BitcoinKE

According to a report by Bloomberg, South Africans are spending more than R2 million (approximately $112,000) each month using cryptocurrency via Luno Pay, a service offered by the crypto exchange Luno. This figure highlights the growing shift from crypto as a trading tool to a functional alternative for digital payments.

Luno Pay allows users to spend their crypto directly with merchants using QR codes, offering an experience similar to mainstream digital wallets like Apple Pay and Google Pay.

Luno says that South Africans are spending as little as R1 for items at Pick n Pay, a local supermarket chain. The exchange has also partnered with Zapper – a payment app in South Africa – which is offering a very similar experience to Lightning QR code scanning. It is also interesting to see the USDT-cash back incentivising South Africans to use this payment functionality by giving them back digital dollars.

While Luno does not disclose the number of merchants currently accepting payments through its system, here’s what we do know from their recent data:

R3 million ZAR (~USD 160 k) in total transactions have been processed through Luno Pay since its launch in September 2023 — with an average basket size of R370 and a max single transaction of R10,000

A social media poll by Luno found that ~40% of respondents said they had used crypto to make payments

Over 31,000 merchants in South Africa now accept crypto via Luno (through Zapper integration)

More than 60% of payment volume is coming from users who have been with Luno for at least three years, indicating established users are most likely to use it for payments

SOUTH AFRICA | Luno Wallet Users Can Now Pay for Goods and Services in Pick n Pay Stores Using Bitcoin for Free

Customers can purchase groceries and various value-added services, including airtime, electricity, bus tickets, and even pay municipal bills using Bitcoin at the… pic.twitter.com/o2byFlgbqV

— BitKE (@BitcoinKE) September 13, 2023

What This Tells Us:

While we don’t know how many users are using payments per se, the volume (R3M+) and merchant uptake (31K+ merchants) point to meaningful usage, especially among experienced Luno users.

The 40% poll response suggests that a substantial portion of engaged users are using crypto for real-world payments.

Summary

R3M+ in payments processed.

31,000+ merchants accepting crypto.

Among Luno users aware enough to respond, ~40% use it for payments.

Most of that is done by long-term users (3+ years).

MILESTONE: Luno Hits 10 Million Customers – One Million Added in 6 Months, 40% in South Africa https://t.co/ZeAa60Xmy7 @LunoGlobal

— BitKE (@BitcoinKE) April 15, 2022

If you’re after global figures or absolute user counts, Luno hasn’t made those publicly available yet. But in South Africa, crypto payments are clearly growing — both in merchant acceptance and user behavior.

South Africa has long stood out as one of the most crypto-forward countries on the continent. Data from Statista shows that roughly 11% of the population owns cryptocurrency, placing it among the top crypto adoption rates globally. The country’s favorable regulatory stance – including the classification of crypto as a financial product by the Financial Sector Conduct Authority (FSCA) – has also supported the industry’s development.

Marius Reitz, General Manager for Africa at Luno, told Bloomberg that people are using crypto for purchases ranging from flight tickets to groceries. He noted that Luno Pay gives users the ability to spend their crypto instantly, bridging the gap between traditional finance and blockchain-powered payments.

Luno itself is one of Africa’s longest-standing crypto platforms, with over 10 million users globally and a strong presence in South Africa, Nigeria, and other key African markets. The company was acquired in 2020 by Digital Currency Group (DCG), one of the world’s leading crypto investment firms. Despite facing industry headwinds and scaling back its international operations in early 2023, Luno has continued to push for product innovation, including integrating retail payments into its platform.

CRYPTO NEWS: South African Exchange, Luno, to Shed 35% of Jobs to Navigate ‘Crypto Winter’ – BitcoinKE https://t.co/bZQQtWRy0U

— Crypto Trader Pro (@CryptoTraderPro) January 29, 2023

As crypto gains more utility in everyday life, South Africa could serve as a model for how digital currencies can be blended into existing payment ecosystems — not just as a speculative asset, but as usable money.

48% of Crypto Holders in Kenya, Nigeria, South Africa Invest to Pay for Education, Reveals Latest Luno Report: https://t.co/DqI0FOKniq @LunoGlobal

— BitKE (@BitcoinKE) October 4, 2021

 

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A new H1 2025 on crypto has revealed that memecoins are the only crypto sector to post positive returns in the first half of 2025.

 

According to the data, the memecoin sector returned an average of 1,313%, dramatically outperforming other crypto segments – most of which have recorded double-digit losses this year.

“In the first half of 2025, memecoins were the only profitable narrative, with a year-to-date return of +1,313.5%,” the report stated.

 

Other sectors, such as Real World Assets (RWAs), Artificial Intelligence (AI), and Layer 2s, posted negative average returns, despite strong interest in their long-term potential.

RWAs fell by 33.6%

AI tokens dropped by 29.4%, and

Layer 2 tokens saw losses of 17.3%.

TOKEN ANALYSIS | #RWA Launchpad, Collaterize $COLLAT Surges 300% in 5 Days Following @solana Founder Repost

“In our model, a portion of each tokenized asset goes into a dedicated liquidity pool ensuring it’s immediately tradable.” – @CollaterizeHQ https://t.co/gz57ATFHZs pic.twitter.com/PhI1RaxPJk

— BitKE (@BitcoinKE) May 22, 2025

Top-Performing Memecoins

Among the best-performing memecoins were:

Brett (BRETT) — Based on Matt Furie’s “Boy’s Club” comic and built on Base, it skyrocketed by 7,727%.

Book of Meme (BOME) — Launched by artist Darkfarms, it surged by 1,964%.

Dogwifhat (WIF) — A Solana-based token, which gained 1,589%.

Pepe (PEPE) — An Ethereum token inspired by the famous meme frog, which rose by 514%.

Shiba Inu (SHIB) — The popular Ethereum-based dog token, up 176%.

As of June 11, 2025, Pump.fun has facilitated the launch of 5,897,541 new memecoins, marking an explosive surge in token creation. This represents more than a tenfold increase compared to the roughly 540,000 new tokens launched across decentralized exchanges by early April 2024, according to CoinGecko.

On average, 36,405 new memecoins were launched daily on Pump.fun – a 3.5x increase from the 2024 daily average of 10,417 tokens. This rapid acceleration signals a fundamental shift in how crypto entrepreneurs and retail participants approach token creation, with memecoins emerging as the go-to vehicle for experimentation, community engagement, and speculative momentum.

HOW TO | How To Quickly Create and Share Your Own MemeCoin Using Solana Marketplace, https://t.co/QCr6l2e8EP

Below is a step-by-step guide to help you launch your own memecoin using https://t.co/QCr6l2e8EP on the Solana network.https://t.co/voUe9o9ZKl @pumpdotfun @solana… pic.twitter.com/q8gV71huc4

— BitKE (@BitcoinKE) July 1, 2024

In the first half of 2025, meme coin creation consistently exceeded 800,000 per month, averaging 1,117,943 new tokens monthly. January 2025 set the tone with a staggering 1.7 million meme tokens launched in just one month.

Month Total Created (Tokens) Average Daily Launches January 2025 1,727,508 55,726 February 2025 1,140,175 40,721 March 2025 823,401 26,561 April 2025 1,001,077 33,369 May 2025 897,553 28,953

This surge highlights the memecoin sector’s ongoing appeal, even in the face of extreme volatility and high attrition. While the vast majority of these tokens fade shortly after launch, the relentless pace of new creations suggests that traders and creators remain undeterred — driven by the lure of rapid, speculative gains.

STATISTICS | https://t.co/nDFpSnSj5U #MemeCoins Face Mass Extinction – Less Than 1% Survive

The collapse of the memecoin market has contributed to a staggering $1 trillion loss in overall crypto market capitalization.

Analysts warn that this shift in capital allocation may… pic.twitter.com/4npj6Tdkzl

— BitKE (@BitcoinKE) March 15, 2025

Which raises a critical question: Are meme coins profitable enough to sustain this level of hype and activity?

While most of these tokens have little to no utility, their communities and cultural appeal continue to drive strong speculation and trading volume – a hallmark of the memecoin sector.

MARKET ANALYSIS | #MemeCoins Outperformed All Crypto Categories in 2024

The memecoin category outperformed all other crypto asset classes in 2024, with its market cap surging by 500% – rising from $20 billion in January to $120 billion in December 2024https://t.co/OSc4F554KN pic.twitter.com/lgS6EiUB2B

— BitKE (@BitcoinKE) January 6, 2025

Contrast with Other Narratives

The memecoin boom stands in stark contrast to the performance of more “serious” narratives that dominated headlines throughout 2024 and early 2025.

Despite considerable institutional interest and development in RWAs and AI, these sectors struggled to deliver returns. Infrastructure tokens – including Layer 1s and Layer 2s – also failed to excite the market, suggesting a continued dominance of speculation-driven plays over fundamentals.

Category Profit (%) Loss (%) Meme 18.82% 81.18% RWA 28.90% 71.10% Layer 1 10.23% 89.77% DEX 10.22% 89.78% Lending 11.11% 88.89% NFT 8.04% 91.96% GameFi 8.37% 91.63% Restaking 8.62% 91.38% AI 8.69% 91.31% Layer 2 6.14% 93.86%

Even the DeFi and gaming/metaverse sectors saw declines of 17.0% and 21.0% respectively, underscoring a broader downturn in utility-based crypto investments.

Memecoins: A Speculative Favorite

CoinGecko attributes the memecoin rally to their cultural resonance and viral nature, which often leads to rapid price movements fueled by community-driven hype. These characteristics have made memecoins a favorite among retail traders looking for quick returns – especially amid otherwise stagnant market conditions.

A Legendary Trader Turned $8,000 into $5.7 Billion with Shiba Inu – The Blueprint for MemeCoin Investing

When an investor quietly bought $8,000 worth of Shiba Inu in August 2020, no one noticed. Fast-forward 14 months, and . . .https://t.co/ubDLRuqNHJ @ShibainuCoin @ShibArmy pic.twitter.com/p8511ZHbVn

— BitKE (@BitcoinKE) May 20, 2025

As the second half of 2025 unfolds, memecoins remain a rare bright spot in an otherwise underperforming crypto landscape.

 

 

 

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Decentralized prediction market platform, Polymarket, is reportedly in the process of raising up to $200 million in new funding at a valuation of $1 billion, according to reports.

The platform, which allows users to place bets on real-world events – including elections, sports, and crypto – has experienced a surge in popularity ahead of the 2024 U.S. presidential election. Polymarket’s sharp growth and increased media attention have attracted prominent investors from the crypto and tech world.

The company’s last known funding round was in 2022 when it raised $4 million from Peter Thiel’s Founders Fund, Ethereum Co-Founder, Vitalik Buterin, and former Coinbase CTO, Balaji Srinivasan, among others.

Polymarket operates on the Polygon blockchain and enables users to trade “yes” or “no” shares on the outcomes of various events. These shares can rise or fall in value based on the probability of an outcome, similar to traditional prediction markets.

EXPLAINER: How to Make Bets and Earn $USDC Using the PolyMarket Prediction Market

A prediction market is a marketplace where people can buy and sell shares on how a future event will resolve.

Here is a step-by-step guide:https://t.co/68pOHj5ivc @PolymarketHQ pic.twitter.com/EwDbjjLilf

— BitKE (@BitcoinKE) July 31, 2022

Despite the growing attention, Polymarket has faced regulatory scrutiny in the past. In January 2022, the U.S. Commodity Futures Trading Commission (CFTC) fined the platform $1.4 million for offering unregistered binary options contracts. As part of the settlement, Polymarket agreed to wind down markets that violated CFTC rules.

However, the platform has since remained active and is now gaining renewed traction as interest in decentralized betting platforms grows – particularly in politically charged environments where traditional betting platforms may be restricted.

PARTNERSHIP | Social Media Platform, @X, Partners with Decentralized Prediction Markets, @Polymarket, to Help Audiences Contextualize Information

Polymarket and X aim to decentralize truth-discovery by integrating market-based forecasting onto X.https://t.co/M4b5MElbY8 pic.twitter.com/Aa0VIdjrbK

— BitKE (@BitcoinKE) June 7, 2025

Polymarket has not yet publicly confirmed the new funding round or valuation.

 

 

 

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Press Release

 

Bitget, the leading cryptocurrency exchange, and Web3 company, has concluded a successful showing as a Diamond Sponsor at the Kenya Blockchain and Crypto Conference 2025. As part of its ongoing commitment to driving global adoption and financial inclusion, Bitget brought education, expert insights, and meaningful dialogue to one of Africa’s most vibrant crypto communities.

As part of its participation, Bitget hosted a high-impact Masterclass attended by over 100 participants from the conference. The session introduced attendees to the fundamentals of blockchain and cryptocurrency, followed by a deep dive into Bitget’s product ecosystem. From P2P trading and fiat onramps to spot, futures, and copy trading, participants were given a hands-on understanding of how Bitget’s offerings enable smarter, more accessible trading for users at every stage.

Bitget also delivered a keynote presentation led by Andrew Letting, which explored how fintech companies can leverage Bitget’s institutional infrastructure to integrate digital asset solutions. The keynote outlined Bitget’s powerful APIs, liquidity access, and secure backend systems as foundational tools for businesses building crypto-enabled services.

Further emphasizing its leadership role in the ecosystem,  Bitget Kenya Marketing Lead, Mathendu Lorena, took part in a panel alongside key industry players. On the panel, OKX, MEXC, YIKSI, and Busha, explored the role of crypto exchanges in driving mass adoption across the region. Mathendu highlighted Bitget’s localized strategies, educational efforts, and product accessibility as critical to accelerating crypto literacy and usage in Kenya.

Bitget’s presence at the Kenya Blockchain and Crypto Conference reflects its ongoing dedication to emerging markets and the empowerment of local communities through innovation and knowledge-sharing. Born in a bear market, Bitget insists on putting users first, focusing on product innovation, and advocating long term prospects with the spirit of “earnestness.”

Bitget aims to inspire people to embrace crypto and improve the way they earn, one trade at a time. As Africa continues to grow as a major force in the crypto economy, Bitget remains committed to being a partner in progress for the continent’s digital future.

 

About Bitget

Established in 2018, Bitget is one of the world’s leading cryptocurrency exchange and Web3 company.

Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

 

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

 

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

 

 

 

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A new report by Artemis sheds light on the usage of stablecoins in real-world payments, revealing several unexpected trends.

The findings are based on a survey of 31 companies that facilitate mainstream stablecoin transactions. While Artemis estimates that annual sanitized stablecoin payments amount to around $26 trillion – primarily tied to crypto trading – the surveyed companies processed real-world payments at an annualized rate of $72 billion as of February 2025.

Some results aligned with expectations. Business-to-business (B2B) transactions made up half of the $6 billion in real-world stablecoin payments during February, marking a 288% jump from the $772 million recorded a year earlier. On average, B2B payments on Ethereum and TRON blockchains were quite large, with transaction sizes averaging $219,000.

In contrast, networks like Polygon recorded average payments of less than $10,000.

Unsurprisingly, Tether’s $USDT outpaced $USDC in real-world payment volume. However, its dominance – accounting for 90% of such payments in January and 86% in February – was greater than expected, especially considering its market cap is only about 71% of USDC’s. That said, Tether has historically exhibited higher transaction velocity.

In the last 24 hours alone (as of this writing), the volume of Tether payments represented 26.6% of its market cap, compared to 10.8% for USDC. While this makes sense in the context of crypto trading, the trend appears to hold for real-world payments too.

 

TRON Emerges as the Leading Blockchain for Stablecoin Payments

Perhaps the most surprising finding was TRON’s overwhelming lead in processing real-world stablecoin payments.

While a 2023 Brevan Howard Digital report already highlighted TRON’s dominance in emerging markets across Africa, Asia, and Latin America, its extensive use for payments originating in the U.S. and Europe was unexpected. Despite skepticism from U.S. users – frequently seen on platforms like Reddit – TRON remains widely used, including for Western-origin payments.

STABLECOINS | Over 1/2 of the Total $USDT Circulation and a 1/3 of the Total Stablecoin Supply is on #TRON Network

TRON is looking to introduce an end-to-end USDT.trx via @Stablecoin support across payment routes and integrate direct fiat conversionshttps://t.co/qjXk6D3Orq pic.twitter.com/5Tex93eyLP

— BitKE (@BitcoinKE) May 26, 2025

This usage pattern suggests that the destination of a payment, not just its origin, heavily influences the choice of blockchain.

For instance, if a payment from the U.S. or Europe is destined for a market that prefers TRON, that preference can determine the blockchain used across the whole payment corridor. A notable example is the Singapore-China corridor. Despite Ethereum making up over 60% of usage in Singapore, TRON’s more than 90% share in China likely drives blockchain choice for cross-border flows.

TRON initially rose to popularity for its low costs and high scalability. However, fees have increased over time. Today, TRON transactions are significantly more expensive than those on other major blockchains, many of which still charge just cents. That said, users can reduce costs by staking TRON tokens to earn gas (energy), which helps offset transaction fees.

Ethereum ranked as the second most used blockchain in the study and held particular strength in Nigeria, where it was the dominant choice. It also accounted for the majority of usage in countries such as Kenya, Uganda, South Africa, as well as Peru and Argentina.

This is an interesting read https://t.co/EqIKNl03wI

Ethereum Remains the Most Popular Blockchain Among Developers in Africa, Says 2024 Crypto Developer Report

— Emmanuel (Anehita) (@anehita_x) December 14, 2024

By contrast, TRON was the clear leader in Brazil, where Ethereum saw minimal adoption.

The Artemis report, produced in collaboration with Castle Island Ventures and Dragonfly, concludes that real-world stablecoin payment trends don’t always align with expectations. Tether’s usage significantly surpasses its market share, and blockchain preferences are shaped more by payment corridors and destination country usage than by where the transaction originates.

 

 

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The Monetary Authority of Singapore (MAS) has announced expanded oversight under the Payment Services Act, now requiring crypto service providers – including custodians and wallet operators – to implement stricter safeguards.

As of June 30 2025, any entity incorporated in Singapore – whether a company, partnership, or individual – that provides digital token services to overseas clients must either:

Obtain a Digital Token Service Provider (DTSP) licence under the Financial Services and Markets (FSM) Act 2022, or

Immediately cease operations involving foreign markets.

This directive leaves no room for interpretation. MAS has stated explicitly that there will be no grace period, no transitional arrangements and no extensions.

Any entity falling within the scope of these new rules must comply or shut down cross-border digital asset activity.

Importantly, these restrictions apply regardless of the scale of overseas business activity.

MAS has refused all requests for a phased implementation stating that this would expose the market to unacceptable risks, particularly financial crime.

Violating the June 30 2025 deadline is a criminal offense with up to ~$200,000 and imprisonment for up to three years.

The @MAS_sg has delivered a clear mandate!

ALL entities offering digital token services overseas MUST obtain a licence or halt cross-border operations IMMEDIATELY.

VIOLATING the June 30 2025 deadline is a CRIMINAL OFFENSE with fines of up to ~$ 200K and up to 3 years in jail. pic.twitter.com/DJkM6KK82s

— BitKE (@BitcoinKE) June 24, 2025

Key Provisions:

Mandatory segregation of customer assets to prevent misuse of funds and enhance investor protection.

Expanded licensing regime covering not just domestic but also cross-border transactions and services – regardless of whether the underlying assets or parties reside in Singapore.

Extraterritorial supervision of crypto firms serving Singaporean customers, even if the services are based abroad.

 

The changes, effective April 2024, align with the broader principles outlined in the Financial Services and Markets Act (FSMA) passed in 2022, and aim to address regulatory blind spots that have emerged as the crypto ecosystem rapidly evolves.

“Segregation of customer assets is a critical step in protecting investors. This is part of a broader shift globally, where regulators are closing gaps exposed by events like the FTX collapse,” says Anton Golub, a digital asset regulatory advisor.

FTX Token ( $FTT) Plummets By Over 90% in 7 Days as FTX Files for Bankruptcy

FTX has filed bankruptcy for https://t.co/WZ8ucfX0l5, FTX US, Alameda Research, and about 130 affiliates. At the same time, the CEO, Sam Bankman-Fried is resigning.https://t.co/MuEkUncpgb

— BitKE (@BitcoinKE) November 12, 2022

What is the FSMA, and Why Does It Matter?

The Financial Services and Markets Act 2022 was a landmark legislative move by Singapore to consolidate and enhance its regulatory framework across financial sectors. In the context of crypto, FSMA:

Empowered MAS to oversee digital token services provided from abroad to local users.

Introduced strict anti-money laundering (AML) and counter-terrorism financing (CFT) standards for service providers, even if they are based outside Singapore.

Increased financial penalties and compliance obligations across a wide range of financial activities.

Allowed for more streamlined enforcement by giving MAS broader and more flexible regulatory authority.

In essence, FSMA extended Singapore’s regulatory reach beyond its borders, ensuring that crypto firms targeting Singaporeans – regardless of where they’re based – must comply with local standards.

Here’s a concise summary of the penalties under Singapore’s Financial Services and Markets Act (FSMA) 2022:

FSMA Non-Compliance Penalties:

) Unlicensed Crypto Services (Including Offshore Firms)

Fines up to SGD 1 million

Daily fines up to SGD 100,000

Up to 10 years imprisonment

) AML/CFT Violations

Fines up to SGD 1 million per breach

Possible license revocation and criminal charges

) False or Misleading Statements to MAS

Fines up to SGD 100,000

Up to 2 years imprisonment

) Failure to Segregate Customer Assets

License suspension, fines, and public reprimand

Customers may sue for compensation

) Broad MAS Enforcement Powers

Authority to search, seize, suspend licenses, and issue prohibition orders

[TECH] CEO of FTX Crypto Exchange, Sam Bankman-Fried, Sentenced to 25 Years in Prison: Sam Bankman-Fried, the Co-Founder and former CEO of crypto exchange, FTX, and trading firm, Alameda Research, was senten.. https://t.co/BmtGBy8Tz6 via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) March 29, 2024

A Global Regulatory Realignment

Singapore’s move is not an isolated case.

Across the globe, jurisdictions are tightening supervision of virtual asset service providers (VASPs) and closing the loopholes that once allowed high-risk behavior to go unchecked.

In the European Union, the Markets in Crypto-Assets (MiCA) regulation will soon come into full effect, mandating strict consumer protection standards, capital requirements, and transparency obligations.

Hong Kong’s VASP licensing regime now requires firms to prove robust risk controls and comply with FATF guidelines.

UAE’s VARA is pushing for asset segregation and enhanced disclosure standards.

Similarly, other jurisdictions are rolling out or refining VASP licensing regimes, often with a strong emphasis on custody protections and cross-border enforceability.

REGULATION | Financial Action Task Force (FATF) Urges Countries to Develop Regulatory Frameworks for Rapidly Growing Virtual Assets

“The findings of the 2023 Targeted Update report, mutual evaluation and follow-up report results indicate that prohibiting VASPs effectively is… pic.twitter.com/ybYWoSYFhM

— BitKE (@BitcoinKE) July 12, 2024

This reflects a broader trend:

Protecting retail investors Encouraging compliant innovation Preventing systemic risks across borders

The era of unregulated crypto experimentation is coming to an end. As the space matures, regulatory convergence is accelerating, creating a more stable environment for institutions, developers, and users alike.

REGULATION | South Africa Adopts the Crypto-Asset Reporting Framework (CARF) Global Standard to Crack Down on Crypto Money Laundering

The framework initially received approval in March 2023 with the 48 countries that embraced this standard recently setting a deadline of 2027… pic.twitter.com/v2sscxJloh

— BitKE (@BitcoinKE) November 16, 2023

 

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Luno, the cryptocurrency exchange with South African roots, has officially relaunched in Kenya, marking a key milestone in its continued expansion across the continent.

According to a press release by Luno shared with BitKE, the re-launch provides Kenyan users with a simple, secure, and fully regulated way to buy, sell, and hold cryptocurrencies such as Bitcoin, Ethereum, USDT, and others.

Luno initially entered the Kenyan market in 2013 under the name BitX. With over 12 years of experience and active operations in more than 40 countries, Luno says the platform returns to Kenya with a strong emphasis on user safety, service reliability, and regulatory alignment.

The platform now allows Kenyans to instantly buy and sell cryptocurrencies with zero commission. Users can trade directly in Kenyan Shillings (KES), with available trading pairs including:

BTC/KES

ETH/KES

USDT/KES, and

USDC/KES

Global trading pairs such as BTC/USDT are also supported, allowing users to take advantage of both local and international arbitrage opportunities.

In addition, Luno offers referral rewards for users who bring others on board and stay active.

 

“We’re thrilled to officially relaunch in Kenya, delivering a comprehensive suite of crypto trading tools designed for both retail and institutional users,” said Apollo Sande, Country Manager, Luno Kenya.

“Our focus is on making crypto accessible, transparent, and trustworthy by equipping users with the tools, education, and support they need to make smart investment choices.”

Sande further emphasized:

“Kenya remains one of Africa’s most vibrant crypto markets, driven by a tech-savvy and informed population. Our platform is built to provide a safe, easy, and trustworthy experience for every user.”

48% of Crypto Holders in Kenya, Nigeria, South Africa Invest to Pay for Education, Reveals Latest Luno Report: https://t.co/DqI0FOKniq @LunoGlobal

— BitKE (@BitcoinKE) October 4, 2021

Luno has engaged regulators and key stakeholders throughout its journey, contributing to the evolution of Kenya’s crypto regulatory and taxation landscape. With a global user base of over 15 million, Luno says it has been built with institutional-grade security and has never experienced a breach since its inception.

 

Supporting Kenya’s Digital Finance Agenda

The platform’s return coincides with Kenya’s move to finalize its digital asset regulatory framework.

[TECH] REGULATION | The Kenya Virtual Assets Providers Bill 2025 Gets Gazetted Ready for Discussion in Parliament: Kenya’s proposed Virtual Assets Bill seeks to regulate the crypto space by requiring all fir.. https://t.co/Clpp8tlNx3 via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) April 9, 2025

As reported by BitKE in 2024, Luno was the first dedicated crypto service to receive the South African Financial Services Provider (FSP) license from the Financial Services Conduct Authority (FSCA) under the classification of crypto assets as financial products by the Financial Advisory and Intermediary Services Act of 2002 (FAIS).

MILESTONE | #Luno Becomes the First Dedicated Crypto Service to Receive the South African Financial Services Provider License https://t.co/n3wc3sxBbO

— Cryptolid.io (@Cryptolid_io) April 13, 2024

Luno is actively collaborating with both industry peers and government institutions to promote safe and sustainable crypto adoption. This includes addressing risks posed by peer-to-peer (P2P) platforms, such as:

Fraud

Transaction delays

Regulatory gaps, and

Lack of accountability

To boost user trust, Luno says it releases monthly Proof-of-Reserves reports – verified by independent auditors – to demonstrate that all customer assets are backed 1:1 at all times.

Scams Are on the Rise and Make Up 95% of All Crypto Crimes in Africa, Says Latest Luno Report https://t.co/dVZfAZ81MJ @LunoGlobal

— BitKE (@BitcoinKE) February 2, 2022

The platform also claims to support institutional users such as:

Market makers

Asset managers, and

Regulated entities

through tailored trading infrastructure.

 

The Luno app is now available in Kenya on iOS, Android, and through the web.

 

 

 

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The African Development Bank Group (AfDB) has wrapped up a high-level workshop in Bangui, Central African Republic (CAR), aimed at building national capacity to combat illicit financial flows (IFFs) and tighten governance around resource-backed loans – a financing tool increasingly used across Africa but fraught with risk.

Held from June 10–13 2025, under the theme “Harnessing Africa’s Wealth: Curbing Illicit Financial Flows for Resilient Growth and Development,” the event convened 80 key stakeholders across government ministries, civil society, and the private sector. The initiative was led by the Bank’s African Development Institute (ADI) and Natural Resources Management and Investment Centre (ECNR) under the GONAT programme, which targets better natural resource governance in fragile states.

 

Why It Matters

Illicit financial flows cost Africa an estimated $88 billion annually, draining resources that could fund roads, healthcare, education, and innovation. For CAR – a country rich in gold, diamonds, and uranium but plagued by instability and weak institutions – the stakes are especially high.

“Without enhanced oversight, institutional capacity, and sound strategic planning, natural resources can become a source of political instability, illicit activities, and unsustainable debt,” said Rufin Benam Beltoungou, Minister of Mines and Geology.

 

In 2023, the CAR introduced a controversial tokenization law which facilitated the establishment of businesses by both citizens and foreigners streamlining the process of obtaining licenses in sectors such s real estate, agriculture, natural resources exploitation, and forestry.

REGULATION | Central African Republic Officially Passes Law to Tokenize Land and Natural Resources –

“The groundbreaking Tokenisation Law, unanimously approved, paves the way for a business-friendly environment.

Entrepreneurs, both local and international, will flourish… pic.twitter.com/ocJQTMYcmV

— BitKE (@BitcoinKE) August 22, 2023

As reported by BitKE, the above legislation came after CAR revealed its intentions to tokenize its natural resources in 2022 under a master-plan dubbed ‘Project Sango’ which also came with its own cryptocurrency, the SANGO COIN.

@SeanIntiomale here’s an amazing example of what can be done in the #DRC and what we’re after as well with @AxalioRDC ~ Central African Republic (CAR) to Tokenize Minerals and Natural Resources, Says President https://t.co/FCM3CozxUG via @BitcoinKE

— John Lombela (@JohnLombela) June 9, 2022

Spotlight on Resource-Backed Loans

Panelists expressed concern over the increasing reliance on resource-backed loans (RBLs) – financial instruments collateralized by a country’s natural resources.

 

While useful for funding critical infrastructure, they can become debt traps if not transparently structured and monitored.

“Resource-backed loans can finance hospitals and schools, but repayment terms can be risky when the country lacks proper resource accounting,” noted Médard Goudozoui, a geological engineer.

Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential, African Development Bank President Warns

The continent would pay $74 billion in debt service payments this year [2024] alone, a sharp increase from $17 billion in 2010.… pic.twitter.com/2M7Dy1wP4J

— BitKE (@BitcoinKE) April 24, 2024

The sessions equipped participants with tools to trace and address IFFs, including:

The Partner Country Method for trade misinvoicing

Use of indices like the Financial Secrecy Index and Corruption Perceptions Index

Techniques to detect under- or over-valuation of exports, especially in the gold and diamond sectors

Kenyan investigators on high alert amidst escalating crypto crime!

With rising crypto scams, the @DCI_Kenya together with @EACCKenya, are stepping up.

Here’s why it matters: https://t.co/AHJRhrKbND @CMAKenya @CBKKenya #CryptoCrime #Kenya #CryptoRegulation pic.twitter.com/2WHmTE9z5v

— BitKE (@BitcoinKE) June 16, 2025

Gender and Governance

The workshop also emphasized inclusive governance, with the GONAT initiative aiming for at least 40% female participation.

“Women are central to affected communities. Their involvement enhances transparency, fairness, and social cohesion,” said Alexia Molotouala, Head of Division, Kimberley Process Secretariat.

“Sustainable change is only possible when women and local communities shape policy,” added Mamady Souaré, AfDB Country Manager for CAR.

Dr. Eric Ogunleye, Director of the African Development Institute, said the tools introduced would help CAR establish better control over its resource flows and borrowing decisions.

The Bank of Central African States (BEAC) Says it Will ‘Oversee the Crypto Project’ by Central African Republic (CAR)

BEAC is the issuer of CFA Franc which is the main currency in 7 French-speaking countries:

https://t.co/AJkdvHeBaw pic.twitter.com/PidmMHwPfL

— BitKE (@BitcoinKE) August 10, 2022

 

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_________________________________________

The future of crypto trading is unfolding before our eyes – and it’s happening on-chain.

Coinbase, Binance, and Bybit – three of the world’s largest centralized exchanges (CEXs) – are no longer simply watching DeFi from the sidelines. They’re entering the arena with serious intent, building on-chain infrastructure, and competing for liquidity in a market where decentralization is becoming the default.

But this isn’t just experimentation. It’s a response to something deeper happening in the crypto economy: the center of gravity is shifting. On-chain is no longer a playground for degens – it’s becoming the base layer for the Internet Capital Market.

 

_______________________

TL;DR:

Coinbase, Binance, and Bybit are rolling out major on-chain features.

Hyperliquid and other DeFi-native venues are stealing market share through better execution and deeper liquidity.

CEXes are adapting, not dying—they’re becoming infrastructure players in the on-chain economy.

For builders and traders, the on-chain shift is no longer optional—it’s the future.

_______________________

 

The CEX-On-Chain Shift

Each major CEX is carving out its place in the on-chain future:

Coinbase has launched DeFi routing through its app, letting users access liquidity across protocols directly from the interface they trust. It’s also backing KYC-verified DeFi pools, enabling institutional capital to enter permissioned DeFi ecosystems – effectively blending regulatory compliance with on-chain composability.

#Coinbase’s millions of users will soon be able to trade directly on decentralized platforms like @AerodromeFi.

This will not just bring millions of new users to @buildonbase #DeFi, but will give @coinbase customers access to any token that trades on #Base. @jessepollak pic.twitter.com/xaZFdklTZu

— BitKE (@BitcoinKE) June 15, 2025

Binance introduced the “Alpha Zone”, a curated token discovery layer offering pre-spot listing access across Ethereum, Solana, and BNB Chain. Think of it as a decentralized testnet for token relevance, allowing users to engage with early-stage assets while Binance collects data and volume before they ever go mainstream.

LISTING | @binance Launches Community Votes for Token Listings and Delistings

Through its new Community Co-Governance Mechanism, users are now able to vote on select tokens’ fates – both new listings and potential removals.https://t.co/VhTEGAOYd6 pic.twitter.com/1DojLidUA6

— BitKE (@BitcoinKE) April 9, 2025

Bybit has combined RFQ (Request for Quote) pricing with CLMMs (Concentrated Liquidity Market Makers) on Solana. This hybrid model offers CEX-grade trade execution on-chain, plus sticky vaults that incentivize capital to stay parked—pushing capital efficiency up and friction down.

 

Why Now?

Two words: Hyperliquid volumes.

Protocols like HyperliquidX – a fully on-chain perpetuals DEX – are no longer just “alternatives” to Binance or Bybit. They’re taking real market share. On some days, they even surpass major CEXs in volume for specific markets.

TOKEN ANALYSIS | @HyperliquidX Token ( $HYPE ) Hits New All-Time High Amid CFTC Boost for Perpetual Futures

Hyperliquid L1’s Total Value Locked (TVL) also hit a new high of $1.33 billion, ranking it among the top 10 blockchains by #DeFi TVLhttps://t.co/YbyuqreUQt pic.twitter.com/WulY6WJfRJ

— BitKE (@BitcoinKE) May 24, 2025

This isn’t a blip. It’s a structural shift in how liquidity forms, how markets price assets, and where traders go for the best execution.

 

Price discovery is migrating on-chain.

 

And CEXs can’t afford to miss it.

They’re no longer the gatekeepers – they’re becoming bridges.

 

What This Means for Builders and Traders

The implications are clear:

For builders: If your protocol isn’t on-chain – or isn’t composable within the emerging on-chain liquidity web – it risks irrelevance. As the market moves to trustless infrastructure, surface area for integrations will define survival.

For traders: The best execution, deepest liquidity, and fastest market reflexes are increasingly found on-chain. Being CEX-native alone is no longer enough.

 

We’re witnessing the collapse of CeFi walls from the inside. Centralized exchanges aren’t being disrupted – they’re transforming. The distinction between DeFi and CeFi is blurring, fast.

 

 

 

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___________________________________________

 

By Blessing Mene

 

Across Africa, agritech is faltering – not with a bang, but with silence. And yet, amid the pitch decks, panel discussions, and rising user numbers, few in the ecosystem are sounding the alarm.

But we need to.

The truth is: African agritech is copying fintech models, chasing vanity metrics, and building impressive technology that farmers barely use. This isn’t just a funding concern – it’s a fundamental business model crisis.

 

1.) Agritech Is Not Fintech – And That’s Okay

Fintech thrives on volume. Millions of microtransactions mean even a 0.5% transaction fee can generate significant revenue.

Agritech? Not the same.

An agrifinancing platform might process 3,000 transactions in a month, and a commodity aggregator may close 15 large contracts over the same period. Copy-pasting fintech’s pricing model simply doesn’t work. Agritech success is margin-driven, not volume-driven.

We must stop pretending. Pricing should reflect value delivered, not mimic app-based platforms with daily user interactions.

Ironically, Coca-Cola remains one of Africa’s most profitable agri-distribution models. They don’t grow crops – but they move sugar-based products with unmatched efficiency. Agritechs would do well to borrow that playbook: logistics, branding, smart pricing, and mass distribution.

How Opera’s @minipay is Serving as a Distribution Channel for African Blockchain Startups – https://t.co/IQ5wwFBx5e

— Africa Tech Summit – Accra 24-25th Sep (@AfricaTechSMT) April 14, 2025

2.) User Numbers Are Up – But Revenues Are Missing

Every week, startups tout big user bases:

“100,000 farmers onboarded.” “500,000 downloads.”

 

But if each user paid just $10 per month, that should equate to millions in revenue. So where is it?

The answer: many of those users aren’t paying customers. They were onboarded through donor subsidies, free pilots, or simply represent dormant accounts.

Meanwhile, real-world agri-businesses – cassava processors in Ogun, feed millers in Accra – may have just 80 customers. But they operate profitably. They focus on unit economics, inventory turnover, and cash flow — not vanity dashboards.

If your platform claims impact, your books should show income. Otherwise, it’s not a business. It’s a grant project.

FUNDING | Human Rights Foundation Grants 1 Billion Satoshis (10 $BTC) to Support 23 Global #Bitcoin Projects – 4 Are African Projects

Spanning Latin America, Africa, and Asia, the latest cohort of recipients includes initiatives that build tools, foster education, and expand… pic.twitter.com/N89T2eP2i9

— BitKE (@BitcoinKE) April 4, 2025

3.) We’re Building Tech That No One Uses

We’ve become obsessed with building: AI dashboards. IoT tools. Mobile apps.

But ask farmers, and they’ll tell you what matters:

Fertilizer that arrives on time

Buyers who actually pay

Working capital that’s fair

A human being to call when things go wrong

These aren’t novel problems – they’re the essential ones. And if the solutions we’re building aren’t addressing them, then we’re not solving for the user. We’re building for the funder.

Until we return to real problems, real unit economics, and real value creation, the sector will continue to quietly collapse — no matter how many farmers are “onboarded.”

[TECH] Kenya’s Blockchain-based Agritech Startup, FarmShine, Raises $250, 000 in Funding: FarmShine, a Kenyan Agritech startup that connects farmers with information and suppliers, has raised $250, 000 (KE.. https://t.co/GYK3WYEnz1 via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) December 6, 2019

 

Edited by BitKE. The original post was published here.

 

 

 

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_________________________________________

The Nigerian Securities and Exchange Commission (SEC Nigeria) has issued a strong warning to the public against engaging with CMTrading, a cryptocurrency trading platform allegedly operating illegally in Nigeria.

According to SEC Nigeria, CMTrading is neither registered nor regulated by the Commission, making its operations within the country unauthorized and potentially dangerous to investors.

 

In a public notice dated June 21, 2025, the Commission stated:

“The attention of the Securities and Exchange Commission (‘the Commission’) has been drawn to the activities of CMTrading, an online trading platform that claims to offer a wide range of financial services including Forex and CFDs trading on commodities, indices, and cryptocurrencies.

The commission herey informs the public that the CMTRADING is NOT REGISTERED by the Commission either to solicit investments from the public or operate in any capacity within the Nigerian capital market.”

 

The platform also claims to be licensed as GCMT South Africa PTY Ltd by the Financial Sector Conduct Authority (FSCA) of South Africa and as a securities dealer by the Financial Services Authority (FSA) of Seychelles.

According to SEC Nigeria, the platform uses cloned websites of reputable media houses to attract unsuspecting victims. It also posts cloned videos and pictures of prominent Nigerians on social media, promising monetary benefits to subscribers.

The platform allegedly used misleading content and media to create a false impression of credibility and compliance, with SEC Nigeria confirming that all such claims are false.

The SEC emphasized that any individual or organization that deals with CMTrading does so at their own risk, as the firm is not licensed to operate in the Nigerian capital market.

The Commission reiterated its mandate to protect investors and warned Nigerians to always verify the regulatory status of any investment platform before participating.

This warning is part of SEC’s ongoing efforts to clamp down on illegal investment schemes and protect the public from financial fraud, particularly in the fast-growing but often risky digital asset space.

REGULATION | @officialEFCC Releases List of 8 Nigerians and Kenyans Alleged to Be Behind CBEX Fraud

The platform has attracted users from various countries, including Kenya and Egypt. In Kenya, individuals complained of losing fundshttps://t.co/26kVa9blHG @DCI_Kenya pic.twitter.com/sNquFMaB4s

— BitKE (@BitcoinKE) April 28, 2025

Following the lifting of Nigeria’s crypto ban by the Central Bank in December 2023, the SEC has stepped up its oversight of digital assets, particularly under its new framework for Virtual Asset Service Providers (VASPs). The regulator now requires all promoters of crypto-related products to register under its digital asset rules, or face enforcement action.

 

“Anyone who engages with the entity or its representatives does so at his/her own risk,” the SEC reiterated.

REGULATION | Influencers in Nigeria Must Promote Only Licensed Crypto Firms, Says Revised @SECNigeria Regulations

Failure to comply could result in a fine of N10 million Naira (~$6,500) and a prison sentence of up to 3 years.https://t.co/KOQb0JUu1Q pic.twitter.com/bjRRBivvRl

— BitKE (@BitcoinKE) December 23, 2024

This is not the first time Nigeria’s SEC has moved to protect retail investors from crypto schemes. Since 2021, the Commission has repeatedly warned the public against engaging with platforms and projects that:

Lack registration or licensing in Nigeria;

Offer unrealistic investment returns; or

Promote anonymous, high-risk digital tokens without clear disclosures.

REGULATION | Nigerian Regulator, @SECNigeria, Once Again Warns Public Against Unauthorized Digital Asset Platforms

The SEC urged prospective investors confirm the registration status of financial institutions via its official database below:https://t.co/p4pX1x7c76 pic.twitter.com/ZNVqhDmGyJ

— BitKE (@BitcoinKE) April 26, 2025

The Commission strongly advises the Nigerian public to:

Avoid participating in the ongoing presale of Punisher Coin;

Verify the registration status of any crypto promoter or project using the SEC’s dedicated portal;

Be skeptical of operations promise unusually high returns and heavily rely on a referral system to sustain pay-outs and  with desperate requests for subscribers to fund accounts.

The SEC Nigeria’s firm stance is part of a broader effort to build a safer, more transparent capital market, as Nigeria grapples with balancing fintech innovation and consumer protection.

With an estimated over 33 million crypto users as of 2024, Nigeria remains one of the largest crypto markets globally – but one where regulation is still evolving.

The SEC’s approach suggests a clear red line: unregistered projects promoting speculative assets will not be tolerated.

REGULATION | ‘We Will Not Allow Unlicensed Crypto Businesses to Operate Within Our Space,’ Warns SEC Nigeria

The announcement follows the recent move on August 29 2024 by the SEC to grant two digital asset exchanges ‘Approval-in-Principle’ to begin operations under the… pic.twitter.com/bUJQbfYqv2

— BitKE (@BitcoinKE) September 12, 2024

 

 

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_________________________________________

The Kenya Bankers Association (KBA) is now exploring tokenized collateral frameworks, according to a recent op-ed by Frank Mwiti, the CEO of the Nairobi Securities Exchange (NSE).

This revelation marks a significant step forward in the modernization of Kenya’s banking sector and aligning with the growing trend of blockchain adoption in financial markets.

As the umbrella body for commercial banks in Kenya, KBA’s interest in tokenization underscores its commitment to leveraging emerging technologies to improve lending, investment, and capital efficiency. The use of tokenized collateral – the digital representation of traditional assets such as real estate or securities on a blockchain – is being examined for its potential to:

Streamline loan processing

Reduce friction in asset transfers, and

Improve transparency.

This initiative places KBA alongside other major institutions embracing tokenization.

South African Financial Regulators Launch Project Khokha 2 to Issue, Clear, and Settle Tokenized Debentures: https://t.co/zrpYb8yqwd @FintechHubSA #IFWG

— BitKE (@BitcoinKE) February 11, 2021

Notably, the Nairobi Securities Exchange (NSE) recently partnered with Hedera Hashgraph and DeFi Technologies to explore the issuance of security tokens on a regulated platform. That partnership aims to make it easier to tokenize and trade Kenyan securities, opening up capital markets to more investors, including those from the diaspora.

TOKENIZATION | Nairobi Securities Exchange (NSE) Joins #Hedera Network Council to Accelerate Tokenization of Real World Assets

The NSE joins other Council members in running a node on the Hedera with governing powershttps://t.co/T8px1qzKw8 @NSE_PLC @hedera @InsideHedera pic.twitter.com/sYDz9nbEZv

— BitKE (@BitcoinKE) October 31, 2024

Both KBA and NSE’s moves reflect a broader trend in Kenya’s financial ecosystem – a shift towards digital infrastructure that supports blockchain-enabled financial products. For the banking sector, tokenized collateral could allow faster settlement of secured loans, unlock new lending models, and lower barriers for participation in the formal credit market.

 

What is Tokenized Collateral?

From a banking perspective, tokenized collateral refers to the digital representation of traditional collateral assets (like property, vehicles, stocks, or fixed deposits) on a blockchain or distributed ledger – turning them into “tokens” that can be easily tracked, verified, and transferred.

Here’s a breakdown of what it means in practice:

 

Collateral in Traditional Banking

In conventional lending, borrowers must pledge assets (like land titles or vehicles) to secure loans. These assets serve as collateral that the bank can seize if the borrower defaults.

This process is often:

Paper-based and slow

Costly to verify and process

Prone to fraud or unclear ownership

Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential, African Development Bank President Warns

The continent would pay $74 billion in debt service payments this year [2024] alone, a sharp increase from $17 billion in 2010.… pic.twitter.com/2M7Dy1wP4J

— BitKE (@BitcoinKE) April 24, 2024

What Tokenized Collateral Changes

With tokenization, these physical or financial assets are converted into digital tokens on a blockchain platform. Each token is a secure, programmable representation of an asset – uniquely linked to its real-world counterpart.

For example:

A land title can be tokenized and stored on a blockchain

A vehicle logbook or warehouse receipt can also be digitized as a token

These tokens can then be:

Used as collateral in real-time loan transactions

Automatically verified through smart contracts

Traded or reassigned with greater efficiency

REPORT | McKinsey Reveals About $2 Trillion in Assets Could Be Tokenized By 2030

“Our estimate is exclusive of stablecoins, including tokenized deposits, wholesale stablecoins, and central bank digital currencies (CBDCs) to avoid double counting, as these are often used as the… pic.twitter.com/CyPisrgFym

— BitKE (@BitcoinKE) June 25, 2024

Benefits for Banks

Faster loan processing: Instant verification and tracking of collateral

Lower costs: Less paperwork and manual administration

Greater transparency: Real-time audit trails of pledged assets

Broader access: Can expand collateral options for underbanked populations

Reduced risk: Fewer disputes over ownership or value

BANKING | South African Banking Giant, NedBank, to Launch Pioneering Smart Contract Application in Agriculture

“Our agricultural clients want fast processes. They want frictionless, cost-effective solutions. They embrace technology.” – @Nedbank https://t.co/75XV72HgH2 pic.twitter.com/50vqHFT8H5

— BitKE (@BitcoinKE) April 7, 2025

Potential Use Cases

Digital lending platforms that accept tokenized real estate

Supply chain finance, where goods in transit are tokenized and used for credit

Diaspora finance, where assets in Kenya are tokenized and pledged remotely

TradeMark East Africa Set to Launch a Blockchain-Based Digital Trade Corridor Supply Chain System Between UK and Kenya: https://t.co/1FX8n2IX6m @TradeMarkEastA

— BitKE (@BitcoinKE) September 27, 2021

Challenges

Regulatory uncertainty around tokenized assets

Need for trusted asset verification and token issuance

Integration with existing banking systems

[TECH] EDITORIAL | In Crypto We Trust? Why Credibility Is the Real Currency (or Token) in the Age of Decentralization: The crypto industry was built on the ideals of trustless systems and decentralized proto.. https://t.co/qzhS314cyM via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) June 22, 2025

In summary, tokenized collateral allows banks to use blockchain to make lending faster, safer, and more inclusive – especially in economies like Kenya’s where trust, documentation, and access remain key barriers.

 

While these efforts remain in the exploratory phase, they are being closely watched by key stakeholders including regulators, financial institutions, and technology partners. If successful, they could set the stage for more inclusive and efficient financial services powered by blockchain.

 

 

 

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_________________________________________

Gold-backed tokens have quietly posted record-breaking volumes – signaling growing investor appetite for real-world assets (RWAs) onchain.

Over the past two weeks, combined onchain trading volumes for Tether Gold (XAUt) and Paxos Gold (PAXG) reached $236 million, marking a 247% spike from the prior fortnight. This also represents a 43% jump compared to early April 2025 when the current uptrend first began.

PAXG continues to dominate, accounting for 68% of the total volume, according to DeFiLlama.

What’s Driving the Spike?

The surge in onchain gold trading coincides with:

Persistent macro uncertainty – driven by U.S. tariff policy shifts and conflict in the Middle East.

Rising spot gold prices – which have climbed 29% over the last 6 months, and 2% over the past month.

Recovery in crypto markets – which appears to be fueling broader interest in non-volatile tokenized assets.

The spike reflects how onchain gold is increasingly viewed not just as a safe haven, but as a reliable liquidity asset during periods of geopolitical or market stress.

[TECH] The Rise of Gold-Backed Cryptocurrencies: Combining Tradition and Innovation: In recent years, investors have been exploring new ways to diversify their portfolios. Gold-backed cryptocurrencies have g.. https://t.co/Mf0qraCewl via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) May 30, 2024

Tokenized Stocks: The Next Wave?

The boom in gold-backed tokens comes just as institutional and DeFi players ramp up efforts to tokenize traditional equities.

TOKEN ANALYSIS | #RWA Launchpad, Collaterize $COLLAT Surges 300% in 5 Days Following @solana Founder Repost

“In our model, a portion of each tokenized asset goes into a dedicated liquidity pool ensuring it’s immediately tradable.” – @CollaterizeHQ https://t.co/gz57ATFHZs pic.twitter.com/PhI1RaxPJk

— BitKE (@BitcoinKE) May 22, 2025

Key Players:

Coinbase: The largest U.S.-based crypto exchange is reportedly seeking SEC approval to launch onchain stock trading, following comments from CFO, Alesia Haas, hinting at “security tokens” entering the mainstream.

Hyperliquid ($HYPE): A decentralized derivatives protocol, already popular for perp trading, is rumored to be working on tokenized equities as well.

Dinari ($dShares): While the giants talk, Dinari is building. The platform has seen a 760% TVL increase since March 2025 as users gain exposure to real-world stocks via blockchain.

TOKEN ANALYSIS | @HyperliquidX Token ( $HYPE ) Hits New All-Time High Amid CFTC Boost for Perpetual Futures

Hyperliquid L1’s Total Value Locked (TVL) also hit a new high of $1.33 billion, ranking it among the top 10 blockchains by #DeFi TVLhttps://t.co/YbyuqreUQt pic.twitter.com/WulY6WJfRJ

— BitKE (@BitcoinKE) May 24, 2025

Why It Matters

This uptick in onchain RWA activity is more than a short-term trend – it’s a clear signal of investor appetite for asset-backed stability onchain.

As regulators and innovators converge on tokenized securities, the recent performance of XAUt and PAXG offers a case study in what credible, compliant RWAs can achieve when integrated into DeFi rails.

With tokenized gold now setting volume records, and tokenized stocks on the horizon, a new era of compliant real-world asset trading may already be underway.

 

 

 

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___________________________________________

With the U.S Senate passing the GENIUS Act stablecoin legislation, two of the world’s largest retailers, Amazon and Walmart, are quietly building their own USD stablecoins – and it’s not just about embracing blockchain tech. It’s a strategic move to disrupt a $143 billion industry that’s been taxing merchants for decades: the payments business dominated by traditional banks.

EDITORIAL | The #GENIUS Act Could Redefine Stablecoins – And Trigger a New Wave of Players

If passed, the U.S. GENIUS Act could transform the global stablecoin market — opening the door to banks, Big Tech, and fintechs alike.https://t.co/n3r8jq5clZ #Stablecoins pic.twitter.com/sLcPz7vgi5

— BitKE (@BitcoinKE) June 13, 2025

The Problem: Every Tap of Your Card Pays a Toll

Every time a customer swipes or taps a card, three parties take a cut:

VISA and MasterCard claim around 0.14% in network fees.

Payment processors like Stripe and Fiserv take roughly 0.40%.

Issuing banks – the big winners – walk away with 1.8% in interchange fees.

 

These small percentages add up. In the last year alone:

VISA and MasterCard collected $19 billion

Payment processors earned $30 billion

Banks took home a staggering $143 billion in interchange fees

That’s $143 billion in what is essentially a hidden tax on U.S. merchants – and Amazon and Walmart are tired of paying it.

WORLD BANK: Poor Transparency to Blame for High Cost of Remittances in Developing Nations

DID YOU KNOW?

If the cost of sending remittances could be reduced by 5 percentage points relative to THE value sent, over $16B would be be saved per yearhttps://t.co/SXVEB124jg

— BitKE (@BitcoinKE) June 8, 2022

The Strategy: Replace the Middlemen With Stablecoins

Instead of relying on traditional card networks and banking intermediaries, both retail giants are exploring USD-backed stablecoins to streamline payments and control the rails themselves.

Here’s what stablecoins offer:

Real-time, on-chain settlement

Full control over cash flows

No reward-funded markups

Elimination of intermediary fees

Contrary to popular belief, the goal isn’t to kill VISA or MasterCard – it’s to bypass the banks and eliminate interchange fees that drain merchants annually.

Their vision is clear:

Replace cards with tokens

Replace bank float with programmable dollars

Replace legacy networks with smart contracts

And now, U.S. regulation is catching up.

THIS WEEK IN CRYPTO |

The U.S. Senate passed the #GENIUS Act, the first #stablecoin legislation to be approved by either Congressional chamber after several years of trying.#GENIUSAct #StablecoinRegulation pic.twitter.com/J2sfkmA754

— BitKE (@BitcoinKE) June 21, 2025

The Timing: Legal Clarity Arrives With the GENIUS Act

The recent passage of the GENIUS Act by the U.S. Senate marks a turning point. For the first time, there’s a federal framework for USD stablecoins:

Allows issuance by banks, fintechs, and qualified state entities

Requires 1:1 reserves, monthly audits, and AML compliance

Opens the door for regulated corporate stablecoin initiatives

 

This shift comes as major players are already making moves:

Ripple launched RLUSD

JPMorgan launched JPMD for institutional stablecoin settlements

Tether is tailoring U.S.-specific products

Amazon and Walmart are now positioning stablecoins as key to their retail dominance

REGULATION | Dubai Regulator Greenlights @Ripple‘s $RLUSD Stablecoin Within the Economic Zone Serving Middle East, Africa, and South Asia

The economic zone, which served as a hub for nearly 7,000 registered businesses by 2024https://t.co/dv32d8nEBN @XRP_ARMY_RIPPLE pic.twitter.com/zDV3ckd4Yg

— BitKE (@BitcoinKE) June 3, 2025

Why This Matters: Stablecoins Go From Crypto Hype to Strategic Infrastructure

Today’s stablecoin market sees over $1 trillion in monthly volume, with more than 90% driven by proprietary trading firms, hedge funds, and market makers. Most of this activity is used for settlement, rebalancing, and liquidity across exchanges – not retail payments.

But Amazon and Walmart are about to change that.

If they issue their own stablecoins and push them into everyday commerce, it’s not just a tech upgrade – it’s a direct attack on the foundations of traditional banking.

Interchange fees? Gone.

Merchant economics? Rewritten.

Bank revenue streams? Disrupted.

Consumer rewards programs? Upended.

In short, this could redirect over $100 billion in annual revenue flows away from the banking sector and into programmable, merchant-controlled ecosystems.

What we’re witnessing isn’t just a quiet fintech experiment. It’s a full-blown transformation of the payments landscape. With legal clarity, institutional momentum, and retail giants at the helm, stablecoins are poised to become the backbone of global commerce.

Amazon and Walmart aren’t just building new payment systems – they’re launching a calculated assault on the old ones.

 

 

 

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___________________________________________

Three individuals have been convicted and sentenced for internet fraud and money laundering in Maiduguri, Borno State, Nigeria, with one of the cases involving Bitcoin transactions – underscoring the continued use of crypto in illicit financial activities in Nigeria.

Justice K. Dagat of the Federal High Court handed down the rulings on June 18 2025, sentencing Enoch Adebayo Richard, Samdave Megwah (aka glorycyberfix), and Abdusalam Hassan to eight years imprisonment each, with an option of fines.

 

Details of the Case:

Samdave Megwah was found to have received Bitcoin and gift cards worth $600, which were converted into ₦900,000 and deposited into his Access Bank account.

Enoch Adebayo Richard received USD-denominated Cash App and gift cards, totaling ₦38,000.

Abdusalam Hassan possessed ₦451,000 in naira-equivalent proceeds from Cash App, PayPal, and gift cards.

Three Internet Fraudsters Bag Jail Terms in Maiduguri

Justice K. Dagat of the Federal High Court Maiduguri, Borno State on Wednesday, 18 June 2025 convicted and sentenced the trio of Enoch Adebayo Richard, Samdave Megwah(a.ka.a glorycyberfix) and Abdusalam Hassan to eight… pic.twitter.com/RkWUa41G5j

— EFCC Nigeria (@officialEFCC) June 20, 2025

The Economic and Financial Crimes Commission (EFCC) brought charges of impersonation and money laundering, citing that the accused knowingly received proceeds from fraudulent activities.

Upon their guilty pleas, the court ordered:

Forfeiture of the illicit funds

Confiscation of digital devices, including iPhones, Redmi phones, a Dell desktop, and Samsung Galaxy devices

Optional fines of ₦100,000 per count for each individual

This case adds to the growing list of financial crimes in Nigeria where Bitcoin and other digital assets are used to obscure transactions and bypass traditional financial scrutiny. Authorities have repeatedly flagged the role of gift cards, digital wallets, and crypto in scams targeting foreign victims.

REGULATION | Additional Level of Due Dilligence Needed Before We Announce Next Set of Provisional Crypto Licenses, Says Nigeria SEC Chief

The commission is collaborating with @officialEFCC, NFIU, and ONSAhttps://t.co/54gwAOeiq4 @SECNigeria pic.twitter.com/yHtzs87CG6

— BitKE (@BitcoinKE) April 16, 2025

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The crypto industry was built on the ideals of trustless systems and decentralized protocols – systems where code is law, and middlemen are unnecessary. But as billions of dollars flow through the blockchain economy, one principle has re-emerged as indispensable: credibility.

In a space where anyone can spin up a token or launch a protocol overnight, reputation has become the most valuable – and vulnerable – asset. As regulatory scrutiny intensifies and scams multiply, the crypto community is learning a hard lesson: trust is earned, not automated.

MILESTONE | ‘There Are ~1 Million Tokens a Week Being Created Now, and Growing,’ Says @coinbase CEO @brian_armstrong

With this surge in new assets, Armstrong proposed a new system to help manage the chaos: a block-list approach.https://t.co/RIJKiXD9n2 pic.twitter.com/auNVeitQZT

— BitKE (@BitcoinKE) January 28, 2025

_____________________

TL;DR

Blockchain removes intermediaries, but not the need for trust.

Reputation has become vital amid rising scams and regulation.

Credibility enables compliance, partnerships, and user trust.

In decentralized ecosystems, transparent actors win long term.

_____________________

 

The Paradox of Trust in a Trustless System

At its core, blockchain technology is designed to eliminate the need for trust in central authorities. Yet ironically, the success of crypto projects today often hinges on human trust – in founders, in teams, in brands.

Whether it’s a DeFi protocol audited by reputable firms, an exchange with a clean compliance track record, or a founder known for building responsibly, reputation acts as the filter through which users decide where to invest, stake, or store their assets.

As decentralization scales, the absence of central oversight means users rely more heavily on reputational cues – Twitter threads, GitHub commits, community sentiment, media coverage – to make decisions.

LISTING | @binance Launches Community Votes for Token Listings and Delistings

Through its new Community Co-Governance Mechanism, users are now able to vote on select tokens’ fates – both new listings and potential removals.https://t.co/VhTEGAOYd6 pic.twitter.com/1DojLidUA6

— BitKE (@BitcoinKE) April 9, 2025

That’s not decentralization failing; it’s decentralization demanding transparency and accountability by other means.

 

Scams, Crackdowns, and the Cost of Losing Trust

Africa, like many emerging markets, has seen a surge in crypto adoption – but also in scams. From fake trading bots to Ponzi-like coins like ZugaCoin and NuruCoin, regulators are struggling to keep up, often stepping in late.

SUNDAY READ – 2019 THROWBACK

NuruCoin, a Kenyan Cryptocurrency, Closes Shop with Billions of Investments Lost #NuruCoin got quite popular in #Kenya in 2018.

Apparently, over 11, 000 investors participated in the NuruCoin Initial Coin Offering (ICO) organized by Church… pic.twitter.com/acdp4Jmzdl

— BitKE (@BitcoinKE) February 18, 2024

When the Nigerian SEC flags tokens as unregistered or when Kenya’s Capital Markets Authority warns the public about unauthorized platforms, it’s often a reputational death sentence – even if those projects remain live.

The rise in fraud has prompted a wave of regulatory enforcement globally. In the U.S., the SEC has cracked down on exchanges like Binance and Coinbase. In Kenya and Ghana, central banks are tightening oversight.

REGULATION | #Binance Admits to Wrongdoings, to Pay $4 Billion Penalty as Founding CEO Steps Down

The U.S. Federal government also issued a warning to the rest of the cryptocurrency industry.https://t.co/wScRV3EGpb pic.twitter.com/Y4fYBhRmGm

— BitKE (@BitcoinKE) November 22, 2023

The message is clear: in this next phase of crypto, credibility isn’t optional – it’s existential.

 

Reputation as Compliance Capital

In this environment, crypto firms can no longer hide behind decentralization to avoid accountability. Users, investors, and regulators now demand:

Full disclosure of founders and teams

Audited smart contracts and published security reports

Clear compliance policies and local licenses

Proactive user protection, not just reactive fixes

Projects that treat compliance as an afterthought quickly lose ground. Those that build reputational capital – by engaging with regulators, publishing transparent metrics, and staying active in their communities – are better positioned to survive and scale.

In many ways, reputation is now a form of compliance capital – it enables access to partnerships, listing opportunities, fiat on-ramps, and user trust.

Leading South African Exchange, @VALRdotcom, and @moonpay Announce Integration to Enhance Global Crypto Access

This partnership enables VALR to support 34 fiat currencies, including:

* KES (Kenyan Shilling) * NGN (Nigerian Naira)

among others.https://t.co/Z8ZkB7yknL pic.twitter.com/yrEsyHOQBW

— BitKE (@BitcoinKE) June 11, 2025

In a Decentralized World, Reputation Is the Anchor

The beauty of decentralization is that no single entity controls the system. But that also means users must discern signal from noise on their own. Here, reputation becomes the anchor in a sea of permissionless innovation.

Credible founders like Vitalik Buterin or Brian Armstrong have proven that long-term reputation can outweigh short-term hype. Exchanges like Coinbase or Luno, despite their flaws, have built reputational moats that help them weather storms.

US Regulator Sues Coinbase for Allegedly Violating Securities Regulations

The lawsuit filed against Coinbase claims that the company has been functioning as an unregistered security broker starting from 2019, which is approximately two years prior to its initial public offering… pic.twitter.com/niEaQgj4UP

— BitKE (@BitcoinKE) June 8, 2023

In contrast, countless anonymous founders behind rug pulls have discovered that once trust is broken, it rarely returns.

 

The Future Belongs to the Credible

As crypto matures and integrates into the global financial system, it must shed its reputation as the Wild West. That transformation starts not with code or regulation, but with culture – a culture that values transparency, ethical leadership, and long-term thinking.

In the end, decentralization doesn’t absolve responsibility – it amplifies it.

 

Reputation is not just marketing. It’s infrastructure. And in the age of digital trust, credibility is the new collateral.

 

 

 

 

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_________________________________________

A Binance exclusive

Step aside, old-school money moves, Gen Z ( born between 1997 and 2012) is officially rewriting the rules of finance, one crypto wallet at a time. With hustle in their DNA, a side gig (or three) on speed dial, and an allergic reaction to outdated systems, Gen Z isn’t waiting around to be handed a seat at the table. They’re building a whole new one,  powered by decentralisation, memes, and a healthy dose of innovation.

And guess what? Binance has the receipts.

REGULATION | Nigerian High Court Orders Binance to Provide Authorities With Information on All Users

In a separate report, an analysis of trades conducted between February 19 -21 2024 revealed a cluster of Nigerian retail traders placing substantial buy orders for USDT that… pic.twitter.com/54HOpI2Nkf

— BitKE (@BitcoinKE) March 19, 2024

Binance is sharing exclusive data that reveals just how deeply Gen Z is involved in crypto. They’re not just passengers on this journey; they are behind the wheel.

 

Gen Z makes up 54% of Binance’s user base in Africa That’s not a typo. Over half of Binance’s known users in Africa are Gen Z.  This group is showing up, logging in and making money moves, and they’re doing it their way, mobile-first, meme-literate and mission-driven.

 

Their crypto curiosity is off the charts From January 2023 to May 2025, Gen Z users on Binance more than doubled, with a 107.6% growth rate. Whether they’re HODLing for the long haul or dipping their toes into trading, one thing is clear: crypto is more than a phase; it’s part of the Gen Z lifestyle, and millennials can learn a thing or two from them.

REGULATION | ‘Nigerian Youth Are Drawn to Cryptocurrencies Because of their Secretive Nature,’ Says SEC Nigeria

The comments come only a few days after the commission issued a notice to operators that it was amending its rules on Digital Asset Issuance, Offering Platforms,… pic.twitter.com/zZ6KZWTpd9

— BitKE (@BitcoinKE) June 28, 2024

From BTC to DOGE: Their portfolios are a vibe Blue chips like BTC, ETH, and SOL are still fan favourites (because duh, fundamentals matter). But Gen Z is also adding flavour with tokens, because where meme meets money, Gen Z thrives.

MARKET ANALYSIS | 80% of #MemeCoins in 2024 Witness Significant Growth After Listing on #Binance

60% of the memecoins listed on Binance in 2024 were built on @solanahttps://t.co/DbvcP63vZt @solana_daily @binance pic.twitter.com/29dcPWfUWr

— BitKE (@BitcoinKE) November 13, 2024

Their average crypto spend? Intentional is the order of the lifestyle While the average ticket size for Gen Z is lower than older generations (about a third), that’s by design. They’re not here to YOLO their life savings — they’re playing the long game, one smart move at a time.

 

They’re not trading 24/7 — and that’s a flex 56% of Gen Z traders on Binance only make 1–5 trades per month. They’re not chasing pumps. They’re strategic, selective and reading the whitepapers (okay, at least the TLDRs).

MILESTONE | #Binance Becomes the First Centralized Crypto Exchange to Surpass $100 Trillion in Trading Volume

The Binance platform now serves over 240 million users globallyhttps://t.co/aaDNSAlzTE @binance @_RichardTeng pic.twitter.com/2prJ1zlWgl

— BitKE (@BitcoinKE) November 22, 2024

Binance Pay is Gen Z’s new flex Over 9.1 million Gen Z users are already using Binance Pay, a number growing faster than a viral TikTok trend. Whether it’s paying friends, merchants, or contributing to global causes, this is how Gen Z does money: fast, borderless and friction-free.

 

And because Gen Z plays smart, Binance continues to invest in education and anti-scam tools to keep young users informed, empowered and protected. Being savvy isn’t just about trading; it’s knowing how to spot a scam before it slides into your DMs.

CALL FOR APPLICATIONS | @Binance and AltSchool Africa Partner to Empower 500 Africa Youth with Scholarships in 2025

This collaboration will offer certificates and diplomas in varied specialised education courses https://t.co/wtnU5EEf4E @AltSchoolAfrica @BinanceAfrica pic.twitter.com/aFokPAGyVF

— BitKE (@BitcoinKE) December 5, 2024

Some of them are already VIPs Surprisingly,  9.09% of Binance VIP users are Gen Z. So, while the average might be $27, some young crypto-savvy investors are taking their involvement to the next level. Early adopters, meet elite investors.

 

And if you’re wondering whether the ship has sailed, it hasn’t.

While Gen Z may be steering the wheel, this financial evolution has no age limit. Whether users are exploring their first token or thinking about long-term investment strategies, there’s still time to learn, grow, and thrive. The crypto world is open, and there’s space for everyone.

 

So what does all of this mean? The future of finance no longer wears a suit or carries a briefcase. It’s in sneakers, fluent in memes, and building the new financial paradigm in real time.

Gen Z is not waiting to be part of the financial system. Binance is not just observing this evolution; it is building the future alongside them, for them, and with them, all while upholding the highest standards of security and regulatory compliance.

 

 

Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser before investing. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.

 

 

 

 

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_________________________________________

Finding the next breakout crypto project isn’t about luck – it’s about data, discipline, and discerning real traction from the hype.

 

Here’s a practical guide to help you separate signal from noise in today’s market:

1. On‑Chain Metrics Matter

Track wallet activity, transaction volume, number of new holders, decentralized exchange (DEX) liquidity, and total value locked (TVL).

If capital is flowing before token price moves, that’s a sign.

Tools to use: Dune Analytics, Nansen, DeFiLlama.

2. Smart Tokenomics

Study the supply: circulating vs total, upcoming unlocks, vesting schedules.

Who owns the majority of the tokens? Is there real utility?

Projects with strong mechanisms like staking, burning, and fair launches often perform better over time.

3. Developer Activity

Check GitHub or similar repositories: commits, active contributors, ongoing development.

If nothing is being built, the project is stagnating — flashy websites alone aren’t enough.

4. Ecosystem Growth

Are new DApps launching? Are people integrating the tech? Is there return user activity?

A growing ecosystem with genuine utility is hard to fake.

5. Community Health

Monitor Twitter (X), Discord, Telegram, Reddit. Is it genuine user engagement or just hype bots?

Tools like LunarCrush and Santiment help, but always pair social metrics with fundamentals.

Real Examples of Early Traction

Solana (2020–21): Surged from <$1 to $50+ after massive user and volume growth driven by real-world DApps and NFTs.

Arbitrum (2021–23): Layer-2 with strong TVL metrics that exploded after its ARB airdrop. Infrastructure first, rewards later.

Chainlink (2019–24): Not flashy, but consistently adopted by DeFi protocols for oracle services. Steady growth, solid utility.

PEPE Coin (2023): Meme-driven but succeeded on the back of viral sentiment and well-timed distribution — a hype case study with early signs visible on-chain.

Traction vs Manufactured Hype

Real Traction Manufactured Hype Steady rise in users and TVL Sudden pump in volume, no backstory Frequent commits on GitHub Recycled influencer promo Diverse wallet ownership Few wallets holding most tokens App integrations and real use Empty “roadmaps” and speculation Sustainable liquidity Liquidity vanishes post-pump

Red Flags to Watch Out For

High token concentration in a few wallets

Unverified contracts on Etherscan or BscScan

No liquidity locks or contract audits

Insider token unlocks coming up

Anonymous team making “100x guaranteed” promises

TL;DR: How to Spot the Next Big Project

Follow the on-chain numbers — volume, wallets, TVL

Examine tokenomics — supply, unlocks, vesting

Look into developer activity — updates, commits

Watch for ecosystem growth — integrations, real-world usage

Study the community — tone, authenticity, engagement

Use tools, but think critically — combine social and technical indicators

Always check for smart contract security — audits, liquidity locks

In crypto, the smartest gains often go to those who ask the right questions early, dig into data, and ignore the noise.

Disclaimer: This article is for educational purposes only and not investment advice. Always DYOR (Do Your Own Research).

The Nigeria Securities and Exchange Commission (SEC Nigeria) has issued a fresh warning to the public, urging Nigerians to steer clear of ZugaCoin and Samzuga GPT, two digital asset schemes promoted by controversial cleric and entrepreneur, ArchBishop Sam Zuga.

According to the regulator, neither of the platforms is registered or approved to operate within Nigeria’s capital market.

ZugaCoin was first highlighted by BitKE back in 2022 when it was listed on the coin tracker, CoinMarketCap. Complains about traders and holders of ZugaCoin being unable to make withdrawals had already emerged at the time prompting BitKE to issue an alert regarding the coin.

Nigerian Archbishop Defends CoinMarketCap-Listed ZugaCoin After Scam Accusations

The project website indicates they have offices in 15 countries in Africa and 32 states in Nigeria, and they are achieving grassroots penetration.https://t.co/q07QEUVay8

— BitKE (@BitcoinKE) September 4, 2022

This latest public notice comes just days after SEC Nigeria issued yet another warning regarding the Punisher Coin ($PUN) which it labelled as an unregistered memecoin with no real utility or project backing with its market value driven solely by hype.

REGULATION | SEC Nigeria Flags Punisher Coin ( $PUN ) as Unregistered, Warns of Hype, Fraud, and Investor Risk @SECNigeria‘s warning follows a preliminary investigation which concluded that $PUN is a meme coin with no real utility or project backinghttps://t.co/tKEFfBMo8e pic.twitter.com/6URnPmpk0E

— BitKE (@BitcoinKE) June 19, 2025

_____________

TL;DR

The Nigerian SEC has declared Zugacoin and Samzuga GPT illegal and unregulated.

The platforms are not licensed to operate in Nigeria and pose high financial risk.

Investors are warned to avoid these schemes and report any fraudulent activities.

The warning highlights Nigeria’s ongoing efforts to protect citizens from crypto scams.

_____________

 

SEC: ZugaCoin, Samzuga GPT Are Operating Illegally

In a circular released on June 17 2025, SEC Nigeria made it explicitly clear that:

“Zugacoin and Samzuga GPT are not registered or regulated by the Commission, and their promoters are not licensed operators under the Nigerian Capital Market.”

 

This statement serves as a formal alert to the investing public that these projects are not backed by any legal regulatory framework in Nigeria and therefore pose a serious financial risk to participants.

The SEC also warned that the promoters of these platforms are aggressively marketing fraudulent investment schemes that promise unrealistic returns, often using religious language and charisma to gain trust.

REGULATION | Influencers in Nigeria Must Promote Only Licensed Crypto Firms, Says Revised @SECNigeria Regulations

Failure to comply could result in a fine of N10 million Naira (~$6,500) and a prison sentence of up to 3 years.https://t.co/KOQb0JUu1Q pic.twitter.com/bjRRBivvRl

— BitKE (@BitcoinKE) December 23, 2024

It emphasized that:

“Nigerian investors are advised to exercise extreme caution in dealing with any individual or organization promoting such unlicensed investment platforms.”

 

In particular, Sam Zuga, who often refers to himself as Africa’s first professor of digital economy, has made numerous unverified claims about the potential of ZugaCoin to replace fiat currency and become a mainstream financial instrument across Africa. These narratives, according to analysts and regulators, are misleading and exploit public trust.

ZugaCoin, launched in 2020, has previously come under scrutiny for making exaggerated claims about becoming “Africa’s equivalent of Bitcoin.” The coin’s value has plummeted from its initial hype, and many early investors have reported significant losses.

Similarly, Samzuga GPT, a more recent AI-backed crypto project, has been touted as an innovative financial solution but offers no transparency about its underlying technology, team, or business model. The SEC considers such projects to be red flags for potential scams.

SEC’s Broader Mandate to Protect Investors

This move by SEC Nigeria is part of a broader campaign to crack down on unlicensed crypto schemes, Ponzi operations, and fraudulent platforms that have proliferated in Nigeria’s digital asset space. The regulator is encouraging investors to verify any investment platform via the SEC’s official channels before committing funds.

“Participation in unregulated investment schemes exposes investors to the risk of total loss of investments,” the SEC warned.

REGULATION | ‘We Will Not Allow Unlicensed Crypto Businesses to Operate Within Our Space,’ Warns SEC Nigeria

The announcement follows the recent move on August 29 2024 by the SEC to grant two digital asset exchanges ‘Approval-in-Principle’ to begin operations under the… pic.twitter.com/bUJQbfYqv2

— BitKE (@BitcoinKE) September 12, 2024

What Investors Should Do

Verify registration of any investment scheme with the SEC via www.sec.gov.ng.

Be wary of high-return promises, especially from self-proclaimed “crypto experts” or religious figures.

Avoid platforms that lack transparency about operations, licensing, and management teams.

Report suspicious schemes to the SEC or the Nigerian Financial Intelligence Unit (NFIU).

 

Want to stay safe in the crypto space? Always verify, never speculate.

EXPERT OPINION | Why CBEX Will Happen Again in Nigeria, If Stakeholders Don’t Do Things Differently

In this special periscope, we highlight some major Ponzi schemes in Nigeria, why Ponzi schemes remain a plague https://t.co/uy8y37cm2X @officialEFCC @cenbank @SECNigeria pic.twitter.com/gIH8SnfLf9

— BitKE (@BitcoinKE) May 5, 2025

 

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_________________________________________

As retail interest in meme coins continues to surge, Nigeria’s Securities and Exchange Commission (SEC) has issued a stark warning to the public: avoid Punisher Coin ($PUN), a speculative digital asset the regulator says is unregistered, lacks intrinsic value, and poses a high risk of fraud.

“Promoters or issuers of $PUN are not registered to operate in any capacity in the Nigerian Capital Market,” the SEC stated in its June 2025 notice.

 

_________________________

TL;DR

Nigeria’s SEC warns against Punisher Coin ($PUN), calling it unregistered and risky.

$PUN is a meme coin with no utility, backed only by online hype and prone to pump-and-dump tactics.

Investors are urged not to participate in its presale and to verify all digital assets with the SEC.

The move continues the SEC’s crackdowns on unauthorized crypto schemes in Nigeria.

Regulatory oversight is tightening post-2023, with new licensing rules for VASPs in place.

_________________________

 

Why SEC Nigeria Is Sounding the Alarm

The regulator’s warning follows a preliminary investigation which concluded that:

$PUN is a meme coin with no real utility or project backing, and

Its market value is driven solely by hype, orchestrated by online communities and self-interested promoters.

According to the SEC, Punisher Coin exhibits all the hallmarks of a “pump-and-dump” scheme — where early backers aggressively promote a token to inflate its price, then sell off their holdings at the peak, leaving unsuspecting retail investors with heavy losses once the hype collapses.

This is not the first time Nigeria’s SEC has moved to protect retail investors from crypto schemes. Since 2021, the Commission has repeatedly warned the public against engaging with platforms and projects that:

Lack registration or licensing in Nigeria;

Offer unrealistic investment returns; or

Promote anonymous, high-risk digital tokens without clear disclosures.

REGULATION | Nigerian Regulator, @SECNigeria, Once Again Warns Public Against Unauthorized Digital Asset Platforms

The SEC urged prospective investors confirm the registration status of financial institutions via its official database below:https://t.co/p4pX1x7c76 pic.twitter.com/ZNVqhDmGyJ

— BitKE (@BitcoinKE) April 26, 2025

In May 2024, for example, the SEC issued a similar notice against “FinAfrica Investment Ltd” and “Chiji14xchange,” two platforms that were operating unauthorized digital asset schemes under the guise of investment services.

REGULATION | @officialEFCC Releases List of 8 Nigerians and Kenyans Alleged to Be Behind CBEX Fraud

The platform has attracted users from various countries, including Kenya and Egypt. In Kenya, individuals complained of losing fundshttps://t.co/26kVa9blHG @DCI_Kenya pic.twitter.com/sNquFMaB4s

— BitKE (@BitcoinKE) April 28, 2025

Following the lifting of Nigeria’s crypto ban by the Central Bank in December 2023, the SEC has stepped up its oversight of digital assets, particularly under its new framework for Virtual Asset Service Providers (VASPs). The regulator now requires all promoters of crypto-related products to register under its digital asset rules, or face enforcement action.

“Anyone who invests in Punisher Coin does so at their own risk,” the SEC reiterated.

REGULATION | Influencers in Nigeria Must Promote Only Licensed Crypto Firms, Says Revised @SECNigeria Regulations

Failure to comply could result in a fine of N10 million Naira (~$6,500) and a prison sentence of up to 3 years.https://t.co/KOQb0JUu1Q pic.twitter.com/bjRRBivvRl

— BitKE (@BitcoinKE) December 23, 2024

The Commission strongly advises the Nigerian public to:

Avoid participating in the ongoing presale of Punisher Coin;

Verify the registration status of any crypto promoter or project using the SEC’s dedicated portal;

Be skeptical of meme coins and tokens that rely purely on social media promotion without clear, verifiable value propositions.

Meme coins like Dogecoin, Shiba Inu, and now $PUN have captured the imagination of young, tech-savvy investors worldwide, offering dreams of instant wealth through viral trends. However, the lack of fundamentals behind many of these assets makes them easy tools for manipulation and fraud – especially in emerging markets like Nigeria, where financial literacy gaps and limited enforcement capacity persist.

A Legendary Trader Turned $8,000 into $5.7 Billion with Shiba Inu – The Blueprint for MemeCoin Investing

When an investor quietly bought $8,000 worth of Shiba Inu in August 2020, no one noticed. Fast-forward 14 months, and . . .https://t.co/ubDLRuqNHJ @ShibainuCoin @ShibArmy pic.twitter.com/p8511ZHbVn

— BitKE (@BitcoinKE) May 20, 2025

The SEC Nigeria’s firm stance is part of a broader effort to build a safer, more transparent capital market, as Nigeria grapples with balancing fintech innovation and consumer protection.

With an estimated over 33 million crypto users as of 2024, Nigeria remains one of the largest crypto markets globally – but one where regulation is still evolving.

The SEC’s approach suggests a clear red line: unregistered projects promoting speculative assets will not be tolerated.

REGULATION | ‘We Will Not Allow Unlicensed Crypto Businesses to Operate Within Our Space,’ Warns SEC Nigeria

The announcement follows the recent move on August 29 2024 by the SEC to grant two digital asset exchanges ‘Approval-in-Principle’ to begin operations under the… pic.twitter.com/bUJQbfYqv2

— BitKE (@BitcoinKE) September 12, 2024

 

 

Stay tuned to BitKE for deeper insights into the Nigerian crypto space.

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_________________________________________