appointment of Hannes Wessels as the Country Head of South Africa to drive its business operations in the region. Hannes brings with him over 10 years of experience in the finance sector and is the previous Head of Global Banking for South

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Original Article By: https://techfinancials.co.za/2022/08/15/worlds-largest-crypto-exchange-binance-hires-finance-executive-to-lead-operations-in-south-africa/

Nigeria’s Inflation Rate Surges to a 17-Year High of 19.64% in July 2022

Country News, Nigeria / Leave a Comment

    Nigeria’s inflation rate in the month of July 2022 rose to a 17-year high of 19.64%. This compares to 18.6% recorded in the previous month of June 2022. The latest inflation data is according to the recently released Consumer Price Index (CPI) report for the month of July 2022, by the National Bureau

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Original Article By: https://nairametrics.com/2022/08/15/breaking-nigerias-inflation-rate-surges-to-a-17-year-high-of-19-64-in-july-2022/

Binance Says It Is Winning Crypto Clients Thanks To Inflation

Adoption, Binance / Leave a Comment

  LIMA August 10 – Binance, the world’s largest cryptocurrency exchange, is seeing a surge in clients due to rising inflation and a historically strong dollar that has depressed emerging market currencies, an executive told Reuters on Wednesday, without disclosing numbers. “Now that we are seeing inflation ramping up worldwide, we are seeing that more

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Original Article By: https://www.reuters.com/technology/binance-says-it-is-winning-crypto-clients-thanks-inflation-2022-08-10/

Researchers Label Nigeria As The World’s Most ‘Crypto Obsessed’ Nation.

Country News, Nigeria / Leave a Comment

Nigeria is, according to a new research study, head-and-shoulders the most cryptocurrency curious country in the world.   The West African state is even out-shadowing current crypto hotspot United Arab Emirates as the place where its population is the most hungry for information about digital assets. The research, carried out by crypto price tracker CoinGecko, examined

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Original Article By: https://www.cityam.com/researchers-label-nigeria-as-the-worlds-most-crypto-obsessed-nation/

Imminent Crypto Regulation in South Africa – Are You Ready?

South Africa / Leave a Comment

  A long period of silence on cryptocurrency regulation in South Africa has finally been broken. South African Reserve Bank (“SARB”) deputy governor, Kuben Naidoo, has now confirmed that new regulations are set to be implemented within the next 12 – 18 months. This development will see South Africa following suit with other countries, such

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Original Article By: https://www.msn.com/en-za/news/other/imminent-crypto-regulation-in-south-africa-are-you-ready/ar-AAZD1WZ

New Crypto Hub for Central African Republic; Here’s what’s next.

Central African Republic (CAR), Country News / Leave a Comment

    The Central African Republic (CAR) has launched the Sango crypto-hub initiative. It is funded by the government to promote the expansion of the regional market for digital assets. The Sango initiative has been introduced following CAR’s acceptance of Bitcoin as legal tender in April. The project aims to attract businesses, international crypto-talent, and enthusiasts, in addition

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Original Article By: https://ambcrypto.com/new-crypto-hub-for-central-african-republic-heres-whats-next

Morocco To Bring Cryptocurrency Regulation Soon

Country News, Morocco / Leave a Comment

  Morocco will soon join the list of countries that have introduced a regulatory system to manage the cryptocurrency being circulated in the country. The Central Bank of Morocco, Bank Al-Maghrib (BAM) is working on the design of the crypto regulation bill with consultation from a global financial institution.   What’s the Need for a

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Original Article By: https://insidebitcoins.com/news/morocco-to-bring-cryptocurrency-regulation-soon

Africa’s first global blockchain bank hits 100k users

Blockchain / Leave a Comment

Billed as the first global blockchain bank out of Africa, Xend Finance has just clocked 100 000 users on its savings platform while further opening it to local currencies in Ghanaian Cedis and Kenyan Shillings.   Backed by Binance and Google Launchpad, Xend Finance users will now be able to seamlessly convert their cryptocurrency back

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Original Article By: https://ventureburn.com/2022/06/africas-first-global-blockchain-bank-hits-100k-users/

Inspired by MicroStrategy: CyberSec Firm Octagon Networks Converts its Balance Sheet Into Bitcoin

Bitcoin, Ethiopia / Leave a Comment

The Ethiopian cyber security company – Octagon Networks – followed suite and converted its entire balance sheet to bitcoin.   Octagon Networks – a cyber security company headquartered in Addis Ababa – converted its entire balance sheet and all its liquid assets into the primary cryptocurrency. In addition, it embraced bitcoin as a payment method

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Original Article By: https://cryptopotato.com/inspired-by-microstrategy-cybersec-firm-octagon-networks-converts-its-balance-sheet-into-bitcoin/

Namibia’s Central Bank Plans to Introduce Digital Currency

Country News, Namibia / Leave a Comment

    Namibia’s central bank has announced intentions to launch its central bank digital currency (CBDC) following a release of the bank’s FinTech regulatory framework amid the global rise and increasing adoption of cryptocurrencies. “We cannot ignore CBDC, it is a reality out there and for that reason, the Bank of Namibia has started researching

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Original Article By: https://namibiadailynews.info/namibias-central-bank-plans-to-introduce-digital-currency/

Tanzania Announces Own Central Bank Digital Currency (CBDC) Amid Plans to Issue Crypto Regulations

Country News, Tanzania / Leave a Comment

  Tanzania’s central bank has announced intentions to launch its central bank digital currency (CBDC) amid the global rise and the increasing adoption of cryptocurrencies. The country’s Central Bank Governor Prof Florens Luoga made these comments while speaking last week at a two-day Conference of Financial Institutions in Tanzania held on 25th and 26th November,

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Original Article By: https://kenyanwallstreet.com/tanzania-plans-central-bank-digital-currency-cbdc/

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