BitcoinKE

At a pivotal Financial Investigations & Asset Recovery Workshop held at the Kenya School of Government, DCI’s Director of Investigations, Mr. Komesha, reiterated the Directorate’s unwavering commitment to pursuing financial crime – covering money laundering, terrorism financing, and organized litigation – via robust parallel investigations.

 

“Proceeds of crime are no longer hidden under mattresses; they are laundered through complex corporate structures, layered across global bank accounts, and concealed within real estate or cryptocurrency. As the landscape of criminality transforms, so too must our response.” – Mr. Komesha, DCI

 

This aligns with DCI’s “Follow the Money” policy and the sharpening of its Financial Investigations Unit, reflecting a strategic pivot to track illicit flows across multiple asset types – and crypto is now central to their radar.

STRENGTHENING THE FIGHT AGAINST FINANCIAL CRIME

The Director Investigations Bureau at DCI Headquarters has reaffirmed the DCI’s commitment to investigating money laundering, terrorism financing, and major predicate offences, including organised crime, through institutionalised… pic.twitter.com/6Zl4ZtA1s6

— DCI KENYA (@DCI_Kenya) June 11, 2025

Recent Crypto Crime Trends in Kenya

Kenya’s experience with crypto-enabled crimes is both significant and escalating:

In March 2025, Nairobi detectives seized two fraudsters who duped a Chinese national of KES 6.5 million (~USD 50,500) through a cryptocurrency scam

[TECH] REGULATION | Kenyan Detectives, the DCI, Nab Thieves Masquerading as Cryptocurrency Exchange Experts: Detectives in Nairobi have apprehended two fraudsters who swindled a Chinese national out of KES 6.. https://t.co/Eg1kmb7ifp via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) March 2, 2025

In February 2025, DCI’s own X/Facebook accounts were hijacked to promote a scam “$DCI” token – prompting official cybercrime alerts

LATEST | Hackers Attack the Kenya Directorate of Criminal Investigation (DCI Kenya) X and Facebook Accounts Promoting the $DCI Token

The hackers said the token was listed on major exchanges, notably @binance and @pumpdotfun https://t.co/K2dlNGS1c2 @DCI_Kenya

— BitKE (@BitcoinKE) February 10, 2025

Estimates show Kenyans lost over  $120 million to crypto and forex scams in just one year

SCAM ALERT | Kenyans Count Losses on CBEX Crypto and Forex Trading Platform

“Today morning, I woke up with like $6,000 (KES 777,680) in my crypto wallet. But at around 7 PM, it had been cleared to zero.”https://t.co/h1ZWFjfKZa @KeTreasury @CMAKenya @CBKKenya @DCI_Kenya pic.twitter.com/0h7jq8cRXg

— BitKE (@BitcoinKE) April 16, 2025

Meanwhile, large-scale P2P trading remains prevalent, placing Kenya 21st globally in Chainalysis’ adoption index and 3rd in P2P volume

17 Out of the Top 20 Markets in Global Crypto Adoption are in Emerging Markets – Kenya Tops in Africa – Says Latest 2021 Chainalysis Index: https://t.co/Rd6WTYDuXC

— BitKE (@BitcoinKE) August 21, 2021

These trends underscore why regulatory bodies and financial crime agencies are sounding the alarm—and why the workshop’s timing couldn’t be more critical.

 

Regulatory & Enforcement Landscape

BitKE has previously covered key developments shaping Kenya’s regulatory response:

In June 2025, the EU designated Kenya as a high-risk AML/CTF jurisdiction due in part to shortcomings in prosecuting money laundering and crypto-related offenses.

REGULATION | European Commission (EU) Officially Lists Kenya as High-Risk Country for Money (ML) Laundering and Terrorism Financing (TF)

Kenya now joins a list of 9 other countries globally on the @EU_Commission watchlist for ML and TF.https://t.co/VEgzJZyXDM @FATFNews #EU pic.twitter.com/A0pCZGQld3

— BitKE (@BitcoinKE) June 14, 2025

The IMF-backed Technical Assistance Report (Jan 2025) notes that the DCI issued a public alert in February 2024 warning against crypto-platform fraud – which spurred national efforts to finalize crypto regulations by April 2025

[TECH] REPORT | IMF Advises the Capital Markets Authority of Kenya to Create Predictable Regulatory Framework for the Crypto market: The International Monetary Fund (IMF) has recommended that Kenya establish.. https://t.co/a97RZFJX0s via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) January 10, 2025

In May 2025, the Kenya High Court ruled Worldcoin’s biometric data collection illegal, a landmark decision reinforcing the risks tied to overlapping crypto and data privacy breaches

REGULATION | Kenya High Court Declares @worldcoin Operations Illegal, Orders Deletion of Biometric Data

Justice Aburili emphasized that Worldcoin’s operations infringed on Kenyans’ constitutional right to privacy.https://t.co/AHnH6TtksO #Worldcoin #DataPrivacy pic.twitter.com/8CLZBLuEpm

— BitKE (@BitcoinKE) May 6, 2025

These points highlight a policy landscape rapidly evolving – driven as much by international peer pressure (EU/FATF greylisting) as by domestic enforcement and landmark court rulings.

REGULATION | Kenya and Namibia Latest African Countries Added to Financial Action Task Force (FATF) Grey List

According to FATF, Kenya primarily faces risks associated with flows of money connected to terrorism financing from both domestic and international sources,… pic.twitter.com/zsHXN1vCCC

— BitKE (@BitcoinKE) February 26, 2024

Collaboration: The Key to Success

The workshop brought together top anti-crime institutions, notably:

Ethics & Anti-Corruption Commission (EACC)

UNODC African Anti-Corruption Hub

EU/UNODC PLEAD II Programme

Global Programme on Money Laundering (GPML)

National Integrity Academy

Facilitating knowledge exchange and joint operational strategies, these partnerships are vital to mounting a united front.

 

Bottom Line

Kenya’s anti-money laundering and financial crime apparatus is undergoing a much-needed overhaul:

Stronger enforcement: DCI is actively pursuing crypto-enabled fraud with new methods.

Regulatory clarity: Guidance from IMF, CMA, CBK & Treasury aims for enforceable VASP frameworks.

Capacity building: Cross-institutional workshops are developing skills to match evolving crypto threats.

International alignment: EU/FATF attention is speeding Kenya’s march toward global AML/CTF standards.

As crypto adoption deepens across Africa, Kenya’s efforts to regulate, investigate, and prosecute crypto-linked crime will be critical in balancing innovation with security.

 

 

 

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The European Commission – the executive branch of the European Union (EU) – has officially designated Kenya as a high-risk jurisdiction for money laundering and terrorism financing.

In an official announcement, the Commission advised EU member states such as France, Germany, Spain, the Netherlands, Finland, and Denmark to apply heightened scrutiny to financial dealings involving Kenya.

Kenya joins a group of countries recently added to the EU’s updated list of jurisdictions with strategic deficiencies in their anti-money laundering (AML) and counter-terrorism financing (CTF) frameworks.

Other nations listed alongside Kenya include:

Algeria

Angola

Côte d’Ivoire

Laos

Lebanon

Monaco

Namibia

Nepal, and

Venezuela

At the same time, the EU removed several countries from the list, including:

Barbados

Gibraltar

Jamaica

Panama

The Philippines

Senegal

Uganda, and

The United Arab Emirates

as a result of demonstrating improvement in their financial crime defenses.

According to the 2024 report by the Financial Reporting Center (FRC), the Financial Intelligence Unit of Kenya, there was over a 30% growth in transactions related to terrorism financing and over 18% rise in suspicious  transactions related to money laundering  in 2024.

According to the FRC, cryptocurrencies can be used for money laundering, terrorism financing, proliferation financing, and cyber-crime.

REGULATION | The Kenya Financial Reporting Centre (FRC) Launches a Public Survey on Virtual Assets:

The FRC says it has teamed up with other government institutions and the private sector, including crypto industry stakeholders, to produce the survey on crypto assets in… pic.twitter.com/asHMUeXG6a

— BitKE (@BitcoinKE) August 21, 2023

The report further notes that the number of suspicious transactions reported by the capital markets and securities operators more than tripled with the suspicious transactions being solely related to money laundering.

As a result, the EU identified significant gaps in the AML and CTF frameworks.

Kenyan Regulatory Agencies Begin Work on a Comprehensive Legal Framework for Crypto

The move comes in response to a ‘recommendation’ from the Kenya Ministry of National Treasury and Economic Planning, said Central Bank of Kenya (CBK): https://t.co/ibuympJzPW

— Market News Crypto (@marketnews2022) January 2, 2023

In a statement, the European Commission noted that the revised list aligns with the latest findings from the Financial Action Task Force (FATF) – the global AML/CTF watchdog – which grey-listed Kenya in 2023 due to shortcomings such as the absence of a comprehensive strategy to prosecute money laundering cases.

“The Commission has carefully considered the concerns expressed regarding its previous proposal and conducted a thorough technical assessment, based on specific criteria and a well defined methodology, incorporating information collected through the FATF (Financial Action Task Force), bilateral dialogues and on site visits to the jurisdiction in question.

As a founding member of FATF, the Commission is closely involved in monitoring the progress of the listed jurisdictions, helping them to fully implement their respective action plans agreed with FATF.”

 

“Identifying and listing high-risk jurisdictions remains a vital instrument in protecting the EU’s financial system,” said Maria Luís Albuquerque, the EU Commissioner for Financial Services and Savings and Investments.

“This update to our list underscores our commitment to upholding international standards, particularly those established by FATF. We hope co-legislators will swiftly endorse this important measure.”

 

Inclusion on the high-risk list can have significant implications, including limited access to global financial markets and increased scrutiny from international partners.

Kenya was grey-listed in 2024 for failure to prosecute money laundering and terrorism financing cases. It was also cited for lack of regulations for cryptocurrencies, non-profits, and the absence of a robust risk-based approach toward anti-money laundering and countering terrorist financing.

REALITY CHECK | How FATF Grey Listing Affects a Country’s Financial and Economic Environment

According to a PwC report, investors consider grey-listing as a key factor when evaluating the risk of conducting business.

In this article, we take a look at the possible… pic.twitter.com/TU8PJHelXx

— BitKE (@BitcoinKE) March 3, 2024

In 2023, the United states also warned Kenya against money laundering and released a report in 2024 flagging fake land ownership documents as a key investment obstacle in Kenya for the first time.

REPORT | #Kenya Risks Losing U.S Investments Over Fraudulent Title Deeds

The Office of the United States Trade Representative (USTR) has flagged fake land ownership documents as a key investment obstacle in Kenya for the first time.https://t.co/K3OIC83Lja @USTreasury pic.twitter.com/rfhLIcJgsT

— BitKE (@BitcoinKE) April 11, 2025

To address FATF concerns, as reported by BitKE in 2024, Kenya has been urged to enhance its risk-based supervision of financial institutions, introduce a legal framework for licensing and overseeing virtual asset service providers (including crypto companies), and appoint an authority to regulate trusts and gather accurate information on beneficial ownership.

REGULATION | Kenya and Namibia Latest African Countries Added to Financial Action Task Force (FATF) Grey List

According to FATF, Kenya primarily faces risks associated with flows of money connected to terrorism financing from both domestic and international sources,… pic.twitter.com/zsHXN1vCCC

— BitKE (@BitcoinKE) February 26, 2024

According to the Director Investigations Bureau at Directorate of Criminal Investigations (DCI), Abdalla Komesha, speaking at Financial Investigations and Asset Recovery Workshop at the Kenya School of Government, reaffirmed the directorate’s commitment to investigating money laundering, terrorism financing, major predicate offenses, including organized crime:

“Proceeds of crime are no longer hidden under mattresses, they are laundered through complex corporate structures, layered across global bank accounts, concelead within real estate or cryptocurrency. As the landscape of criminality transforms, so too must our response.”

Is Kenya Becoming a Crime Scene for #Web3 Funding in Africa?

There has been growing distrust and misuse of this readily available funding and quiet protest has started to emerge as a result of such practices.https://t.co/1HhxoFCMv5

— BitKE (@BitcoinKE) October 16, 2022

Additional reforms recommended by the FATF include:

Improving the quality and application of financial intelligence

Expanding investigations into money laundering and terrorism financing, and

Revising regulations governing non-profit organizations.

 

 

 

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The Bank of Ghana (BoG) has issued a warning to the public regarding YellowPay, a digital payment platform operated by Yellow Card Financial Inc., which it says is not licensed or approved by the central bank.

 

On June 10 2025, the Bank of Ghana (BoG) issued a stern notice:

“Caution on Unlicensed Digital Platforms.”

It called out YellowPay  –  a stablecoin-powered payment offering promoted by Yellow Card Financial Inc.  –  as an unauthorized operation in Ghana’s digital finance ecosystem.

The notice also threw shade at another unfamiliar character on the scene: HanyPay, an outfit purportedly linked to the mysterious “Africa Diaspora Central Bank” (ADCB), promoting a stablecoin known as AKL Lumi.

 

According to the BoG, the company is actively marketing itself as a provider of digital payment services, cryptocurrency trading, and cross-border remittance solutions – activities that require regulatory approval.

“This Notice serves to inform the public, financial institutions, and all relevant stakeholders to desist from engaging with Yellow Card Financial Inc. and HanyPay Ghana, on the basis that their activities are not approved by the Bank of Ghana,” the central bank said in a statement.

YellowPay claims to allow users to:

send and receive payments

Conduct electronic money transfers

Transact with stablecoins across borders, and

Convert stablecoins into local currency

all of which fall under regulated financial services that require proper licensing.

BoG further disclosed that YellowPay is in partnership with HanyPay, a company that claims to operate under the authority of the Africa Diaspora Central Bank (ADCB).

The central bank stated it neither authorizes these entities nor recognizes ADCB’s operations in Ghana. Yellow Card subsequently denied any partnership with HanyPay, despite HanyPay’s February 2025 claims of collaboration.

 

The central bank said the partnership appears aimed at developing and integrating a new stablecoin – the AKL Lumi – into the global financial system.

“This development raises significant regulatory concerns, as HanyPay is neither licensed nor authorized to operate within the jurisdiction of Ghana. In addition, the Bank of Ghana does not recognize ADCB as a central bank,” the statement added.

 

Yellow Card, a crypto and stablecoin on and offramp solution, operates in multiple African countries including:

Kenya

South Africa

Rwanda

Tanzania

Uganda

Benin

Burkina Faso

Cote d’Ivoire

Mali

Nigeria

Senegal

Togo

Cameroon

DRC

Gabon

The Congo

Botswana

Malawi

Zambia

 

Yellow Card is one of the largest stablecoin on/offramp platforms in Africa. The company closed $33 million in 2024 in a Series C funding bringing the total funding raised by the company to over $80 million.

FUNDING | Leading African Stablecoin On/Off Ramp, Yellow Card, Closes $33M Series C Funding

The round, led by Blockchain Capital, brings Yellow Card to $85 million in completed equity financings up to date.https://t.co/1DQTruhGyO @yellowcard_app pic.twitter.com/1OBP0En3YV

— BitKE (@BitcoinKE) October 17, 2024

It counts heavyweight investors like Coinbase and Block (formerly Square) on its cap table.

REGULATION | Jack Dorsey’s Block Inc. Hit with $40 Million Fine for Inadequate Oversight of #Bitcoin Transactions

Here is a list of @blocks investments and exposure across Africahttps://t.co/Wyp3qJI6rO pic.twitter.com/s54SQU8nsB

— BitKE (@BitcoinKE) April 11, 2025

The company has transacted over $6 billion across Africa since its launch in 2019.

 

The regulatory tension between Yellow Card and Bank of Ghana underscores the dilemma where crypto platforms, with consumer protection risks, are allowed to operate with a lack of clear disclosures as regards their operations.

 

 

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Global e-commerce leader, Shopify, has begun rolling out early access to stablecoin payments using Circle’s $USDC in partnership with major U.S. crypto exchange, Coinbase.

According to an announcement made, Shopify plans to fully integrate USDC payments later this year through its payment stack, Shopify Payments and Shop Pay. The feature will run on Coinbase’s Ethereum layer-2 network, Base.

 

As part of this early rollout, a select number of merchants have access to the full product starting in June 2025, according to a Shopify spokesperson.

 

“We believe stablecoins are a natural fit for internet transactions,” Shopify CEO, Tobi Lutke posted on X.

“We worked with Coinbase to build the commerce payment protocol smart contract that powers this launch.”

Shopify will enable USDC (Stablecoins on @Base) in Checkout via Shopify Payments and Shop Pay. Early access starts today, roll out throughout the year.

We think that stablecoins are a natural way to transact on the Internet and worked with coinbase to develop the commerce… pic.twitter.com/o6jme8kSha

— tobi lutke (@tobi) June 12, 2025

The USDC integration will also support incentives like 1% cashback in local currency payouts in future updates, Lutke added.

 

The Shopify spokesperson emphasized that this is both a technical rollout and a strategic collaboration with the Base team.

“To pay with USDC, buyers will need a crypto wallet,” the spokesperson noted. “They can choose from hundreds of supported wallets.”

 

Why Shopify Chose Base

Coinbase’s Base blockchain currently ranks as the fourth-largest network for USDC, with Base-issued USDC representing about 6% of the stablecoin’s total circulating supply of $61 billion, based on data from USDC Transparency and CoinGecko.

Built by Coinbase, Base is promoted as an “ultra-fast and affordable network” that is well-suited for global money movement, according to Shopify. The company cited Base’s fast, cheap, and secure transactions, as well as its 24/7 availability, as key benefits.

 

While Shopify has not confirmed whether it will support other USDC chains or additional crypto assets, the exclusive support for Base led some users on X to question the decision.

“Why limit the top of your funnel? You should support all chains that Stripe via USDC supports,” one commenter wrote.

 

Shopify’s Crypto Journey

This isn’t Shopify’s first step into crypto. The company has supported Bitcoin payments via third-party gateway integrations since 2013. At the time, it announced that all 75,000 merchants on its platform could begin accepting Bitcoin.

According to Shopify’s Help Center, merchants today can integrate with at least nine different crypto payment providers, including BitPay, Solana Pay, and others, allowing acceptance of a broad range of digital assets.

 

Still, Shopify notes that crypto payments may be slower during high-demand sales:

“Due to longer settlement times, cryptocurrency transactions can lead to overselling during flash sales. For best performance, use direct methods like Shopify Payments,” the help article advises.

 

Shopify and Coinbase have collaborated before. Both companies were part of Meta’s now-defunct stablecoin initiative, Diem (originally Libra), during 2019 and 2020. The project faced regulatory hurdles and was officially shut down in 2022.

 

 

 

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By BitKE Editorial 

 

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) is the most comprehensive stablecoin legislation ever introduced in the United States. Passed in a landmark Senate vote and now headed for full legislative debate, the bill aims to establish a legal framework for “payment stablecoins” — dollar-pegged digital assets designed for real-world commerce, settlements, and remittances.

Key provisions include:

1:1 Reserves: All stablecoins must be fully backed by U.S. cash or short-term Treasury securities.

Transparency: Monthly disclosures and annual audits (mandatory for issuers holding over $50 billion).

Two-Tier Licensing: Federal oversight (via the Fed and OCC) for large issuers, and state-level regulation for smaller or emerging players.

No Algo-Stables: Algorithmic or unbacked stablecoins are outright banned.

AML Compliance: Issuers must follow existing anti-money laundering and counter-terrorism laws.

Consumer Protections: Clear marketing rules and bankruptcy preferences for stablecoin holders.

 

What Does the GENIUS Act Say?

The draft legislation from the Senate includes several significant provisions. The current version of the GENIUS Act – likely its final form – features a clause targeting large publicly listed non-financial firms, which would include companies like Amazon and Walmart.

To be authorized to issue a stablecoin, a company must first be approved by a committee composed of the Chairs of the Federal Reserve and the FDIC, along with the Secretary of the Treasury. This committee must determine that the issuer does not pose a material risk to financial stability. Additionally, the company must commit to not using payments data for unrelated purposes, such as targeted advertising or selling it to third parties. The issuer is also prohibited from engaging in “tying” – leveraging dominance in one area of business to compel the use of another product or service, such as its own stablecoin.

This clause in the GENIUS Act was recently broadened to include large publicly traded firms headquartered outside the U.S. Furthermore, the committee is required to issue rules clarifying how this provision will be implemented within one year of the Act becoming law.

Traditionally, banking regulations have blocked non-financial companies from owning banks due to potential conflicts of interest. Some argue that this concern is less relevant in the case of stablecoins, which do not involve credit issuance. Earlier versions of House legislation had imposed ownership limits (such as a 24.9% cap), but the current House STABLE Act draft does not include those restrictions.

Opposition to corporate-issued stablecoins is not limited to Democrats. For instance, Republican Senator Josh Hawley has proposed an amendment to the GENIUS Act that would prevent social media platforms, search engines, communication services, and e-commerce marketplaces with over 25 million users from issuing a stablecoin. This could restrict Amazon but may not apply to Walmart, as it operates primarily as a retailer rather than a digital marketplace.

Facebook Finally Launches the Libra Global Cryptocurrency

via @BitcoinKE https://t.co/dtbQh8e9qR

— Africa Blockchain Alliance (@AfriBlockchain) June 18, 2019

Why It Matters: A New Era for Stablecoins

The stablecoin sector has ballooned into a $160+ billion market globally – but in the U.S., regulatory uncertainty has kept both traditional finance and Big Tech at bay.

 

The GENIUS Act changes that.

“This bill gives legal legitimacy to stablecoins, which are fast becoming the rails of modern finance,” says a D.C. fintech policy analyst. “It’s like the Bitcoin ETF moment, but for stable payments.”

 

By introducing guardrails and clarity, the bill is expected to:

Accelerate institutional adoption

Invite tech giants and legacy payment firms

Bring stablecoins closer to global regulatory parity

STABLECOINS | A $2 Trillion #Stablecoin Market is Imminent, Says U.S Treasury Secretary

“This administration is committed to keeping the reserve currency status and enhancing that,” @SecScottBessent said.https://t.co/R50Id4q9QG pic.twitter.com/y1BnEvLcjU

— BitKE (@BitcoinKE) June 12, 2025

Who Might Enter the Market?

With clear legal pathways and compliance rules, the door is now open for a diverse range of stablecoin issuers:

Big Tech – Reports suggest Amazon, Walmart, Meta, and even Expedia are exploring branded stablecoins for payments, loyalty programs, and marketplace efficiency. Think: AmazonCoin or MetaDollar.

Traditional Banks – Banks like JPMorgan (JPM Coin) and Bank of America may launch digital settlement tokens for interbank use and corporate clients.

Card Networks & Fintechs – Players like VISA and Mastercard could create blockchain-native rails for cross-border transactions. Meanwhile, PayPal’s PYUSD, already crossing $1 billion in circulation, would likely thrive under the new regime.

Remittance & Payroll Innovators – Startups serving freelancers and remote workers (e.g., Deel, Bitwage) could adopt stablecoins to power global salary payments, reducing costs and settlement times.

STABLECOINS | Visa Doubles Down on Cross-Border Settlements Using USDC Stablecoin on Solana

“By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option… pic.twitter.com/ET24hu9Ka1

— BitKE (@BitcoinKE) September 7, 2023

Who Gets Left Out?

Not all players are cheering.

Banks worry that tech firms will bypass traditional rails.

Consumer advocates fear stablecoins could blur the line between commerce and finance.

Smaller crypto projects may struggle with the compliance burden, especially audit and AML obligations.

Senator Elizabeth Warren has already proposed amendments to exclude Big Tech from becoming financial entities through stablecoin issuance.

The GENIUS Act is more than a policy document – it’s a gateway. If enacted, it could reshape how money moves online, empower new players, and force traditional financial systems to evolve or risk obsolescence.

 

And with Africa rapidly embracing stablecoins as cross-border tools, the global ripple effects of U.S. regulation will be felt far beyond Washington.

As U.S.-regulated stablecoins become safer and more interoperable, African fintechs, wallets, and cross-border platforms could benefit from:

Lower risk of deplatforming

Interoperable rails with global banks

Greater user trust and merchant adoption

STABLECOINS | @stripe‘s Stablecoin Play Skips Africa’s Biggest Fintech Hubs – Here’s Why That Matters

Innovation alone isn’t enough – without strong, stable regulations, even top markets can be left on the sidelines.https://t.co/t1Zxy0jntu #Stablecoins pic.twitter.com/mfqLHvG4I8

— BitKE (@BitcoinKE) May 12, 2025

 

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This is an Op-Ed by Ray Youssef, CEO, NoOnes

 

The first crypto billionaires gave our industry a marketing boost, but all that hype did us a disservice. Most people don’t get rich buying crypto just like most people who went gold prospecting or drilling for oil didn’t get rich. In every gold rush, the people who made the most money sold the picks and shovels – they didn’t use them to dig for gold.

Howard Hughes, one of the world’s first billionaires, made most of his money in oil, but his oil money came from selling drill-bits to oil prospectors who wanted to get rich quickly. The best traders in crypto have the Howard Hughes mindset because only a very small percentage of crypto traders got rich waiting for it to go to the moon – even those who bought Bitcoin at $1.

There’s a better way to earn money from crypto and the best traders understand how it works.

They look for problems and they find solutions.

 

For years I’ve been an advocate for crypto as an efficient, inexpensive tool little guys can use to make financial transactions. But all those people using crypto to send money home, make a purchase, or buy a gift card need someone to help them transact – and that’s where the traders come in. They provide the liquidity that makes it possible for the little guys to transact. More and more savvy crypto traders are turning trading into their own business – they are the tech version of the tin sheds that sold picks and shovels to prospectors 150 years ago. And some of those tin sheds are turning into department stores, just like they did during the goldrushes.

 

About a decade ago, a young Asian student called Martin wanted to buy a Steam gift card. He bought some discounted gift cards online, but soon realized the guys selling to him were making big profits – he found a problem.

Martin knew the guy selling the gift cards was buying them at a cheaper price from someone else, so he went to work. He was soon buying cheaper Steam gift cards, and then he began to sell them to other people looking for a better deal. It didn’t take him long to work-out he could do the same with crypto, and boom! – he was a trader. When Martin finished university, he got a job working for the government, but he kept trading. Like most serious traders, Martin quit his job when he realized he could make more money and have a better lifestyle if he spent more time trading. His problem – expensive gift cards – led to a solution that allowed him to scale his trading into a new lifestyle.

 

The Remote Worker Boom

The tech economy has opened-up a lot of opportunities for people to be their own boss and create a work schedule to suit their lifestyle. A few years ago, people would laugh if you told them they could earn an income posting pictures of themselves or uploading videos to social media. Peer-to-peer (P2P) businesses like e-Bay, Airbnb, and Uber have created so many opportunities for people to earn an income and be their own boss. The percentage of remote workers jumped during COVID-19, but it had already been increasing, and it remains more than double the level it was in 2019. By 2030, remote digital jobs worldwide are expected to increase by 25.

In the last five years alone, the gig economy in Kenya has increased by 216%.

STATISTICS | Kenya Leads in Gig Economy in Africa with 216% Growth in Online Freelancers in 5 Years – https://t.co/XJxhIy4nvo

— Ọlá (@samcenaexe) April 14, 2025

Despite the up-tick in online workers, people have been slow to grasp the opportunities created by P2P crypto, and maybe that’s because the mainstream media focus on the crypto billionaires, scams and privacy hacks, so average people don’t see crypto for what it is at a fundamental level – a problem solver.

Its utility as a problem-solver is the reason more people in the Global South adopt P2P crypto. The Global South deals with financial transaction problems every day, so they are more likely to search for solutions. On our platform, you can trade with people in 60 countries and use over 500 payment methods. You can make a payment, buy or sell a gift card, remit money, top-up your phone, use a virtual VISA card, and more – and it’s all powered by P2P crypto. Traders just piggy-back off the platform, and their ability to save people time or money and solve problems means they can make money, create businesses, and change their lives.

MILESTONE | NoOnes, a P2P Crypto Trading App for Africa and Emerging Markets, Surpasses 2 Million Users Globally

Unlike other platforms with extensive KYC procedures, NoOnes enables users to trade crypto without ID verificationhttps://t.co/M4GerbuEBm @noonesapp @ray_noOnes pic.twitter.com/CnwbEPLen2

— BitKE (@BitcoinKE) January 29, 2025

Julian, an African student, says he wasn’t just broke, he was “stuck,” until he started trading gift cards. He says crypto changed his life because it gave him “real freedom.”

Sheyi Dario is so savvy he teaches other Africans how to trade and has tens of thousands of YouTube followers learning how to make money because crypto trade routes are simply solutions to problems people have making financial transactions. Traders don’t make much on each transaction, but they do it so often they make a living out of it. How much money does Amazon or Alibaba make on a $10 sale? Not much, but it all adds up when you do it at scale, and our traders have the same mindset. They won’t earn a lot of money making a few transactions every week, but if they make a lot of transactions every day they change the game. This year, the worldwide gift card market will be $1.4 trillion. The revenue for Walmart and Amazon is about half that. By 2034, the gift card market will be almost $4 trillion.

 

“Entrepreneurship is mostly solving a problem and scaling the solution.”

 

P2P Crypto is an eco-system of people looking for solutions to their problems, and some of them take the extra step and help others find the same solutions. I’ve always known entrepreneurship is mostly solving a problem and scaling the solution, so people who want to be their own boss, to become a trader, just have to find a solution to a problem. If you live in a country that makes it hard for people to make financial transactions, find a solution to help the people affected. They will pay you to make their life easier.

[WATCH] We Will Be Incubating Teams Solving Problems in Africa – A Chat with CEO, Paxful: https://t.co/INyvoXkNzi @raypaxful @paxful #PAXFUL

— BitKE (@BitcoinKE) August 31, 2021

I’ve never said trading is easy, but I do say that you don’t need any special skills. You must work for your money, and if you don’t work you won’t make much money – but that’s on you. One of the greatest things Uber did for the world was to make it easy for people to become their own boss without the need for special skills or a great idea – most people can drive a car, use a mobile phone, and navigate Google Maps. The problem is that it’s hard to scale an Uber business. To trade crypto, you need less skills than you need to be an Uber driver because you only need Internet access and a great trading app. And P2P crypto is so much easier to scale than an Uber business. I know – I’ve done it twice.

‘Peer-to-Peer Crypto Trading is Probably Like a Half a Trillion Dollar Business in Nigeria Alone,’ Says Noones CEO and Founder

According to Youssef, who has founded two P2P crypto platforms operating in Nigeria, #Noones and #Paxful, most of the P2P transactions do not happen… pic.twitter.com/84ehGAs3z3

— BitKE (@BitcoinKE) May 6, 2024

There probably aren’t many Uber drivers making U.S $10K a month, but there are lots of savvy crypto traders making more than that – and they aren’t making it because crypto went to the moon. Lots of people call crypto a revolution, but we should do more to advocate for crypto as a problem-solver. Crypto is not about the billionaires or the scammers and hackers. Every industry has billionaires, scammers, and hackers.

 

The fruits of our revolution will become apparent when more people understand the opportunities P2P crypto creates. When that happens, the world will never be the same.

OPINION VIEW | The Pan-African Trade Revolution Might Have Just Started in Kenya

“For years, I’ve been advocating an end to financial apartheid in Africa because when you say ‘your money’s no good’ or ‘we won’t trade with you,’ the end result is a failed economy and chaos… pic.twitter.com/sFNtZUqgxn

— BitKE (@BitcoinKE) July 15, 2024

Ray Youssef

CEO, NoOnes

 

 

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In a major nod to Africa’s rising crypto innovation scene, Circle has awarded grants to five African blockchain projects in the fourth cohort of its USDC Developer Grants Program. The announcement marks the region’s best performance yet in the program, which has now funded over 60 teams globally since launching in 2023.

Amid a global slowdown in venture funding – especially following the FTX collapse – ecosystem grants like Circle’s are becoming lifelines for early-stage builders. For African founders, where venture capital investment into crypto dropped by over 70% in the first half of 2024, these grants are proving vital for survival and growth.

 

____________

TL;DR

Circle awarded five African startups in its latest USDC Developer Grant round—Africa’s best showing yet.

Each project receives up to $100,000 in USDC, along with technical and go-to-market support.

Africa’s growing reliance on stablecoins and real-world crypto use cases is fueling this momentum.

With VC drying up post-FTX, ecosystem grants are now key early-stage lifelines for African Web3 builders.

Circle and Tether continue to battle for stablecoin dominance, each with distinct strategies across the continent.

____________

 

What Circle Is Offering

The USDC Developer Grants offer funding between $5,000 and $100,000, paid in $USDC, for teams building real-world blockchain applications using Circle’s developer stack.

This includes:

Programmable Wallets

Smart Contract APIs

Cross-Chain Transfer Protocol (CCTP)

On/off-ramp services via the Circle Payments Network (CPN)

 

In addition to funding, grantees receive product and compliance support, technical mentorship, co-marketing, and potential referrals to Circle Ventures.

“The applicants’ creativity and ambition pushed us to dig deeper and ultimately select the projects we believe will move the industry forward,” Circle said in its announcement.

 

Meet the African Grantees

The five African projects selected in Cohort 4 are:

Flipeet Raise

LINK

Scalex

SFx

Katika

This cohort represents a step-change for African participation. Only one African startup was selected in the second round, rising to three in Cohort 3, and now five in the fourth.

We are excited to announce that Flipeet Raise is now part of @circle Grant Program, Cohort 1. Our mission is to help amazing startups raise money from anywhere in the world using USDC. We will be launching beta for a select few of startups in the coming weeks LFG! pic.twitter.com/CMZoBSxxUO

— Flipeet Raise (@FlipeetRaise) June 11, 2025

This surge aligns with broader trends in the region, where USDC adoption is accelerating across use cases – from remittances and savings to B2B cross-border trade.

As VC interest in crypto cooled globally, stablecoins have become the most adopted crypto asset across many African markets. Platforms like Onafriq, and Flutterwave – all partnered with Circle’s infrastructure – now process billions in cross-border and intra-Africa payments using stablecoins as settlement tools.

$USDC and $USDT dominate stablecoin flows in Nigeria, Kenya, Ghana, and South Africa. Circle, however, is pushing harder into developer ecosystems – building out infrastructure and tooling to create long-term Web3 rails.

LIST | Here Are Popular African Fintechs You Did Not Know Are Leveraging #Stablecoins

A lot of these fintechs have obfuscated their stablecoin offerings making it quite difficult to know if they’re leveraging stablecoins to achieve this.

See list below:https://t.co/AsdaNxw8AS pic.twitter.com/anf9k3TlV2

— BitKE (@BitcoinKE) May 22, 2025

In contrast, Tether has taken a grassroots approach:

Funding education campaigns

Sponsoring conferences, and

Making equity investments in African startups like Sorted Wallet, MANSA, and Shiga.

FUNDING | @Tether_to Expands in #Africa with Investment in @ShigaDigital Targeting FX and Treasury

The Shiga Digital partnership is expected to serve legacy sectors such as oil and gas – industries with considerable FX exposure and treasury needs.https://t.co/Fp0qUHNN6G $USDT pic.twitter.com/q84J44tu1t

— BitKE (@BitcoinKE) June 10, 2025

Tether’s model seems to be working much better compared to Circle’s approach in Africa with little traction for $USDC compared to the massive growth of $USDT.

[TECH] STABLECOINS | ‘We Have 400 Million Users in Emerging Markets – We’re Basically Pushing Dollar Hegemony, Selling U.S Debt Outside the U.S,’ Says Tether CEO: Tether is currently the 17th largest.. https://t.co/B9NgyF7CeK via @BitcoinKE

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

Circle’s initiative is part of a broader shift in how crypto startups raise capital. With traditional VCs pulling back, ecosystem grants have become the new seed round, especially in markets like Africa.

These grants not only offer a financial runway but also grant credibility – opening doors to deeper integrations, product adoption, and eventual Series A funding.

And with Circle’s push into compliant, regulated stablecoin use – evidenced by its approval in Japan and its expanding presence in global financial infrastructure – African grantees are well-positioned to build products that scale across regions.

 

 

 

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As Africa’s fintech ecosystem matures, the next major growth frontier may not lie in peer-to-peer mobile transactions – but in the vast, under-automated world of business-to-business (B2B) payments. A recent report by MasterCard highlights that Africa’s digital payments market could reach $1.5 trillion by 2030, with B2B payments forming the bulk of that opportunity.

While mobile money continues to dominate headlines and daily life across the continent, particularly in East Africa, business payment systems are still catching up. They represent a significant opportunity for startups, banks, and infrastructure providers looking to drive financial inclusion and unlock value for micro, small, and medium-sized enterprises (MSMEs).

[TECH] FINTECH AFRICA | Nigerian B2B Fintech, Waza, Launches Multi-Currency Account Platform to Support Businesses in Emerging Markets: Waza, a Y Combinator-backed (YC W23 Batch) B2B payments company, has la.. https://t.co/WypQcE5odY via @BitcoinKE

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

_________________

TL;DR – Why This Matters

Africa’s digital payments market is expected to hit $1.5 trillion by 2030.

B2B transactions will make up the majority of this volume.

Kenya leads in B2B payment automation, but most countries lag behind.

New rails like PAPSS are reducing the cost and friction of cross-border B2B payments.

Fintechs that serve MSMEs with payment + financial tools are best positioned for growth.

_________________

 

B2B Payments: The Overlooked Giant

African fintech innovation has long focused on retail financial services, particularly mobile wallets and peer-to-peer (P2P) transfers. However, B2B transactions make up more than 90% of payment flows in many economies, and they remain largely inefficient, opaque, and manual.

These include supplier payments, invoice settlements, cross-border trade, payroll, taxes, and more – many of which still rely on cash, checks, or delayed bank transfers.

In Kenya, for instance, 83.4% of businesses report having adopted either semi- or fully-automated B2B payments. This makes it one of the most advanced countries in terms of B2B digitization in Africa. But even there, challenges persist: payment delays, reconciliation issues, and fraud risks continue to hinder seamless operations.

Nigerian Fintech, Mono (@mono_hq), Partners with @Mastercard to Enable Account-to-Account Payments. Read more https://t.co/R8I6AycetP

— Africa Tech Summit – Accra 24-25th Sep (@AfricaTechSMT) April 11, 2024

Why Now? The Digital Foundations Are Set

Several macro factors are converging to accelerate the digitization of African B2B payments:

Increased mobile and internet penetration is enabling more cloud-based and mobile-first financial tools.

Rising demand from MSMEs – which contribute up to 90% of employment in many African economies – requires simple, integrated platforms to manage invoices, pay suppliers, and receive funds.

Improved digital infrastructure, including real-time payment rails and API-driven services, is allowing fintechs to build faster and more secure solutions.

Companies like Safaricom’s M-PESA, PayStack, Flutterwave, and Cellulant have already begun expanding beyond consumer wallets into B2B services such as merchant collections, payouts, and accounting integrations.

Safaricom B2B App, M-PESA for Business, Surpass Over 50K Downloads as LIPA NA M-PESA Merchants Hit 186, 000 https://t.co/zq3FjLi4Ja via @Bitcoin KE

— P2Pmoneyshop (@p2pmoneyshop) August 3, 2020

Cross-border payments remain one of the thorniest issues in B2B transactions on the continent. With over 40 currencies and multiple capital controls, intra-African trade has long suffered from slow, expensive, and USD-dependent payment flows.

Initiatives like the Pan-African Payment and Settlement System (PAPSS), launched under the African Continental Free Trade Area (AfCFTA), aim to address this. PAPSS allows real-time settlement in local currencies, reducing dependency on hard currency and enabling more frictionless B2B trade across borders.

AfCFTA | ‘PAPSS Can Save African Countries $5 Billion in Processing Costs By Eliminating Dollar Use in Cross-Border Trade,’ Says Africa’s Largest Bank

Over 80% of cross-border payments from African banks are still processed offshorehttps://t.co/Es8EfySAJs @papss_africa @AfCFTA pic.twitter.com/UEjsWzzcG7

— BitKE (@BitcoinKE) November 14, 2024

Combined with regional interoperability efforts – such as East Africa’s harmonized mobile money standards and West Africa’s GIM-UEMOA – the pieces of a more integrated African payments system are falling into place.

 

What’s Still Missing?

Despite strong momentum, the African B2B payments ecosystem still faces key gaps:

Lack of standardized platforms for invoices, reconciliation, and recurring billing

Fragmented regulatory environments that complicate compliance across markets

Low access to credit and financial tools among MSMEs

Trust issues between businesses due to fraud and unreliable payment timelines

Fintechs that can offer embedded financial services – credit, insurance, accounting – alongside payment tools are more likely to build lasting value.

The future of African payments lies not just in moving money faster – but in enabling businesses to operate more efficiently. While mobile money laid the groundwork, B2B payments will define the next chapter of fintech on the continent.

For fintechs, regulators, and investors looking to shape Africa’s digital economy, this is a $1.5 trillion opportunity hiding in plain sight.

 

 

 

 

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On June 11 2025, U.S. Treasury Secretary, Scott Bessent, declared that a $2 trillion market capitalization for U.S. dollar–pegged stablecoins is not only feasible – it’s within reach.

Speaking at the White House Crypto Summit, Bessent argued that a predictable regulatory framework would catalyze adoption, fuel broader capital inflows, and reinforce the global dominance of the U.S. dollar.

 

Explosive Growth Amid Regulatory Shifts

The stablecoin market, presently valued at roughly $247 billion as of May 2025, has surged more than 50% year-over-year.

New supply jumped by over $30 billion in Q1 2025 alone, hitting record highs even while broader crypto markets remained subdued as reported by BitKE.

MILESTONE | #Stablecoin Supply Skyrockets by $30B in Q1 2025 Reaching New All-Time Highs – #Ethereum Remains the Epicenter

Ethereum processed over $3 trillion in stablecoin transactions on its mainnet in Q1 2025 alone.https://t.co/yYw5KP11os @ethereum @Tether_to pic.twitter.com/XAkoD7rQud

— BitKE (@BitcoinKE) April 5, 2025

Ethereum remains the epicenter of stablecoin activity, processing more than $3 trillion in stablecoin transactions in just the first quarter of 2025. The number of unique stablecoin addresses on the chain surpassed 200,000 in March 2025.

 

Global Use Cases: From Trading to Everyday Payments

Originally tools for crypto-trading (still accounting for around 88% of stablecoin use), these digital dollars are now breaking into real-world payments and remittances.

In emerging markets – especially across Africa, Latin America, and South Asia – stablecoins have become a vital alternative to unstable local fiat. As documented by BitKE, they represent nearly half of crypto usage in regions like Nigeria, Ethiopia, Ghana, and South Africa – at times making up ~43% of all crypto transaction volume in sub-Saharan Africa.

REPORT | Stablecoin Transfers Account for 43% of All Crypto Transfers Across Africa, #Ethiopia is Fastest-Growing Market, Says Chainalysis

According to Chainalysis, Ethiopia has become the continent’s fastest-growing market for retail-sized stablecoin transfers, experiencing a… pic.twitter.com/pJMLHAp09T

— BitKE (@BitcoinKE) October 4, 2024

 

Institutional Adoption & Treasury Market Dynamics

Stablecoin issuers like Tether and Circle now hold over $166 billion in U.S. Treasuries – primarily short-term bills. Legislative efforts, such as the U.S. Senate’s “GENIUS Act,” would cement a requirement for these reserves to be liquid and fully backed – encouraging issuers to increase their Treasury holdings.

Analysts now forecast stablecoin growth to reach the $2 trillion mark by 2028, largely driven by regulatory clarity propelling adoption and Treasury demand. JP Morgan even suggests stablecoin issuers could rank among the top three purchasers of Treasury bills in just a few years.

While proponents envision a stablecoin-backed surge in government debt demand, analysts warn that rapid sell-offs – perhaps triggered by a confidence crisis – could depress Treasury prices and disrupt both bond and banking markets.

 

Balancing Innovation and Risk

Alongside explosive growth and real-world utility come well-known risks. Chainalysis reports that in 2024, over 60% of illicit crypto activity used stablecoins, making them a focal point for money-laundering and darknet markets.

STABLECOINS | 63% of Illicit Crypto Funds Flowed Through Stablecoins in 2024, Says @chainalysis

Since 2021, there has been a steady diversification away from $BTC, with stablecoins now occupying the majority of all illicit transaction volume (63%).https://t.co/4FDiJyCxva pic.twitter.com/Jk6M6fHQcb

— BitKE (@BitcoinKE) January 16, 2025

The largest stablecoin, Tether (USDT), remains prominent – holding more than $114 billion in circulation – but has drawn regulatory scrutiny over reserve insufficiencies, culminating in a $41 million fine.

 

The Path to $2 Trillion

Several powerful forces are converging to push stablecoins toward Bessent’s target:

Rapid supply and transactional growth – with market cap rising from ~$138  billion in early 2023 to $247  billion by mid‑2025, and volumes reaching trillions of dollars quarterly.

Institutional embrace – issuers and fintechs expanding stablecoin strategies, especially in cross-border payments, e-commerce, and treasury management.

Regulatory momentum – bills demanding full reserves, transparency, and liquidity guidance are nearing finalization in Congress.

Treasury ecosystem integration – expanding T‑bill purchases to back reserves, thereby deepening stablecoin influence on short-term interest rates.

 

Bessent’s bold statement isn’t mere rhetoric – it reflects a tangible trajectory. Stablecoins have evolved from a niche trading convenience into a robust financial infrastructure with global reach. Anchored by institutional capital, bolstered by clear regulation, and entrenched in everyday finance, they are poised to become a $2 trillion asset class.

Still, achieving that milestone demands vigilant oversight. Ensuring reserve integrity, avoiding systemic shocks, and curbing illicit use will be critical to unlocking stablecoins’ true potential.

 

 

 

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PayPal’s U.S. dollar-backed stablecoin, PYUSD, has returned to the spotlight after its market capitalization crossed the $1 billion threshold – matching its all-time high first reached in August 2024. The stablecoin’s circulating supply now sits at approximately $1.01 billion, more than doubling from a local low of $498 million at the start of 2025.

According to DeFiLlama, $PYUSD is now the 10th largest stablecoin by market cap as of June 2025.

This resurgence suggests a more sustainable trajectory for PYUSD compared to last year, when rapid growth was partly driven by incentives within the Solana decentralized finance (DeFi) ecosystem. At the time, DeFi protocols on Solana offered generous rewards for PYUSD usage, which significantly inflated demand on that chain. The frenzy briefly led to a surprising milestone: for a short period in August 2024, more $PYUSD was circulating on Solana than on Ethereum, the dominant blockchain for stablecoins.

While Ethereum remains the primary home for stablecoin assets under management (AUM) – currently holding over $125 billion – Solana trails behind with around $11 billion. PYUSD’s renewed ascent in 2025 appears less dependent on ecosystem incentives, and more on strategic growth initiatives from PayPal and its issuer, Paxos Trust Company.

Launched in August 2023, PYUSD is a fully collateralized stablecoin pegged 1:1 to the U.S. dollar. Issued by Paxos and regulated by the New York State Department of Financial Services (NYDFS), PYUSD is backed by dollar deposits, U.S. Treasury bills, and other cash equivalents. Paxos also publishes monthly attestations, offering transparency and compliance with U.S. regulatory standards.

LAUNCH | PayPal Launches Dollar-Backed Stablecoin, PayPal USD ( $PYUSD ), on the Ethereum Blockchain

As an ERC-20 token issued on the Ethereum blockchain, PayPal USD will be available to an already large and growing community of external developers, wallets and web3… pic.twitter.com/j6tE4xWSkT

— BitKE (@BitcoinKE) August 8, 2023

The stablecoin is issued on both Ethereum as an ERC‑20 token and Solana as an SPL token, giving users access to high-speed, low-cost transactions across two leading smart contract platforms. It is deeply integrated into PayPal’s platform, where users can buy, sell, hold, and transfer PYUSD seamlessly – often with zero fees for in-network transactions. The stablecoin can also be used for merchant checkout and peer-to-peer payments within PayPal’s massive user base of over 400 million.

[WATCH] ‘CheckOut With Crypto’ Service Officially Launches on PayPal: https://t.co/y0GryNNYcC @PayPal #Bitcoin #BitcoinCash #Ethereum #LiteCoin

— BitKE (@BitcoinKE) March 30, 2021

Beyond consumer use, PYUSD is making strides in business and institutional payments. In September 2024, PayPal completed its first corporate transaction using PYUSD, when Ernst & Young processed a cross-border payment through SAP’s blockchain-enabled enterprise system. This move highlighted the growing role of stablecoins in digitizing B2B payments traditionally dominated by SWIFT and legacy banking rails.

Africa’s Largest Payment Infrastructure, Flutterwave, Integrates with PayPal to Enable Merchant Payments: https://t.co/BRpFwhTCEh via @BitcoinKE @theflutterwave @PayPal @PayPalNews

— davgit (@DavGit) March 18, 2021

To encourage further adoption, PayPal began offering a 3.7% annual yield on PYUSD balances in early 2025, paid out monthly to eligible U.S. users. This yield feature positions PYUSD as a competitive stablecoin for both retail savers and DeFi participants, adding a new layer of utility beyond just payments. Meanwhile, exchanges like Coinbase have joined the push, allowing users to trade PYUSD with zero fees and enabling seamless USD redemption – putting PYUSD in direct competition with incumbents like Circle’s USDC and Tether’s USDT.

PYUSD’s return to the $1 billion milestone comes as stablecoins increasingly assert themselves as foundational products in crypto finance. The total market capitalization of all stablecoins now exceeds $238 billion, a testament to their growing use in trading, payments, and as on-chain cash equivalents.

REPORT | StableCoins Now Account for 1% of Total U.S. Dollar Supply, Transfer Volume Eclipsed VISA and MasterCard Combined in 2024

Tether’s $USDT, the world’s largest stablecoin by market cap, accounted for ~79.7% of stablecoin trading volumehttps://t.co/DRODNTKQr1 @Tether_to pic.twitter.com/CnyfdE45oE

— BitKE (@BitcoinKE) February 4, 2025

The successful IPO of Circle in 2025 further underscores the mainstreaming of stablecoins in both retail and institutional finance.

As financial giants and fintechs – from Stripe to Revolut – move deeper into stablecoin infrastructure, and regulatory clarity improves globally through frameworks like MiCA in Europe and evolving U.S. legislation, PayPal’s PYUSD stands to benefit.

Backed by strong compliance, massive distribution, and product innovation, PYUSD is positioning itself not just as a payment tool, but as a core bridge between traditional finance and the tokenized future.

FINTECH AFRICA | Why Use PayPal in the Age of Crypto? Frustrated Users Propose African Alternatives

Awidely shared post by Kenyan fintech expert, Robert Kingori, has struck a nerve with many African users who feel increasingly sidelined by @PayPal‘s new policies.

One of the… pic.twitter.com/WBOZIMLjFy

— BitKE (@BitcoinKE) March 21, 2025

 

 

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___________________________________________

___________________________________________

PayPal’s U.S. dollar-backed stablecoin, PYUSD, has returned to the spotlight after its market capitalization crossed the $1 billion threshold – matching its all-time high first reached in August 2024. The stablecoin’s circulating supply now sits at approximately $1.01 billion, more than doubling from a local low of $498 million at the start of 2025.

According to DeFiLlama, $PYUSD is now the 10th largest stablecoin by market cap as of June 2025.

This resurgence suggests a more sustainable trajectory for PYUSD compared to last year, when rapid growth was partly driven by incentives within the Solana decentralized finance (DeFi) ecosystem. At the time, DeFi protocols on Solana offered generous rewards for PYUSD usage, which significantly inflated demand on that chain. The frenzy briefly led to a surprising milestone: for a short period in August 2024, more $PYUSD was circulating on Solana than on Ethereum, the dominant blockchain for stablecoins.

While Ethereum remains the primary home for stablecoin assets under management (AUM) – currently holding over $125 billion – Solana trails behind with around $11 billion. PYUSD’s renewed ascent in 2025 appears less dependent on ecosystem incentives, and more on strategic growth initiatives from PayPal and its issuer, Paxos Trust Company.

Launched in August 2023, PYUSD is a fully collateralized stablecoin pegged 1:1 to the U.S. dollar. Issued by Paxos and regulated by the New York State Department of Financial Services (NYDFS), PYUSD is backed by dollar deposits, U.S. Treasury bills, and other cash equivalents. Paxos also publishes monthly attestations, offering transparency and compliance with U.S. regulatory standards.

LAUNCH | PayPal Launches Dollar-Backed Stablecoin, PayPal USD ( $PYUSD ), on the Ethereum Blockchain

As an ERC-20 token issued on the Ethereum blockchain, PayPal USD will be available to an already large and growing community of external developers, wallets and web3… pic.twitter.com/j6tE4xWSkT

— BitKE (@BitcoinKE) August 8, 2023

The stablecoin is issued on both Ethereum as an ERC‑20 token and Solana as an SPL token, giving users access to high-speed, low-cost transactions across two leading smart contract platforms. It is deeply integrated into PayPal’s platform, where users can buy, sell, hold, and transfer PYUSD seamlessly – often with zero fees for in-network transactions. The stablecoin can also be used for merchant checkout and peer-to-peer payments within PayPal’s massive user base of over 400 million.

[WATCH] ‘CheckOut With Crypto’ Service Officially Launches on PayPal: https://t.co/y0GryNNYcC @PayPal #Bitcoin #BitcoinCash #Ethereum #LiteCoin

— BitKE (@BitcoinKE) March 30, 2021

Beyond consumer use, PYUSD is making strides in business and institutional payments. In September 2024, PayPal completed its first corporate transaction using PYUSD, when Ernst & Young processed a cross-border payment through SAP’s blockchain-enabled enterprise system. This move highlighted the growing role of stablecoins in digitizing B2B payments traditionally dominated by SWIFT and legacy banking rails.

Africa’s Largest Payment Infrastructure, Flutterwave, Integrates with PayPal to Enable Merchant Payments: https://t.co/BRpFwhTCEh via @BitcoinKE @theflutterwave @PayPal @PayPalNews

— davgit (@DavGit) March 18, 2021

To encourage further adoption, PayPal began offering a 3.7% annual yield on PYUSD balances in early 2025, paid out monthly to eligible U.S. users. This yield feature positions PYUSD as a competitive stablecoin for both retail savers and DeFi participants, adding a new layer of utility beyond just payments. Meanwhile, exchanges like Coinbase have joined the push, allowing users to trade PYUSD with zero fees and enabling seamless USD redemption – putting PYUSD in direct competition with incumbents like Circle’s USDC and Tether’s USDT.

PYUSD’s return to the $1 billion milestone comes as stablecoins increasingly assert themselves as foundational products in crypto finance. The total market capitalization of all stablecoins now exceeds $238 billion, a testament to their growing use in trading, payments, and as on-chain cash equivalents.

REPORT | StableCoins Now Account for 1% of Total U.S. Dollar Supply, Transfer Volume Eclipsed VISA and MasterCard Combined in 2024

Tether’s $USDT, the world’s largest stablecoin by market cap, accounted for ~79.7% of stablecoin trading volumehttps://t.co/DRODNTKQr1 @Tether_to pic.twitter.com/CnyfdE45oE

— BitKE (@BitcoinKE) February 4, 2025

The successful IPO of Circle in 2025 further underscores the mainstreaming of stablecoins in both retail and institutional finance.

As financial giants and fintechs – from Stripe to Revolut – move deeper into stablecoin infrastructure, and regulatory clarity improves globally through frameworks like MiCA in Europe and evolving U.S. legislation, PayPal’s PYUSD stands to benefit.

Backed by strong compliance, massive distribution, and product innovation, PYUSD is positioning itself not just as a payment tool, but as a core bridge between traditional finance and the tokenized future.

FINTECH AFRICA | Why Use PayPal in the Age of Crypto? Frustrated Users Propose African Alternatives

Awidely shared post by Kenyan fintech expert, Robert Kingori, has struck a nerve with many African users who feel increasingly sidelined by @PayPal‘s new policies.

One of the… pic.twitter.com/WBOZIMLjFy

— BitKE (@BitcoinKE) March 21, 2025

 

 

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___________________________________________

Sixteen years after Bitcoin’s launch, crypto has moved far beyond speculative hype. Coinbase’s latest State of Crypto Q2 2025 report paints a vivid picture of how blockchain, stablecoins, and tokenized assets are reshaping business, finance, and payments – both on Wall Street and Main Street.

From Fortune 500 companies expanding on-chain strategies to small businesses doubling their crypto adoption, the report unpacks the growing role of digital assets in the real economy.

In this breakdown, we’ll explore key insights from the report – including corporate and SMB trends, the explosive rise of stablecoins, institutional momentum, and the regulatory road ahead.

___________________

TL;DR

Crypto and onchain tech are now mainstream, from Fortune 500s to SMBs

Stablecoins and RWAs are solving real financial problems—fast, cheap, programmable finance

Institutions are reallocating in favor of digital assets at historic levels

Regulation remains the single biggest unlock for U.S. innovation and leadership in web3

___________________

Onchain Is Big Business: Fortune 500 Embrace Grows Sharply

Coinbase’s State of Crypto Q2 2025 reveals that crypto adoption is no longer a fringe trend – it’s a full-fledged corporate movement.

Among Fortune 500 (F500) executives:

6 in 10 say their company is working on blockchain initiatives

47% increased onchain investment year-on-year

The average number of projects per company jumped 67%, from 5.8 to 9.7

Nearly 1 in 5 F500 firms now embed onchain tech into core strategy (up 47% YoY)

THE @COINBASE STATE OF CRYPTO Q2 2025 REPORT |

Nearly 1 in 5 of F500 executives say onchain initiatives are a key part of their company’s strategy moving forward (up 47% year on year).https://t.co/7VjZ0X8YSq pic.twitter.com/xllu1L6BIC

— BitKE (@BitcoinKE) June 12, 2025

The report shows diversification beyond finance and tech. Onchain initiatives now span auto, retail, healthcare, energy, and telecom, signaling broader utility and strategic relevance.

Top use cases include payments/settlements, supply chain management, identity, and data infrastructure.

 

Main Street Joins In: SMB Crypto Use Doubles

If big business is scaling, small businesses are sprinting. In what Coinbase calls a “triple double” year for crypto:

34% of SMBs use crypto (vs 17% in 2024)

18% use stablecoins (vs 8% in 2024)

32% have sent or received crypto payments (vs 16% in 2024)

 

And the outlook is even stronger:

84% of SMBs are interested in using crypto

82% say it can help solve at least one financial pain point

57% believe adopting crypto will save them money

 

From high payment processing fees to sluggish settlements, SMBs see crypto – especially stablecoins – as a tool to gain speed and reduce costs.

 

Stablecoins Surge Past the Big Four Banks

The numbers are staggering:

Global stablecoin supply surged 54% YoY to $247B

161 million people now hold stablecoins – more than all users of JPMorgan, Bank of America, Wells Fargo, and Citibank combined

In April 2025, USDC hit an all-time high market cap of $62 billion

Stablecoin monthly transfer volume reached $717B in April 2025

THE @COINBASE STATE OF CRYPTO Q2 2025 REPORT |

There are now over 160 million stablecoin holders globally, more than the population of the 10 largest cities in the world.https://t.co/7VjZ0X8YSq pic.twitter.com/3nxQpXcHdG

— BitKE (@BitcoinKE) June 12, 2025

Stablecoin use cases are going mainstream – cross-border payments, payroll, remittances, and inflation protection are just the start. Even major players like SWIFT, Stripe, and Apple Pay (via Mesh) are now enabling stablecoin features.

 

Circle, Tether, and other issuers now hold more U.S. Treasuries than countries like Germany.

 

Tokenization of Real-World Assets (RWAs): A 245x Growth Story

Beyond stablecoins, tokenization of real-world assets has exploded:

From $85 million in 2020 to over $21 billion in April 2025

Private credit leads with 61% of tokenized RWA market share, followed by U.S. Treasuries (30%)

 

RWA use cases include:

Tokenized treasuries for real-time yield and 24/7 liquidity

Tokenized invoices for faster, more accessible working capital

Tokenized private credit to open access to retail and global investors

With platforms like Figure, BUIDL, and BENJI leading, tokenized finance is reshaping how capital flows in a digital-first economy.

 

Institutions Go All-In: ETFs and Crypto Allocations Climb

2024 marked a record-breaking year for institutional crypto exposure:

Bitcoin ETFs saw $50B in inflows, 2x more than any ETF class in history

Ethereum ETFs gained $3.5B in net inflows within months

83% of institutional investors plan to increase crypto exposure in 2025

76% intend to invest in tokenized assets by 2026

Institutions are not just experimenting – they’re allocating, often more than 5% of AUM. Crypto is entering the portfolio mainstream.

 

Regulation: The Last Barrier Standing

While adoption is surging, regulatory uncertainty remains the top bottleneck:

9 in 10 F500 executives say the U.S. needs clear crypto rules

54% cite regulatory concerns as a blocker to onchain adoption

72% of SMBs would be more likely to adopt crypto with a clear market structure

 

At the state level, 131+ crypto bills are in motion across 38 states. But a fragmented patchwork of rules risks stifling innovation. The need for federal clarity is urgent – not just to protect consumers, but to keep U.S. crypto talent onshore.

 

The U.S. share of global crypto developers has halved since 2015, dropping to 39%.

 

 

As Coinbase puts it: “The future of money is here – it’s only just begun.”

 

 

 

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VALR, Africa’s largest cryptocurrency exchange by trade volume, and MoonPay, the global leader in crypto payments, today announced their integration to streamline fiat on-and off-ramps for users in over 180 countries.

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

KES (Kenyan Shilling)

NGN (Nigerian Naira)

IDR (Indonesian Rupiah)

TRY (Turkish Lira)

BRL (Brazilian Real), and

TWD (Taiwan Dollar),

across payment methods such as Credit and Debit Cards, Apple Pay, Google Pay, PayPal, and Venmo.

The integration strengthens VALR’s mission to expand its global footprint and provide seamless access to cryptocurrencies like Bitcoin and stablecoins.

CRYPTO EXCHANGE | ‘We are Not Satisfied Being the Largest in Africa,’ Says VALR CEO as He Plots Global Expansion

The CEO disclosed that VALR has received approval to provide crypto asset services in Poland .

Additionally, the exchange has secured initial approval from… pic.twitter.com/p4GCyq9u24

— BitKE (@BitcoinKE) May 2, 2024

With a user base exceeding 1.3 million and over 1,300 corporate and institutional clients, VALR continues to lead the development of a more inclusive global financial system.

“We are thrilled to partner with MoonPay to enhance our platform’s accessibility for users worldwide,” said Farzam Ehsani, Co-Founder and CEO of VALR.

“This integration empowers our global community with efficient access to cryptocurrencies, aligning with VALR’s vision of building a financial system that reflects the oneness of humanity.”

MILESTONE | South African Leading Crypto Exchange, VALR, Doubles User Base in 2024 Surpassing 1 Million Users

VALR has added 500,000 users to its platform in 2024 alone with 1 in 4 users coming from outside South Africahttps://t.co/kwP7kvgAbf @VALRdotcom @farzamehsani pic.twitter.com/86qI1eMQde

— BitKE (@BitcoinKE) November 14, 2024

“We believe the future of money is crypto, and our goal is to make it easy for everyone to participate in this new digital economy,” said Ivan Soto-Wright, Co-Founder and CEO at MoonPay.

“Partnering with VALR to broaden access to stablecoins and other tokens is an exciting step toward our shared mission of global crypto adoption, empowering users in Africa and beyond to hold value on-chain.” 

 

Founded in 2018 and headquartered in Johannesburg, VALR offers a comprehensive suite of crypto services, including Spot Trading, Futures, Staking, Lending, OTC Trading, VALR Pay, and a world-class API for businesses to build on and high-frequency traders. Licensed by South Africa’s FSCA, with regulatory approvals in Europe and initial approval from Dubai’s VARA, VALR has raised $55 million from investors such as Pantera Capital, Fidelity’s F-Prime, and Coinbase Ventures.

REGULATION | South African Crypto Exchange, VALR, Makes Critical Step Towards Global Expansion Following Dubai Regulatory Approval

VARA is the sole authority regulating virtual assets across Dubai’s free zones and mainland, except within the jurisdiction of Dubai… pic.twitter.com/7NtN9mRbq9

— BitKE (@BitcoinKE) October 4, 2023

MoonPay, trusted by over 30 million users, provides end-to-end solutions to simplify crypto access across 180+ countries.

 

__________

About VALR

VALR is Africa’s largest cryptocurrency exchange by trade volume, serving over 1.3 million users and 1,300 corporate clients. Founded in 2018, VALR offers products including Spot Trading, Futures, Staking, Lending, OTC Trading, VALR Pay, and a world-class API for businesses to build on and high-frequency traders. Headquartered in Johannesburg, VALR is licensed by the FSCA in South Africa, with approvals in Europe and initial approval from Dubai’s VARA. The company has raised $55 million from investors like Pantera Capital, Coinbase Ventures, and F-Prime. For more, visit valr.com.

 

About MoonPay

MoonPay creates a world where you own your digital future, giving you control of your identity, money, property, and data.

 

We are the market leader in end-to-end solutions simplifying access to the crypto economy for 30M+ verified accounts across 180+ countries, and trusted by iconic global brands to power the creation and movement of digital value. 

 

 

 

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Ethereum staking has reached a new milestone, with over 34.6 million ETH – worth nearly $90 billion – now locked in the network’s Proof-of-Stake (PoS) consensus mechanism. This represents close to 28% of the total ETH supply, signaling renewed trust in Ethereum’s long-term viability as both a decentralized platform and a yield-generating asset.

Total ETH Supply: 120.7 million Staked ETH: 34.6 million ($90B) Staking Share: ~28% of supply

 

This all-time high follows Ethereum’s successful transition from Proof-of-Work (PoW) to PoS after the 2022 Merge, and comes just a month after the Pectra upgrade, the most expansive fork since that historic shift.

“This level of staking shows extreme confidence in the Ethereum network’s durability,” said Davis Richardson, Managing Partner at Paradox Public Relations.

“Even with recent changes to the team’s senior leadership, and the rise of so-called ‘ETH killers’ like Solana, Ethereum retains the highest number of developers and users on-chain.”

$ETH Staking Hits All Time High Ahead of Merge

The amount of $ETH staked on DeFi protocols is over 13.2 million $ETH staked, which is an all time high, as investors anticipate upside from the upcoming merge.https://t.co/MsEe0CQ9Pk #Ethereum pic.twitter.com/TUaSNU9fcG

— BitKE (@BitcoinKE) August 29, 2022

According to Amir Forouzani, Co-Founder of Puffer Labs, the rapid rise in staking is largely being driven by two forces:

The proliferation of liquid staking solutions like LSTs and LRTs

A sharp uptick in institutional ETH exposure

 

These innovations allow holders to stake ETH while maintaining liquidity and even engaging in yield-boosting strategies such as leveraging or looping on DeFi protocols – something that could be particularly attractive to African DeFi users exploring low-barrier yield farming.

“At Puffer Institutional alone, several clients are preparing to restake substantial ETH positions,” said Forouzani.

“We expect the total staked amount to climb further as institutional adoption accelerates.

Yield-bearing derivatives such as liquid staking tokens (LSTs) and liquid restaking tokens (LRTs) let holders keep their ETH liquid while using it in leverage and looping strategies on lending protocols, amplifying returns.”

 

$ETH staking yields depend on the issuer but can range from 2% to around 4%.

 

 

Adding fuel to the fire, BlackRock – the world’s largest asset manager – recently made a bold move:

Sold over $560 million in Bitcoin

Acquired more than $100 million in ETH

ETH holdings now included in the firm’s iShares Ethereum Trust (ETHA)

This shift is seen as part of a growing institutional appetite for Ethereum’s yield potential – something Bitcoin doesn’t currently offer, especially with its fixed supply and lack of smart contract functionality.

 

A recent legal ruling on staking may also have provided impetus to the ecosystem for staking.

The Securities and Exchange Commission of the United States Division of Corporation Finance clarified that “Protocol Staking Activities” – including self‑staking, self‑custodial staking (delegation), and custodial staking – do not involve the offer or sale of securities under the Securities Act or Exchange Act.

This decision rests on the Howey test:

Staking is considered a non‑managerial or ministerial activity tied to network protocol rules, not a managed enterprise.

The statement also covers ancillary services like slashing protection, early withdrawal mechanisms, alternative rewards schedules, and asset pooling – these, too, are not considered securities activities.

 

Ethereum Price Outlook

As of writing: ETH Price: ~$2,700 Daily Change: +8% Monthly Change: +5%

Ethereum’s staking surge could reduce circulating supply and ease short-term sell pressure.

 

 

 

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Just two weeks after a landmark Pretoria High Court ruling found that cryptocurrencies are not subject to South Africa’s exchange control regulations, the South African Reserve Bank (SARB) has filed an appeal to overturn the decision.

The central bank says the court made an error by ruling that crypto assets are not “money” or “capital” in the context of exchange controls, effectively creating a loophole that could allow unlimited funds to be exported via cryptocurrencies.

REGULATION | South African High Court Rules Cryptocurrencies Not Subject to Capital Controls

The case originated when @StandardBankZA sued the @SAReserveBank for seizing ~$1 million from a Standard Bank account.

The central bank lost the case.https://t.co/k6ktdNRCep pic.twitter.com/2aPtq4QkiY

— BitKE (@BitcoinKE) May 26, 2025

READ: SA High Court Rules Crypto Not Subject to Capital Controls

 

______________________

 TL;DR

SARB has appealed a High Court ruling that crypto is not subject to exchange control laws.

The case originated from a dispute involving Standard Bank and Leo Cash and Carry.

SARB claims the court erred in its legal interpretation and failed to apply key regulations.

The appeal could pave the way for legal reforms explicitly targeting crypto.

______________________

 

The May 2025 ruling came in a case brought by Standard Bank against the SARB, the Minister of Finance, Nedbank, and the liquidators of Leo Cash and Carry (LCC). The dispute arose after Standard Bank attempted to recover funds it had loaned to LCC prior to its 2022 liquidation.

LCC drew the attention of SARB’s Financial Surveillance (FinSurv) department when it was found to have transferred over 4,400 BTC (worth R556 million at the time) from the South African crypto exchange, VALR, to Seychelles-based exchange, Huobi Global.

The court ruled that it would not reinterpret exchange control laws to include crypto within the definition of “capital,” effectively concluding that LCC had not violated any regulations by sending bitcoin offshore.

 

 SARB Strikes Back: Cryptocurrency Is Capital

In its June 3 2025 appeal, SARB argues that the court misinterpreted existing regulations:

Cryptocurrencies are money or foreign currency, SARB claims, and therefore fall under exchange control rules.

The central bank insists the High Court erred in not applying Regulation 22C, which permits SARB to block transactions where exchange control violations are suspected.

Despite the court acknowledging that LCC was a conduit for moving funds out of South Africa, it failed to recognize this as a breach of capital export laws.

The South African Reserve Bank to Introduce New Crypto Rules to Stop Currency Controls: https://t.co/2gJErCSML5 @SAReserveBank #CryptoSA #BitcoinKE

— BitKE (@BitcoinKE) December 2, 2019

What Was at Stake?

Standard Bank won a portion of its case, including the reversal of a R16.4 million forfeiture by FinSurv. However, it failed to recover R10 million paid by LCC to Nedbank.

SARB’s appeal not only challenges the ruling but also signals its intention to potentially amend existing regulations to explicitly classify crypto assets as “capital” or “foreign currency.”

South Africa’s Financial Regulator, FSCA, Declares Crypto Assets as a Financial Product

A crypto asset is used as an investment vehicle… and it resembles a financial product – you invest in it, you get returns from it.” – FSCAhttps://t.co/FOAe4pMmy3

— BitKE (@BitcoinKE) October 21, 2022

Industry Reaction

According to Harry Scherzer, CEO of Future Forex:

“It was relatively clear that the Reserve Bank made an error in allowing a loophole that would essentially make exchange control irrelevant. People could take out as much money as they wanted via crypto.”

 

Scherzer welcomed the speed of the appeal:

“We always expected this would be corrected. If South Africa wants comprehensive exchange control laws, crypto can’t be a backdoor for unmonitored capital flight. We’re effectively back to the status quo.”

 

 

 

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Tether, the issuer of the world’s largest stablecoin by market cap, is expanding its footprint in Africa through a strategic investment in Shiga Digital, a startup that offers blockchain-based financial solutions targeting the continent.

According to a statement, Shiga Digital provides services such as virtual accounts, over-the-counter (OTC) trading, treasury management, and foreign exchange (FX) solutions across multiple African markets.

Tether did not disclose the value of the investment.

An amazing piece of business, great partnership and alignment in the vision. pic.twitter.com/rPh7JtrAan

— Shiga Digital (@ShigaDigital) June 9, 2025

______________________________

TL;DR – Tether in Africa:

Tether has invested in Shiga Digital, an Abu Dhabi-based startup offering financial infrastructure across Africa.

Services include virtual accounts, OTC trading, treasury management, and foreign exchange.

This follows earlier collaborations with African firms like Quidax and MANSA.

Tether aims to support FX-heavy industries and expand USDT access across the continent.

Africa is seen as a key frontier for blockchain adoption amid rising regulatory openness.

______________________________

 

This latest move follows a string of Africa-focused initiatives by Tether in recent months.

In early 2025, as reported by BitKE, Nigerian cryptocurrency exchange, Quidax, announced a partnership with Tether, signaling growing collaboration between stablecoin providers and African exchanges.

STABLECOINS | Regulated Nigerian Exchange, Quidax, Partners with Tether ( $USDT ) to Advance Education in #Nigeria and #Ghana

“With the growing interest in digital assets across Africa, stablecoins like USDT provide a secure and efficient means for individuals to store… pic.twitter.com/VKopXLDmzc

— BitKE (@BitcoinKE) March 27, 2025

Tether has also supported initiatives with regional relevance, including a Bitcoin mining education program and an investment in MANSA, a cross-border payment services firm that caters to African businesses. The company says these projects are part of a broader strategy to offer “seamless, blockchain-based financial infrastructure powered by USDT.”

“This collaboration marks a significant step toward addressing longstanding financial barriers faced by African businesses,” said Tether in its statement.

“Especially in cross-border payments and accessing global liquidity.”

FUNDING | MANSA Secures $10 Million in Seed Funding Led by Tether After Over 37% MoM Growth in 6 Months, Mainly in Africa, Leveraging $USDT https://t.co/oHBb1z669M @MANSA_FI @Tether_to @paoloardoino pic.twitter.com/jPSD4IZ9gz

— BitKE (@BitcoinKE) February 20, 2025

The Shiga Digital partnership is also expected to serve legacy sectors such as oil and gas – industries with considerable FX exposure and treasury needs.

 

Who is Shiga Digital?

Shiga Digital remains a relatively unknown player, with a minimal social media footprint and fewer than 10 employees, according to its LinkedIn profile. The startup is headquartered in Abu Dhabi but markets itself as a pan-African financial infrastructure provider. Its website highlights a mission to democratize financial access using blockchain.

Despite its size, Shiga’s strategic focus appears to align closely with Tether’s push to bring USDT-based solutions to underserved and inflation-prone markets.

An amazing piece of business, great partnership and alignment in the vision. pic.twitter.com/rPh7JtrAan

— Shiga Digital (@ShigaDigital) June 9, 2025

Abiola Shogbeni, CEO of Shiga Digital, commented:

“At Shiga Digital, we believe the future of money is decentralized.

We envision a world where Bitcoin becomes the default global currency. In contrast, local currencies may continue to serve as tools for value exchange, and internet-native money will increasingly dominate the broader financial landscape.

Stablecoins, particularly those pegged to stable assets like the U.S. dollar, will become essential components of everyday transactions and critical elements of financial portfolios, offering a reliable, non-speculative store of value. Self-custody will also become the norm, as individuals and businesses demand full control over their assets, rejecting custodial systems that impose unnecessary restrictions.

Our collaboration with Tether is rooted in this shared vision, as we build a financial ecosystem that empowers users with freedom, security, and resilience.” 

 

Shiga Digital is developing an on-chain gateway enabling users to transact directly in USD₮ for everyday goods and services, eliminating the need to off-ramp into local currencies and bridging economies across borders. Tether’s investment supports its broader commitment to expanding blockchain innovation and stablecoin adoption across Africa, accelerating the integration of blockchain technology into practical, day-to-day business operations.

 

Tether emphasized the continent’s momentum toward digital finance and cryptocurrency adoption. As reported by BitKE in late 2024, The company cited recent developments such as Morocco’s crypto assets draft legislation as examples of Africa’s growing receptiveness to blockchain innovation.

“Africa’s digital asset landscape is rapidly evolving,” the statement said. “There is a growing interest in digital assets across Africa.”

REGULATION | Morocco’s Crypto Assets Draft Law is ‘Currently in the Adoption Process’, Says Central Bank Governor

The bank is also exploring a central bank digital currency (CBDC) at the same time.https://t.co/bPPf083qlB pic.twitter.com/xlt16OGtuL

— BitKE (@BitcoinKE) November 27, 2024

Tether CEO, Paolo Ardoino, added that the partnership with Shiga Digital is about delivering “financial access and efficiency” to African enterprises.

“At Tether, we believe stablecoins are the heartbeat of financial transformation,” said Paolo Ardoino, CEO of Tether.

 “By collaborating with innovators like Shiga Digital, we aim to deliver financial access and efficiency to African enterprises. Together, we are not just imagining a future powered by blockchain technology, we are building it.”

STABLECOINS | Majority of New $USDT Users Are Coming from Emerging Markets, Including African Cities, Says a Bloomberg Analysis

According to Ardoino, Tether has just over 300 million users globally.https://t.co/DQz6v1xCHi @Tether_to @paoloardoino pic.twitter.com/jXthoNYyGt

— BitKE (@BitcoinKE) November 6, 2024

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A 24-year-old French-Moroccan man, believed to be one of the masterminds behind a string of crypto-related kidnappings in France, has been arrested by Moroccan police following a request from French authorities.

He is one of the ten most wanted French citizens in the world. And for good reason: his shadow looms over the series of ultra-violent kidnappings for ransom in the cryptocurrency world in the first six months of 2025.

The suspect, Badiss Mohamed Amide Bajjou, was apprehended by Morocco’s national police and intelligence services in the northern Moroccan city of Tangier. He is a native of Le Chesnay west of Paris. Authorities reportedly found him in possession of multiple sharp weapons and several mobile phones during the arrest.

REGULATION | #Morocco Authorities Probing Illegal Real Estate Transactions involving Cryptocurrencies

The investigation covers high-value real estate purchases by Moroccans with residency permits abroad, which may have been used to circumvent national foreign exchange… pic.twitter.com/HV7MHEvfja

— BitKE (@BitcoinKE) March 3, 2025

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TL;DR:

A French-Moroccan man accused of leading crypto kidnappings in France was arrested in Morocco.

Victims included the families of top French crypto executives.

France is taking new measures to protect its crypto industry players.

The arrest shows increasing cross-border action against crypto-related organized crime.

____________________

 

The arrest follows an Interpol red notice issued in 2023 linking Bajjou to various kidnappings and organized crime activities. France’s Interior Minister, Gérald Darmanin, confirmed the arrest in a post on X, formerly Twitter, praising Morocco’s cooperation.

“I sincerely thank Morocco for this arrest, which demonstrates the excellent judicial cooperation between our two countries, particularly against organized crime,” Darmanin said.

Je remercie sincèrement le Maroc pour cette arrestation qui montre l’excellente coopération judiciaire entre nos deux pays, en particulier contre la criminalité organisée. https://t.co/2nLxfKVHmU

— Gérald DARMANIN (@GDarmanin) June 4, 2025

The interpol-flagged individual was arrested in Tangier in a security operation jointly conducted by the National Brigade of the Judicial Police (BNPJ) and the General Directorate for Territorial Surveillance (DGST), the national police said in a press release.

The arrest comes in the wake of multiple high-profile kidnappings targeting crypto executives and their families in France.

May 13, 2025: An attempted abduction occurred in broad daylight involving the daughter and grandson of Pierre Noizat, CEO of French crypto platform, Paymium. Bystanders helped foil the kidnapping, which was caught on video and widely circulated online.

May 3, 2025: Paris police rescued the father of a crypto entrepreneur, who had been held for several days as part of a €7 million ($7.8 million) ransom plot.

January 21, 2025: David Balland, Co-Founder of crypto hardware wallet maker, Ledger, was kidnapped from his home and held overnight before being freed in a police operation. Balland’s finger was cut off by his kidnappers, who demanded a hefty ransom.

In response to this disturbing trend, French law enforcement is ramping up protection for individuals linked to the crypto sector. Measures reportedly include:

Priority access to emergency response hotlines

In-home security assessments

Safety training and briefings for executives and families

 

Bajjou’s arrest is a high-profile example of international cooperation in tackling crypto-related crime, particularly between Morocco and France. It also highlights the growing risks faced by crypto entrepreneurs, not just online but in real life.

French Citizen Gets Fined and Jailed for Using Bitcoin to Buy a Ferrari in Morocco

Moroccan courts have upheld an 18-month prison sentence handed down to a 21-year-old French citizen for ‘fraud’ and ‘illegal use of cryptocurrency.’ Morocco considers cryptocurrencies illegal.…

— BitKE (@BitcoinKE) May 12, 2023

As Africa’s crypto ecosystem continues to grow, similar security considerations may become increasingly relevant across the continent.

REGULATION | Morocco’s Crypto Assets Draft Law is ‘Currently in the Adoption Process’, Says Central Bank Governor

The bank is also exploring a central bank digital currency (CBDC) at the same time.https://t.co/bPPf083qlB pic.twitter.com/xlt16OGtuL

— BitKE (@BitcoinKE) November 27, 2024

 

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VERA, a secure B2B communications platform, has announced a partnership with Cheqd ($CHEQ), a decentralized identity and credential infrastructure provider, to develop a verifiable messaging solution for businesses in South Africa.

Every day, cybercriminals send an estimated 3.4 billion deceptive emails – masquerading as trusted sources – adding up to over one trillion phishing emails each year. These scams, which traditional encryption tools fail to address, have contributed to more than $43 billion in business email fraud since 2016, according to the FBI.

In Africa, the situation is especially concerning. Cybersecurity firm, Check Point, reported that during the first quarter of 2023, an average of one in every fifteen organizations across the continent faced a ransomware attempt each week.

REPORT | Crypto Among the Top 3 Most Affected Industries by Identity Fraud, Says ‘Fraud in Africa’ Smile ID 2025 Report

See ful report synopsis below:https://t.co/wHKDEWfTH4 @usesmileid pic.twitter.com/sCNinaoesy

— BitKE (@BitcoinKE) February 1, 2025

This widespread fraud and impersonation has exposed deep vulnerabilities in current digital communication systems. No global messaging platform currently guarantees that the sender’s digital identity is legitimate. VERA aims to fill that gap by issuing verifiable identities to businesses, following comprehensive checks on company information and founder credentials using data from government and banking registries.

VERA partners with third-party providers to access both public and private databases, enabling multi-layered identity verification. This rigorous process ensures that only authenticated and trusted businesses can join the VERA ecosystem. Currently, 27 businesses – primarily in the legal and construction sectors – are on the waiting list to join the platform in South Africa.

Once verified, a business is issued a tamper-proof digital identity recorded on the blockchain. This identity is immutable, verifiable, and secure.

This innovation ensures that when an invoice is sent via VERA, it is directly tied to a verified business account – removing the risk of bank detail tampering, a common tactic in invoice fraud. By embedding identities on-chain, VERA creates a trustworthy and persistent record that enables safer financial and operational transactions without compromising user privacy.

 

VERA began its beta launch on June 1 2025, targeting South African businesses, with a full MVP launch expected by the end of August 2025.

“VERA solves a genuine problem that affects us and companies globally: invoice manipulation fraud. We receive fraudulent invoices via email almost every week. VERA ensures that every company and individual on the platform is verified. This is a critical step toward our mission to embed verified identity into everyday business interactions,” said Fraser Edwards, Co-Founder and CEO of Cheqd.

AI Agents Framework: How to Plug Them with cheqd Trust Framework

AI agents are developing from simple chatbots into capable assistants that can carry out valuable tasks and automate decision making.

Learn about it.https://t.co/fuVnKgP9Wg

— cheqd.io (@cheqd_io) June 3, 2025

As digital fraud and impersonation escalate – especially in communication and payment workflows – trust has become a key differentiator. VERA’s platform blends strong encryption with verifiable digital credentials, helping businesses protect sensitive conversations while instantly validating their counterparties.

 

Through its integration with cheqd’s decentralized identity infrastructure – including support for:

Verifiable Credentials (VCs)

AnonCreds, and

DID-linked resources,

VERA will enable trusted, large-scale interactions.

Learn more here: https://t.co/OagIGuQqvL

— George Siosi Samuels (@GeorgeSiosi) January 4, 2023

“At VERA, we believe secure communication must also be verifiable. Cheqd’s infrastructure allows us to protect conversations and prove participant identities in a scalable, privacy-first, and future-ready way.

Together, we’re building the foundation of a more trusted digital economy, starting in Africa and expanding globally,” said Max Coleman, Co-founder of VERA.

 

This partnership positions South Africa at the forefront of the shift toward verified digital communications, while also enabling future interoperability with regulatory frameworks in the EU, UK, and US. Looking ahead, it also paves the way to integrate Cheqd’s decentralized payment infrastructure and explore applications in verifiable AI.

 

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About VERA

Founded in January 2024, VERA is a secure B2B communication platform that eliminates fraud and builds trust in digital interactions.

 

By combining robust encryption with verifiable credentials, VERA helps businesses instantly verify partners and securely exchange sensitive information.

Currently in beta in South Africa, VERA plans to expand into the UK, US, and Europe to support trusted global communication.

 

About Cheqd

Cheqd provides trust and payment infrastructure for building digital credential businesses, eIDs, personalized AI, and trust ecosystems. It supports privacy-preserving payments for data, enabling new data combinations and user experiences.

 

Cheqd offers customized network capabilities and supports multiple credential formats, including those under Europe’s eIDAS 2.0.

Its Trust Registries power flexible governance models for trusted data ecosystems and verified AI.

 

 

 

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Blockradar, a stablecoin wallet infrastructure startup based in Nigeria, has claimed first place at the 2025 Crypto Valley Conference (CVC) Startup Pitch Competition in Zug, Switzerland.

The win catapults Blockradar – and by extension, Africa’s blockchain builders – onto a global stage where embedded finance, decentralized rails, and cross-border innovations are at the forefront of the fintech future.

The annual conference, held in the heart of Crypto Valley, brought together over 1,500 attendees, 125 speakers, and a wide range of startups from around the world, all eager to shape the future of cryptographic technology across finance, identity, compliance, and trade.

TL;DR

Blockradar (Nigeria) wins first place at Crypto Valley Conference 2025

Infrastructure for stablecoin wallets, AML tools, gasless txs

Led by ex-Coinbase/Uber exec Morgan Williams and ex-Lazerpay CTO, Abdulfatai Suleiman

Focused on fintechs in Africa and emerging markets

$850K+ in prize commitments and global visibility

As featured in BitKE coverage of African crypto innovation

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A Global Stage, an African Vision

Representing Blockradar on the CVC25 stage was Morgan Williams, Chief Operating Officer (COO) and a former executive at Coinbase, Uber, and Braintree. Her delivery stood out – not just for staying within the strict five-minute pitch window – but for pairing a compelling narrative with technical clarity. She was also the only finalist to present an introductory video and fielded questions from investors and regulators with poise and precision.

Let me just tell you how it went down! Morgan entered the stage with confidence. She confidently looked at her wrist watch, to make sure she would meet the 5 minute mark. This is important because everyone else pitching went beyond 5 minutes, she seemed to be the only one who… https://t.co/VG68MrReGJ

— Yvonne Kagondu ∞ (@kagondu_yvonne) June 6, 2025

What truly distinguished Williams was her focus on why Blockradar exists: to serve fintechs in Africa and other emerging markets where traditional financial infrastructure is either limited or exclusionary.

Her articulation of mission and market – rather than just features – won strong praise from judges and attendees alike.

 

From Stealth to Spotlight

Just days before the competition, Abdulfatai Suleiman, Blockradar’s Co-Founder and CEO, had posted on X (formerly Twitter) that the team was aiming for first place. That optimism proved prophetic.

 

Suleiman, an engineer who previously served as CTO at LazerPay and held roles at PayStack and Patricia, co-founded Blockradar with Williams to unlock the stablecoin economy for underbanked fintechs.

“This was our first public pitch ever,” Suleiman later wrote.

“It’s easy to celebrate the win, but for me, it’s about the late nights, the belief, and the quiet work that got us here.”

Nigerian Web3 Startup, LazerPay, Shuts Down After Failing to Secure Additional Funding

The startup had reportedly raised $1.1 million by April 2022 backed by:

* Shola Akinlade of @paystack * @nuwacapital * @voltronafrica * @Nestcoinhttps://t.co/d2EaTEnCVz

— BitKE (@BitcoinKE) April 17, 2023

In its six-month private beta, Blockradar processed $32 million in on-chain volume, issued over 15,000 wallets, and introduced features like AML compliance tools, gasless transactions, and treasury dashboards. The platform now supports eight blockchain networks, with growing integrations across major African fintechs.

 

Speaking to BitKE, COO, Morgan Williams, expressed her excitement on the win saying:

“We were really fortunate to be selected. 

Some of the winners are already in Seed or Series A and some have large clients.

We didn’t just win. It was a blowout!

We’re feeling really excited and the hard work we’ve been working on has really paid off. Its really validation in what we’re building at Blockradar.”

 

11 Finalists, One Standout

Blockradar beat out 10 other high-potential early-stage startups, including:

Crymbo

Fija

Flashback

Griffin AI (AI agents for DeFi)

Margarita Finance

NominiS

Notarify

Rebell Pay

Paas

Finalists were judged on:

Feasibility

Originality

Business readiness, and

Execution clarity

The jury included notable names like:

Benedek Orban – CVA & CV Labs

Bastian Wetzel – CV VC

Raphael Grieco – Olive Capital

Max Schneider – Blockwall Capital

Philipp Vonmoos – Solana Foundation

Mathieu Chanson – VeryEarly Ventures

Their vote for Blockradar signals a strong belief in the company’s vision and technical depth.

 

Strategic Backing and Prizes

Blockradar and other winners received not just recognition, but a range of soft-committed investments and ecosystem advantages:

$400,000 from Blockwall Capital

$300,000 from VeryEarly Ventures

$150,000 CV Labs Accelerator Fast Track

€100,000 potential follow-on from Blockchain Founders Group

$50,000 priority review by Kiln Ventures

Trip to Solana Breakpoint Abu Dhabi (December 2025)

1-Year Crypto Valley Association Corporate Membership

The top three startups also secured free booth space and extended investor matchmaking access during the conference.

a few months ago we were deep in the trenches, building, iterating, and asking ourselves the hard questions that come with doing something new.

today @blockradarhq won place at the @CVConf_ pitch competition hosted by @thecryptovalley in switzerland our very first time… pic.twitter.com/a9b3ocoIAk

— iamnotstatic.eth | Blockradar (@iamnotstatic) June 5, 2025

What CVC25 Signifies for Africa

As BitKE has consistently reported, Blockradar’s victory is emblematic of a broader trend: Africa’s blockchain ecosystem is maturing fast – and with deep intent. No longer just chasing hype, African founders like Suleiman and Williams are building core infrastructure with tangible value.

Blockradar’s focus on stablecoins, compliance, and cross-border enablement responds directly to challenges in remittance flows, inflation-hedging, and regulatory fragmentation across African markets.

With its clear-eyed vision and proven traction, Blockradar now joins a select group of global innovators. But for its founders, the win is only a milestone – not the destination.

 

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About the Crypto Valley Conference

The Crypto Valley Conference, now in its seventh year, is co-hosted by the Lucerne University of Applied Sciences and Arts and the Crypto Valley Association.

 

This year’s themes included:

Institutional crypto infrastructure

Real-world asset tokenization

Venture funding strategies

CBDCs and stablecoin ecosystems

AI, regulation, and decentralized systems

The event also featured masterclasses, a startup showcase, and the iconic Lake Zug boat cruise to close out the summit.

 

 

 

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In late 2017, as Bitcoin approached $20,000 and global interest hit fever pitch, Moyo Sodipo ran into a problem many Nigerians still face today: there was no easy way to buy or sell crypto locally.

“I had to ask someone in the U.S to help me buy Bitcoin and send it over. You always had to depend on someone,” he recalls.

 

That friction led Sodipo and his Co-Founders – a 5-person crew bonded from their Jumia days – to build Busha, a simple, accessible crypto trading app for Nigerians.

By 2019, after a private beta and fully bootstrapped effort, Busha launched publicly.

At the time, Nigeria’s crypto regulatory landscape was a blank canvas – no ban, no clarity. But Busha was proactive.

“Even in 2018, we reached out to the SEC and said, ‘Here’s what we’re building. We know there’s no framework, but regulate us anyway,’” Sodipo says.

 

That compliance-first stance – emphasizing KYC and transaction monitoring – would later become vital to their survival.

CRYPTO EXCHANGE | Nigerian Exchange, BuyCoins Africa, Shutting Down Buycoins Pro Service

BuyCoins initially launched with a single app in 2017. However, it transformed into Basic and Pro versions, the Basic version catering to buying and selling (investing) in digital… pic.twitter.com/MCqR0Dco6i

— BitKE (@BitcoinKE) January 2, 2024

Development began in early 2018, led by Co-Founder and engineer, Michael Adeyeri, who wrote Busha’s first lines of code. The team juggled multiple roles: support, product, finance, ops, marketing – handled entirely in-house.

“We were more than colleagues,” Sodipo says. “We’d known each other over a decade. Almost like brothers.”

 

Validation came during the 2020 COVID-19 lockdown. While global markets crashed, Busha saw users buying the dip.

“That moment showed us we’d built something essential,” he says.

Close to Half of All P2P Bitcoin Volumes in Africa are Driven by Nigeria, the Continent’s Most Populous Nation, Latest Report Shows | @BitcoinKe https://t.co/EBJJZcHqDQ

— Kenyan Blogs & Vlogs (@BestKenyanBlogs) October 26, 2020

On February 5, 2021, the Central Bank of Nigeria (CBN) issued a circular banning banks from processing crypto transactions.

“We call it Crypto Black Friday,” Sodipo says.

“It was chaos. I saw the circular on Twitter. My phone blew up. Customers panicked. Partners shut us off. Payment processors disappeared.”

[TECH] The Central Bank of Nigeria Warns Financial Institutions Against Facilitating Crypto Payments with Crypto Exchanges: The Central Bank of Nigeria (CBN) has put out a circular notifying financial instit.. https://t.co/bTmivmEjme via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) February 5, 2021

Busha had to act fast. Withdrawals were processed manually. No time for meetings – only survival.

“If customers can’t access funds, you’re finished,” he says.

 

That crisis unexpectedly united the industry. Competing platforms joined a WhatsApp group to strategize, breaking the silence and silos that previously defined the space.

Even employees faced personal risks. Banks shut down accounts – including staff salary accounts – without warning. Yet, the 30 – 40 person team powered through, often putting in extra hours just to keep operations alive.

REALITY CHECK | Nigerian Banks and Fintechs Remain Wary of Crypto Despite New Licenses

Despite the SEC’s issuance of provisional licenses to Quidax and Busha, senior executives at major fintech startups report that banks are ignoring these licenses.

Until clarity is achieved,… pic.twitter.com/ae0NoSUoB9

— BitKE (@BitcoinKE) September 10, 2024

By June 2021, Busha had stabilized. The team reached out to every returning user, guided them through new processes, and encouraged referrals. Their transparent, always-on support became a lifeline.

“We went back to the trenches and rebuilt everything from scratch,” Sodipo says.

 

Later that year [2021], as reported by BitKE, Busha raised a $4.2 million seed round led by Jump Capital – proof of their resilience.

“We’d survived the ban, rebuilt trust, and grown – without external funding. That’s rare.”

Nigeria Exchange, Busha, Raises $4.2 Million for Grow its 200,000 User Base to 1 Million: https://t.co/fuWV0p6eAT @getBusha

— BitKE (@BitcoinKE) November 26, 2021

In December 2023, the CBN finally reversed its stance and allowed banks to work with crypto firms again.

“For a moment, I just sat there,” Sodipo says. “It was the happiest day of my life as a founder.”

REGULATION | The Central Bank of #Nigeria Lifts the 2021 Banking Restrictions on Cryptocurrency Exchanges and VASPs

In a circular sent to the banks and financial institutions in Nigeria, the Central Bank (CBN) guided that the new regulation supersedes previous instructions on… pic.twitter.com/Eeheb2yjgu

— vid.ken (@vid_kenNFT) December 24, 2023

The relief was real. No more workarounds. No more shadows.

By 2024, Nigeria’s SEC launched the Accelerated Regulatory Incubation Program – a framework to formally license crypto platforms. Thanks to its early compliance efforts, Busha became one of the first exchanges to receive a provisional license.

“That license was a reward for all the hardship. Now we can walk into any bank, any boardroom, and say: we’re licensed,” says Sodipo.

REGULATION | Nigeria SEC Issues a Notice for Onboarding VASPs in 30 Days Due to ‘Current Realities’

Following the 30-day-period, the Commission indicated that it would commence enforcement action against any operating VASP that fails to comply with the directives.… pic.twitter.com/ThvMC4MwFQ

— BitKE (@BitcoinKE) June 22, 2024

Internally, it was a turning point. “No more fear. Our team could finally wear their crypto badges with pride.”

 

Today, Busha serves over 800,000 users, with 10% monthly actives. It’s expanded to Kenya, and launched Busha Yield (for crypto interest) and Busha Spend (to use crypto at retail outlets).

 

Sodipo believes one of the biggest lessons from the journey is education – for customers, regulators, and the public.

“Back in 2019, crypto was synonymous with Ponzi schemes. Now, with stablecoins and real-world use cases, it’s different.

People are seeing the utility.”

 

When asked what’s stayed with him over the years, he pauses:

“If you’re building in a misunderstood space like crypto, pushback is inevitable.

Resilience in crisis isn’t optional – it’s the only way to survive. We reached out to regulators before they had rules. We didn’t wait to be caught off guard.”

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

Would he do it all again?

“Absolutely. The journey’s been wild – but we’re just getting started.”

 

Explore more Web3 founder journeys and crypto insights at BitcoinKE.io

 

 

 

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