BitcoinKE

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

__________________

 

 

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.

 

____________________________

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.

 

 

 

Follow us on X for latest posts and updates

Join and interact with our Telegram community

___________________________________________

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

 

 

 

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

_________________________________________

In a case that blurs the line between romance and fraud, a 25-year-old Lagos woman, Emmanuella Ogochukwu, and her 22-year-old brother, Ogbuka Tochukwu, have been arrested for allegedly orchestrating a crypto-fueled robbery against her romantic partner – stealing three iPhones and $10,000 worth of bitcoin.

According to a police report, the victim – whose name remains undisclosed – filed a complaint at the Okota Police Station, prompting a transfer of the case to a specialized investigation unit under the Lagos State Police Command.

The suspects reportedly confessed after their arrest, leading authorities to recover the stolen phones and $4,300 in cash, part of the looted crypto haul. Investigators are still pursuing additional accomplices believed to have aided in the attack.

 

The police signal message reads:

 

“On the 17th February, 2025 a case of conspiracy and armed robbery was transferred from Okota police station to this outfit for discreet investigation. The complainant one alleged that his girlfriend one Emmanuella Ogochukwu “f” 25yrs conspired with her brother and his friends to rob him of three iPhones and bitcoins worth about 15million Naira. 

 

Upon the receipt of the casefile and following the confessional statement of Emmanuella Ogochukwu “f”, one Ogbuka Tochukwu “m” 22yrs a younger brother to Emmanuella Ogochukwu “f” was trailed and arrested by the operatives of the Command. Both of them confessed to the crime. 

 

All the complainant’s robbed phones and sum of N6.5million were recovered and have been registered with the exhibit keeper. Investigation is still ongoing to arrest the other wanted members of the gang. Further development will be communicated yours. Above for your information, please.” 

  What makes this case different from your typical armed robbery is the emotional manipulation that preceded the theft. Police reports indicate that the victim trusted Emmanuella deeply – only to be blindsided when she allegedly set him up.  

This incident underscores a dangerous and growing trend: the intersection of romance and crypto crime. Digital currencies offer anonymity, rapid liquidity, and are hard to trace – all of which make them attractive to bad actors looking to exploit personal relationships for financial gain.

This case adds to a worrying pattern in Nigeria and globally, where romantic trust is weaponized for digital asset theft.

In December 2024, as reported by BitKE, Nigerian authorities arrested nearly 800 individuals in Lagos during a raid on a scam operation known as “Big Leaf.” That group used fake online relationships to funnel victims into sending funds to fraudulent crypto platforms – a phenomenon known as “pig butchering.”

REGULATION | EFCC #Nigeria Busts Up Crypto Fraud Syndicate in Lagos, Arrests 193 Foreign Nationals

The Commission is working with international partners and will investigate possible connections to organized crime.https://t.co/vDxrWamCNE @officialEFCC pic.twitter.com/GoFuq934rM

— BitKE (@BitcoinKE) December 17, 2024

In that raid, suspects – some foreign nationals – were caught running scripts, posing as romantic interests on WhatsApp and Instagram, and guiding victims into sending crypto to non-existent investment platforms.

 

 

Why Bitcoin and Crypto Are Prime Targets

Fast and Final: Unlike traditional bank transfers, crypto transactions can’t be reversed once sent.

Hard to Track: Many victims never recover their stolen assets due to weak crypto tracing infrastructure.

Emotional Targets: From pig butchering to romance scams, perpetrators prey on loneliness, trust, and urgency to extract money quickly.

CRYPTO CRIME | EFCC Nigeria Arraigns Foreign Nationals Accused of Cryptocurrency and Romance Fraud Following a ‘Landmark Raid’

The EFCC described the raid as its largest single-day operation, calling it a ‘landmark raid.’https://t.co/dltTTNnG3B @officialEFCC pic.twitter.com/aR7PvzaNHU

— BitKE (@BitcoinKE) February 21, 2025

Whether it’s an elaborate pig butchering scam or a one-on-one betrayal like the Lagos case, the rules are the same:

 

Trust Checklist for Crypto Safety:

Never share your wallet keys or balances—not even with a partner.

Avoid crypto discussions in early-stage relationships—especially if initiated by the other person.

Don’t send bitcoin or crypto based on emotional pressure.

Use trusted exchanges with real-time fraud alerts.

Report suspicious behavior to authorities and platforms immediately.

 

If love feels too good to be true – and involves crypto – it just might be.

 

 

 

Follow us on X for latest posts and updates

Join and interact with our Telegram community

______________________________________

Binance, the world’s largest cryptocurrency exchange by trading volume and registered users, is seeking a full-time affiliate manager in Accra, Ghana. Below are the details:

Responsibilities:

Growing affiliate network: cold outreach to YouTubers, Media, Influencers. Negotiations, onboarding, paperwork if needed;

Managing key accounts: regular communication with affiliates, analyzing their performance, and offer recommendations on how to improve;

Creating and executing promotional campaigns with a focus on ROI;

Building reports using internal data, optimizing overall affiliate channel performance;

Monitoring competitor space and adjusting our strategy accordingly;

Fraud detection, revealing the new scam schemes and any sort of manipulation by partners.

Requirements:

Minimum 6 years of relevant marketing experience, preferably in Fintech/BtoC mobile or community driven brand/web3;

Experience in managing large affiliate programs, preferably in the fintech space, ideally in the crypto space;

A business development background is a plus;

Understanding of the crypto space;

Excellent communication and presentation skills;

Experience in working with media, celebrities, key partners, or influencers;

Fluency in English is a must to be able to work with internal and external stakeholders.

Why Binance • Shape the future with the world’s leading blockchain ecosystem • Collaborate with world-class talent in a user-centric global organization with a flat structure • Tackle unique, fast-paced projects with autonomy in an innovative environment • Thrive in a results-driven workplace with opportunities for career growth and continuous learning • Competitive salary and company benefits • Work-from-home arrangement (the arrangement may vary depending on the work nature of the business team) Binance is committed to being an equal opportunity employer. Binance believes that having a diverse workforce is fundamental to its success. Apply here

Follow us on X for latest posts and updates

Join and interact with our Telegram community

______________________________________

No one gets told “no” more than a young African with a big idea. But for the trailblazing entrepreneurs, creatives, scientists, and changemakers on this year’s Forbes Africa 30 Under 30 list, every rejection has only strengthened their resolve.

Faced with closed doors, they’re creating their own. And with an unwavering commitment to development and innovation, they’re rewriting what it means to build Africa’s future.

 

At the 2024 Africa CEO Forum in Kigali, Rwandan President, Paul Kagame, said it plainly:

“Africa does not have to ask for a seat at the table.”

 

This year’s Under 30 honorees embody that belief. They’re not just seeking space in boardrooms – they’re constructing their own, and bringing their peers with them. Together, they reflect a generational motto: “standing on business” – doing what needs to be done, no matter what.

From health tech to fashion, from fintech to sports, they’re showing up and showing out – not just to create jobs, but to create legacy.

The Forbes Africa 30 Under 30 list is renowned for spotlighting young entrepreneurs, creatives, and leaders who are shaping the future of the continent.

The 2025 cohort includes individuals from various sectors, including technology, finance, fashion, and arts, all of whom are making significant contributions to Africa’s development.

 

Youth Unemployment: Africa’s Silent Crisis

The numbers are stark.

South Africa: 8.2 million people unemployed as of May 2025. Among youth (15–34), the figure stands at 4.8 million.

Kenya: 35% of young people are unemployed, according to the Federation of Kenya Employers.

Uganda: The youth unemployment rate sits at 4.5%, but among graduates it’s a worrying 15.2%.

Nigeria: Youth unemployment rose to 8.6% in Q3 2023.

These realities are driving this generation to act. They’re not just founding startups – they’re creating ecosystems for economic inclusion.

 

One of these young entrepreneurs building the rails to reduce the unemployment burden is Wisani Hlangwane, a South African youth and Founder of a Web3 startup called Funti3r.

Launched in Cape Town in 2022, Funti3r was built to solve a fundamental challenge in the modern workforce: how to seamlessly find, hire, and pay skilled professionals across borders. The platform acts as a bridge between global companies and remote talent – especially in underserved regions – delivering a frictionless hiring experience powered by smart contracts technology and fast, secure crypto payments.

EXPLAINER | How South African Startup, @funti3r, Earns Recurring $5,000 Monthly Using Blockchain to Power the Future of Global Work

The platform acts as a bridge for global companies and remote talent delivering frictionless experienceshttps://t.co/Rvx4av7SZ5 @whlangwane1 pic.twitter.com/GpZ59Ql7Zs

— BitKE (@BitcoinKE) April 17, 2025

But what sets Funti3r apart is its tech-first approach: blockchain-enabled payments that eliminate the traditional frictions of cross-border transactions, and AI-driven talent matching that shortens the hiring cycle significantly.

“I am in the sweet spot of being a market-maker, and we are just connecting the dots for the ecosystem.” – Wisani Hlangwane

 

Building with AI: From Healthcare to Scale

AI isn’t just a buzzword to this class – it’s a core business tool. Many of the 2025 honorees are deeply invested in artificial intelligence as a lever for scale and sustainability.

Take Darlington Ahiale Akogo, the Ghanaian founder of MinoHealth AI Labs. His team is building diagnostic AI tools for conditions like pneumonia, breast cancer, and even malaria.

His mission?

To democratize access to quality healthcare, even in countries with fewer than five radiologists.

“The AI system today is like a co-pilot – it drafts the report, but a radiologist signs off,” says Akogo.

“But we need to go further. AI must be able to function independently in the most remote corners of Africa.”

 

South Africa’s Dr. Bradley Max Segal, CTO of Engage Mx, shares that vision – cautiously.

“We need real evidence,” he says. “

Healthcare professionals are uniquely positioned to build trustworthy AI. But we must challenge the hype and ensure these tools really do what they claim.”

Self-Made? Not Without Community

Many on the list reject the “self-made” label – pointing instead to the support networks that shaped their paths.

“I think it’s impossible to be self-made,” says Springboks and DHL Stormers player Sacha Feinberg-Mngomezulu.

“You can dream big, but support is what makes the dream real.”

 

Mas’ooda Varachia, founder of Raven Technologies, echoes this:

“To be great, I need to see greatness in others. And I’ve been fortunate to be surrounded by it.”

 

Their success is communal, built with coaches, mentors, family, and friends – proving that African excellence is never a solo act.

 

The Creative Economy Rises

Africa’s creative industries are booming – generating over $4.2 billion annually, according to CrossBoundary Group.

 

Ghanaian R&B and Afro-fusion artist Gyakie (Jackline Acheampong) is watching it unfold:

“It’s not just about me – it’s all of us, taking Africa to new heights.”

 

As Forbes Africa celebrates its 11th edition of the 30 Under 30, one thing is clear: Africa’s youth are not waiting for change. They are change. They are doing the work, building the infrastructure – physical, digital, and social – that will define Africa’s next chapter.

This isn’t just a list. It’s a movement.

 

Wisani’s success story and that of the other selected African youth serve as an inspiration to many aspiring Web3 entrepreneurs across the continent.

 

 

Follow us on X for latest posts and updates

Join and interact with our Telegram community

______________________________________

Kenya’s startup ecosystem has reached a significant milestone with the successful hosting of its inaugural Startup World Cup regional competition. This event, held at the Kenya Startup Festival and organized by the Kenya National Innovation Agency (KeNIA), attracted over 160 applications from innovative startups nationwide.

After a rigorous selection process, ten standout startups were chosen to pitch their solutions on the festival stage.

 

Meet the Top 10 Finalists

The selected finalists represent a diverse range of sectors, showcasing Kenya’s vibrant entrepreneurial landscape:

BuuPass: A platform facilitating bus, train, and flight bookings, co-founded by Sonia Kabra and Wyclife Omondi.

Sio Valley Technologies: Led by Trevor Siu, focusing on technological innovations.

Ndovu: A fintech startup founded by Radhika Bhachu, aiming to simplify investment processes.

VunaPay: An agri-fintech solution by Gatwĩri Njogu-Mokaya, providing financial services to farmers.

Neural Labs Africa: Founded by Tom Kinyanjui Njoroge, specializing in artificial intelligence solutions.

Jahazii: A digital platform by Vaidehi Tembhekar, enhancing maritime logistics.

Leafy Life: Led by Johnson Mboya, focusing on sustainable energy solutions.

Payd HQ: A fintech company founded by Benaiah Wepundi, offering payroll solutions.

Melanin Kapital: Co-founded by Mélanie Keïta, providing financing solutions for African SMEs.

Zerobionic: Founded by Norah Kimathi, developing assistive technologies.

FINTECH | Kenya’s Payd App Wins Mozilla Innovation Grant to Develop Payment Platform for Freelancers and Creatives

Payd, a fintech startup that provides a payment platform catering to freelancers and creatives, was one of the winners at the Mozilla Africa Innovation Challenge… pic.twitter.com/Y7NARWakCM

— BitKE (@BitcoinKE) August 30, 2023

These startups have earned the opportunity to represent Kenya at the Startup World Cup Grand Finale in San Francisco on October 17, 2025. At this event, they will compete for a $1 million investment prize, presenting their innovations to a global audience of investors, founders, and media.

Kenya’s VunaPay Emerges Victorious at #Latitude59 Pitch Competition

“This year’s focus was heavily on impact-driven solutions . . . most were ready to raise a round and had properly functioning products!” said Latitude59’s CEOhttps://t.co/YCEIgo3ZK0 @latitude59 @twiva_ltd pic.twitter.com/u2DXBYBqZa

— BitKE (@BitcoinKE) November 30, 2024

The Road Ahead

The Startup World Cup, powered by Pegasus Tech Ventures, is a prestigious global competition that brings together over 100 regional events across 60+ countries. The Grand Finale in San Francisco is a culmination of these events, offering startups a platform to gain international exposure and secure significant investment.

Kenya’s participation in this global event underscores the country’s growing prominence in the global startup ecosystem. The success of these ten finalists not only highlights the innovative spirit of Kenyan entrepreneurs but also sets the stage for increased investment and collaboration opportunities on an international scale.

As these startups prepare for the Grand Finale, they carry with them the aspirations of a nation eager to showcase its potential on the world stage. Their journey serves as an inspiration for other entrepreneurs and a testament to the vibrant innovation landscape in Kenya.

 

For more information on the Startup World Cup and to follow the journey of these finalists, visit the Startup World Cup official website.

 

 

 

Follow us on X for latest posts and updates

Join and interact with our Telegram community

______________________________________

In a brazen attack that has sent shockwaves through Uganda’s cryptocurrency community, Festo Ivaibi, Founder of Mitroplus Labs and Afro Token, was abducted in May 2025, by armed individuals impersonating Uganda People’s Defence Forces (UPDF) operatives.

The assailants, dressed in military uniforms and wielding firearms, intercepted Ivaibi near his residence on Bunamwaya Road. Under duress, they compelled him to transfer $500,000 (approximately UGX 1.9 billion) in cryptocurrency from his wallets, including Binance, to their Trust Wallet.

Mitroplus Labs released a statement confirming the incident, noting that the attackers forced Ivaibi to access multiple crypto wallets and execute a small sale of Afro Token. This action briefly impacted the market, but it has since stabilized. The company emphasized that no community funds were compromised beyond the forced sale, and their tech and security teams acted swiftly to wipe compromised devices and secure all wallets.

A formal report has been filed with the police, and investigations are underway. Mitroplus Labs alleges the involvement of a syndicate comprising informants, rogue security operatives, police, and two Chinese businessmen. The statement claims at least 48 similar cases have occurred in Uganda, often dismissed due to the influence of this syndicate.

 

Rahmah Kizito, a crypto trader and fashionista, expressed his outrage and concern over the incident:

“I’m still processing what happened to my brother and friend Festo Ivaibi,” he said.

“A man who has poured his energy into educating and empowering others through crypto and Web3, abducted at gunpoint by thieves posing as UPDF operatives and in uniform, threatened, and forced to surrender his crypto wallets under duress. This isn’t just about money. It’s about the risks innovators face in unregulated environments.

We need protection. We need regulation. We need to make sure this never happens again.”

 

Kasim Mpanga, a crypto enthusiast, also voiced his support for Ivaibi on X (formerly Twitter), stating:

“We are heartbroken to hear about the horrific ordeal you endured. No one should face such a violation, and our hearts ache for you and your family. We keep you in our prayers as you navigate this pain.

Your resilience and commitment to a secure crypto ecosystem inspire us all. Stay strong.”

 

The incident has reignited calls for stricter regulation of Uganda’s cryptocurrency sector, which has seen a surge in scams and fraudulent schemes in recent years.

Thousands of Ugandans, Including a Senior Army Officer, Lose Billions in the Global Cryptocurrencies Limited Scam: https://t.co/u8tLKuTd9a #CryptoScam #Uganda

— BitKE (@BitcoinKE) December 10, 2019

According to previous report by BitKE, Uganda has become a hotbed for cryptocurrency scams, with schemes like OneCoin defrauding many Ugandans.

[TECH] [WATCH]FBI Offers $100,000 for Most Wanted Crypto Fugitive, ‘CryptoQueen’ – Founder of OneCoin: The Federal Bureau of Investigation (FBI) is offering a reward of up to $100,000 for information l.. https://t.co/ijyWDBIKDu via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) July 4, 2022

Mitroplus Labs, a free learning hub for crypto education across Africa, reiterated its commitment to fostering a secure and transparent crypto ecosystem despite the challenges posed by bad actors. The company urged its community to tighten security protocols, practice safe wallet storage, and remain cautious about discussing assets publicly.

In a 2023 interview, Ivaibi highlighted the proliferation of crypto scams in Africa, attributing them to limited educational efforts and a lack of regulatory frameworks. He emphasized the need for governments to create a friendly environment for blockchain technology to grow while studying and learning how to regulate it.

New Vision, Uganda’s Leading News Daily Podcast, Talks Cryptocurrencies Following Recent Crypto Scams

The podcast advises users and investors to take time to research on cryptocurrencies before investing their money. https://t.co/lf2DCdUDIL @newvisionwire @blockchainug

— BitKE (@BitcoinKE) December 11, 2019

Despite the growing interest in cryptocurrencies, the Ugandan government has maintained a cautious stance. In a statement, as reported by BitKE back in 2020, the Ministry of Finance warned the public against cryptocurrencies, stating that the government does not recognize any cryptocurrency as legal tender and has not licensed any organization to sell or facilitate trade in cryptocurrencies.

LATEST: We Advise the Public to Desist from Investing in Unregulated Cryptocurrencies, Says State Minister of Finance, Uganda: https://t.co/Y2PETMhurQ #CryptoUG #BlockchainUG

— BitKE (@BitcoinKE) February 7, 2020

In 2021, as reported by BitKE, the Financial Intelligence Authority of Uganda (FIA Uganda) requested the Ministry of Finance to come up with a framework to help regulate cryptocurrency operations in the country. This request came following non-compliance by various crypto operators in the country to register their operations – a call which went out in late 2020.

The Financial Intelligence Authority of Uganda Seeks Cryptocurrency Regulatory Framework from the Government: https://t.co/uVNgBfVMCh

— BitKE (@BitcoinKE) May 24, 2021

In 2022, the Bank of Uganda (BoU) issued a circular to all payments service providers, especially mobile money operators, reminding them to desist from facilitating cryptocurrency transactions. As such, the apex bank further reminded payments players that its position on cryptocurrencies had not changed since 2019 when it stated that it did not allow financial service providers to facilitate trade in cryptocurrencies, or even trade directly.

Bank Of Uganda to Clamp Down on Mobile Money Operators Facilitating Crypto Transactions #cryptocurrency #mobilemoney #payments https://t.co/JAuX9lvdCr

— Patti Hewitt (@PaymentGal) May 3, 2022

As investigations continue, the crypto community in Uganda remains on high alert, advocating for increased security measures and regulatory oversight to protect innovators and investors alike.

LATEST: Ugandan Crypto Scam, DunamisCoin, Closes Shop After Defrauding Dozens of Investors: https://t.co/A9WoSD5AeL #CryptoScams

— BitKE (@BitcoinKE) December 7, 2019

 

 

 

Follow us on X for latest posts and updates

Join and interact with our Telegram community

______________________________________

PolyMarket, the decentralized prediction platform renowned for its real-time election forecasting accuracy, has been named the official prediction market partner of X (formerly Twitter), the social media platform owned by Elon Musk.

The partnership, announced in June 2025, signals a pivotal step in merging open financial markets with social media – transforming how people consume and contextualize real-world information.

 

Polymarket announced the collaboration on X, writing:

“The next information age won’t be driven by 20th-century media monoliths – it’ll be driven by markets.

Our partnership with X marks a new chapter for truth on the internet.”

 

X echoed the sentiment, confirming it was “joining forces” with Polymarket to integrate decentralized prediction markets into the platform.

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

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

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

— BitKE (@BitcoinKE) July 31, 2022

Why Prediction Markets Matter

Prediction markets offer something scarce in the age of misinformation: incentives for being right.

Unlike opinion polls or punditry, which often carry no consequence for inaccuracy, market participants have skin in the game. Making a wrong prediction costs money; being right is rewarded. This financial pressure creates an environment where truth and accuracy are economically valuable—and misinformation is punished.

In short: prediction markets turn information into a competition for precision.

With declining trust in mainstream news, partisan media, and manipulated algorithms, prediction markets represent a new infrastructure for truth-discovery—open, transparent, and economically aligned with reality.

[TECH] Understanding DeFi Prediction Markets and Why they are Always Right: Prediction markets are one of the applications that have emerged under decentralized finance (DeFi). Here, prediction markets are a.. https://t.co/43WdFztnmc via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) September 19, 2021

 

From Niche to Necessity

Launched in 2020, Polymarket has built a reputation as the go-to source for real-time, crowd-driven forecasting on political, economic, and cultural events.

Users trade on the likelihood of outcomes – ranging from election results and Supreme Court decisions to celebrity appearances – by buying and selling shares that reflect the market’s belief in a specific result. Prices serve as a distilled signal of collective expectations.

The platform gained mainstream credibility during the 2024 U.S. election cycle. While traditional polling struggled with timing and sampling errors, Polymarket’s forecasts adjusted in real time to debates, news cycles, and voter sentiment. Its markets processed over $100 million in political event volume, often providing more accurate probabilities than legacy polling firms and media pundits.

Institutional analysts and newsrooms began citing Polymarket’s pricing data as an alternative barometer for political forecasting – ushering in a new era where transparency, liquidity, and user incentives drive information accuracy.

 

Replacing Legacy Media Signals

The X–Polymarket alliance is part of a broader initiative to decentralize how truth is surfaced and validated on the internet. Rather than relying on centralized editorial judgment, opaque algorithms, or flawed polling methodologies, prediction markets operate on financial incentives:

 

Those who predict accurately win; those who don’t, lose.

 

Polymarket sees its role as a modern replacement for outdated systems of consensus-building – offering market-derived signals that outperform media narratives and polling averages. In doing so, it aims to displace legacy intermediaries with a more dynamic, transparent model of truth-discovery.

METRICS | Only 12.7% of Users on PolyMarket are Profitable, Reveals On-Chain Data

The majority of users on @Polymarket, accounting for 87.3% of users, have seen losses, with most profits being under $100.https://t.co/Hg9iseAzn8 @layerhub #Polymarket pic.twitter.com/KFy4PoJ1lH

— BitKE (@BitcoinKE) October 10, 2024

X referred to Polymarket as the “leading authority in accurately forecasting elections,” adding:

“In a sea of noise, prediction markets deliver clarity through a single, powerful signal: price.”

 

Though the details of the integration are yet to be disclosed, early expectations suggest that prediction market data could become natively visible in posts, trending topics, or event discussions – allowing users to see what the crowd believes, not just what’s being talked about.

If successful, this partnership could fundamentally shift how people understand unfolding events – replacing polarization and punditry with probabilities and price-based consensus.

BREAKING: US recession odds continue to plummet.

Now less than 30% chance.

— Polymarket (@Polymarket) June 3, 2025

 

Follow us on X  for the latest posts and updates

Join and interact with our Telegram community

________________________________________

The Central Bank of Kenya (CBK) has announced the approval of 41 additional digital lenders, bringing the total number of licensed Digital Credit Providers (DCPs) in Kenya to 126.

 

In a statement dated Thursday, June 5, CBK confirmed that the newly approved companies had met the requirements outlined under Section 59(2) of the Central Bank of Kenya Act (CBK Act).

“The Central Bank of Kenya (CBK) announces the licensing of an additional 41 Digital Credit Providers (DCPs), pursuant to Section 59(2) of the CBK Act.

This brings the number of licensed DCPs to 126, following the last licensing round of 27 DCPs announced in October 2024,” the statement read in part.

 

As of March 2024, the Central Bank of Kenya (CBK) had licensed a total of 51 Digital Credit Providers (DCPs) to operate in the country. This followed the addition of 19 new digital lenders to the existing 32 that were approved in March 2023.

LIST | Central Bank of Kenya Grants Licenses to 19 More Digital Lending Companies Bringing the Total to 51 – https://t.co/FMaKW7cwJG

— Edduhspeaks (@edduhspeaks) March 8, 2024

Here’s a summary of the licensing requirements for Digital Credit Providers (DCPs) in Kenya under CBK regulations.

 

CBK Licensing Requirements for Digital Lenders

1. Legal & Physical Presence

Must be a company incorporated in Kenya.

Must have a registered physical office in the country.

2. Documentation

Company registration and shareholder documents.

ICT system details and digital credit delivery channels.

Agreements with third-party service providers.

Comprehensive policies on AML/CFT, data protection, governance, consumer protection, etc.

3. Ownership & Management Vetting

“Fit and proper” checks on directors, senior officers, and major shareholders.

Includes police clearance, tax compliance, and CRB reports.

4. Data Protection

Must register with the Office of the Data Protection Commissioner (ODPC).

Show evidence of strong data protection and privacy safeguards.

5. Consumer Safeguards

Clear loan terms and pricing models.

Formal customer complaint and redress mechanisms.

6. Fees

Application fee (non-refundable).

Annual renewal fee: KES 20,000.

7. CBK Review Timeline

Application review within 60 days.

Approved DCPs are published in the Kenya Gazette and CBK website.

8. Ongoing Compliance

Submit annual returns and updates on changes in management/shareholding.

Cannot take deposits or hold cash collateral for loans.

These requirements are aimed at enhancing transparency, accountability, and consumer protection in Kenya’s digital lending sector.

 

CBK noted that several other applications are still under review.

“CBK has received more than 700 applications since March 2022 and has worked closely with applicants throughout the review process. In addition, CBK has engaged other regulators and agencies relevant to the licensing process, including the Office of the Data Protection Commissioner,” the statement added.

“Some applicants are at different stages in the process, mostly pending the submission of required documentation. We urge these applicants to submit the necessary documents promptly to facilitate the completion of their applications.”

 

Full List of the 41 Newly Licensed Digital Credit Providers:

Absolute Credit Kenya Ltd

Adroit Credit Limited

Asap Credit Limited

Aventus Technology Limited

Avenews Ke Ltd

AVL Capital Ltd

Bimas Kenya Limited

BRAC Kenya Company Limited

East African Futures Company Limited

Fabilo Credit Ltd

Fantom Capital Limited

Finberry Capital Ltd

Finboom Credit Kenya Limited

Frictionless Enterprises Limited

Girls First Kenya Limited

Granary Capital Limited

Helium Credit Limited

Kifedha Ltd

Kikwetu Credit Ltd

Leja Ltd

Loan Plus Ltd

Longitude Capital Limited

Maxxton Enterprise Ltd

Milhan Access Capital Limited

Mkulima Pay Ltd

Modesty Credit Ltd

Moneza Ltd

Nawiri African Sprouts Ltd (Fast Credit)

Newark Frontier Limited

Numida Technologies Limited

Simbageld Ltd

Sipranda Capital Ltd

Spectrum Capital Ltd

Spread Capital Ltd

Steadfast Credit Ltd

Tentacorp Holdings Limited

Tinycost Credit Kenya Limited

Truway Credit Limited

Voncodes Capital Limited

Zoe Credit Limited

Zuri Credit Limited

 

 

 

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

__________________________________________

Tigran Gambaryan, the former U.S. federal agent who spearheaded Binance’s financial crime investigations team, has officially left the crypto exchange, marking the end of a transformative four-year chapter. His departure comes less than a year after a harrowing eight-month detention in Nigeria, where he was held on allegations related to Binance’s operations in the country.

“There’s a growing need for trusted, experienced operators,” Gambaryan wrote in his farewell message on LinkedIn, “people who understand how to translate between technology, enforcement, and compliance.”

 

From IRS Investigator to Crypto Crime Leader

Gambaryan joined Binance in 2021, at a time when the exchange was facing growing scrutiny from regulators over money laundering and illicit finance concerns. At the time, Binance had no investigations division. What followed was a complete buildout of the company’s first global investigations unit – a team of over 100 professionals, including former prosecutors, cybercrime agents, and intelligence analysts.

Under Gambaryan’s leadership, Binance responded to tens of thousands of law enforcement requests annually, helped train thousands of police and regulators globally, and contributed to real-world cases involving terrorism financing, cybercrime, drug trafficking, and trans-national fraud.

Notable cases included:

A $270 million fraud ring takedown in collaboration with the Royal Thai Police.

Disruption of ISIS-linked wallets, resulting in arrests and the seizure of terror funds.

Support for Nigeria’s EFCC, including the recovery of $400,000 in illicit funds and training of over 70 local agents.

His work aligned Binance more closely with U.S. and international enforcement norms, at a time when many exchanges were struggling to meet even basic compliance expectations.

CRYPTO EXCHANGE | #Binance Sends Top Financial Crime Experts to Conduct Inaugural Law Enforcement Training in Africa

Nils Andersen Röed and Jarek Jakubcek, who formerly worked as investigators at Europol, were recently in South Africa and Nigeria to train local regulators… pic.twitter.com/7uIUBrAtSF

— BitKE (@BitcoinKE) December 4, 2023

Detained in Nigeria, Released Amid Global Pressure

In 2024, Gambaryan’s tenure took a dramatic turn when he was detained by Nigerian authorities amid a crackdown on crypto platforms. Despite having no decision-making authority on Binance’s business operations in the country, Gambaryan was held for eight months before his release.

His detention drew sharp criticism from U.S. lawmakers, with bipartisan pressure mounting for his release. He was ultimately freed on humanitarian grounds and later cleared of all charges. Nigeria, however, has continued pursuing regulatory actions against Binance.

REGULATION | Nigeria Sues #Binance for $81.5 Billion in Economic Losses and Unpaid Taxes

The Federal Inland Revenue Service (FIRS) claims that Binance has a ‘significant economic presence’ in Nigeria.https://t.co/1VQGMEuClQ @FIRSNigeria @binance @BinanceAfrica pic.twitter.com/VaSjVCjnlu

— BitKE (@BitcoinKE) February 20, 2025

A Familiar Name in African Crypto Circles

Before his time at Binance made global headlines, Gambaryan was already known in African crypto communities for his law enforcement-first approach to digital assets. His work regularly featured on BitKE which consistently tracks blockchain enforcement trends across Africa.

Tigran was often cited for his proactive outreach to African regulators, including training sessions with the EFCC in Nigeria and capacity-building engagements in East Africa. As BitKE reported, he was one of the few Western crypto executives “actively trying to close the trust gap between centralized exchanges and African regulators.”

REGULATION | Binance Reportedly Addressed Over 600 Information Requests from Nigerian Law Enforcement Agencies in the Last 4 Years

Between June 2020 and February 2024, #Binance reportedly addressed 626 information requests from Nigerian law enforcement agencies, with an… pic.twitter.com/NSsbLSUz6u

— BitKE (@BitcoinKE) March 30, 2024

That legacy continues, despite the geopolitical challenges he later faced on the continent.

What’s Next?

Gambaryan hasn’t disclosed his next role, but hinted at a return to public service or joining a mission-driven institution in the private sector.

“I’ve done all I can at Binance,” he wrote. “It’s time to refocus on new challenges.”

 

His departure comes at a time when crypto’s overlap with national security and traditional finance is intensifying. With his deep experience navigating both the enforcement world and the crypto sector, Gambaryan remains one of the most uniquely positioned figures in the ongoing battle against financial crime in digital assets.

REGULATION | Nigerian Financial Regulator, @officialEFCC, Intensifies Crackdown Against Unlicensed Crypto Platforms with Latest Afriq Arbitrage Suit

The firm was operating in the specialized field of financial services without holding a valid licensehttps://t.co/CWnrvLOFqB pic.twitter.com/SyyJRA5scs

— BitKE (@BitcoinKE) April 24, 2025

TL;DR

Tigran Gambaryan, ex-IRS agent and Binance’s global investigations lead, has left the company after building its 100-person financial crime unit.

He was detained in Nigeria for 8 months before being released under U.S. pressure.

Gambaryan is widely respected in African crypto compliance circles, having trained enforcement bodies like Nigeria’s EFCC.

He plans to continue working at the intersection of law enforcement and digital assets — in public service or with a mission-driven private entity.

 

 

 

Follow us on X  for the latest posts and updates

Join and interact with our Telegram community

________________________________________

________________________________________

In late April 2025, over 3,500 BTC – worth $330 million – vanished from a single wallet. There was no exploit, no smart contract bug, no ransomware. Just an elderly U.S. citizen, manipulated by someone who knew how to talk.

This wasn’t a hack. It was social engineering.

Blockchain sleuth, ZachXBT, was the first to raise the alarm. On April 28, he spotted a suspicious outbound transfer of 3,520 BTC from a wallet dormant since 2017.

Investigations revealed a devastating truth: scammers had spent weeks (if not months) impersonating trusted entities, ultimately coercing the victim — likely over the phone — into surrendering wallet credentials.

Once inside, the attackers didn’t waste time. Funds were rapidly laundered across at least six instant exchanges, swapped into Monero (XMR), and peeled through hundreds of wallets to muddy the trail. XMR surged briefly by 50% on the back of the sudden demand.

 

From Peel Chains to Privacy Coins: How the Funds Were Laundered

The attackers employed a ‘peel chain’ – a method of breaking up large amounts of BTC into many smaller transactions – to obscure the trail. Key tactics included:

Instant swaps across DEXs and CEXs

Cross-chain bridging to Ethereum and DeFi platforms

Use of mixers and OTC desks with pre-registered burner accounts

Conversion to Monero (XMR) to eliminate traceability

Blockchain intel firm Hacken tracked around $284M worth of BTC at one point — but following rounds of redistribution, only about $60M could be traced. Binance and ZachXBT were able to freeze $7M. The rest is gone, likely for good.

Two individuals – aliases “X” (reportedly UK-based and of Somali origin) and “W0rk” – have been named as suspects. Both have since wiped their online footprints.

 

What Is Social Engineering, Really?

Unlike traditional hacks that target code, social engineering attacks target people. They exploit human psychology – trust, fear, curiosity, and urgency – to extract sensitive information.

Common tactics in crypto include:

Fake authority: Impersonating support staff or law enforcement

Urgency traps: Claiming accounts are at risk to prompt fast action

Phantom rewards: Luring with fake airdrops or giveaways

Herd tactics: Claiming “everyone else” is profiting

Pretexting: Offering fake jobs or investment opportunities

Did you know? Crypto “drainer-as-a-service” (DaaS) kits now offer full phishing toolkits – fake DEX sites, wallet prompts, and Telegram bots – requiring zero technical skill.

Why Crypto Is Especially Vulnerable

Social engineering is old. But crypto makes it exponentially more dangerous:

Irreversible transactions: Once sent, crypto is gone. No chargebacks.

Pseudonymity: Scammers easily pose as anyone — a mod, a dev, even a friend.

High-value targets: Whales, NFT collectors, and founders are especially at risk.

Community trust: Open platforms like Discord and Telegram are ripe for abuse.

In crypto, all it takes is a single click or signature to lose everything.

Not Just This Case: 3 Major Social Engineering Attacks in Crypto

Ronin Network ($600M, 2022) The Lazarus Group sent a fake job offer PDF to an engineer. It installed spyware and compromised validator nodes.

BAYC Discord Phishing (2022) Scammers posed as mods and posted fake mint links. Victims connected wallets and had their NFTs drained.

Fake LinkedIn Job Offers Lazarus actors again used LinkedIn to send job offers with malicious PDFs. Blockchain engineers were specifically targeted.

Most of these scams occur during peak excitement – major drops, announcements, or token launches – when vigilance is lowest.

How to Defend Against Social Engineering in Crypto

Protecting yourself starts with education and a few basic security principles:

Verify everything: Always double-check URLs, user handles, and contact sources.

Use hardware wallets: Store large sums offline, away from browser threats.

Enable 2FA: Lock down your accounts with multi-factor authentication.

Think before you click: Scammers prey on haste. Slow down, verify, ask around.

Stay updated: Follow trusted security researchers like ZachXBT and subscribe to scam alert channels.

Special Risk for Elderly Crypto Holders – and What Can Be Done

In this case, the victim was reportedly an older American – a growing demographic in crypto. They often lack cybersecurity literacy, making them ideal targets.

Support options include:

Law enforcement and cybercrime reporting tools

Legal aid and financial fraud helplines

Blockchain analytics firms that trace stolen assets

Exchange support for freezing or flagging transactions

Nonprofits like AARP offering scam recovery assistance

Most importantly, elder crypto users should be encouraged to involve tech-savvy family or custodial services for large holdings.

TL;DR – Social Engineering Is Crypto’s Silent Killer

$330M in BTC stolen in April 2025 – no code exploit, just psychological manipulation.

Attackers laundered funds through peel chains, instant swaps, and privacy coins.

Crypto users are especially at risk due to irreversible transactions and open community culture.

Education, verification, and hardware wallets remain the best defense.

Scammers aren’t just targeting systems — they’re targeting you.

 

Remember: It doesn’t matter how secure your wallet is – if you can be tricked into opening the door.

 

 

 

Follow us on X  for the latest posts and updates

Join and interact with our Telegram community

__________________________________________

Global payments platform, Sentz, has officially launched ‘Sentz Earn,’ a feature that allows Nigerian users to earn up to 8% annually on their eUSD stablecoin balances – without giving up control of their funds. This self-custodial solution is aimed at everyday users looking to preserve and grow their wealth amid Nigeria’s inflationary environment and foreign exchange uncertainty.

The move comes as stablecoins continue gaining ground across Africa, where demand for dollar-based financial instruments is rising sharply. According to recent coverage by BitKE, stablecoins like USDT and USDC are becoming a core part of local fintech infrastructure, with millions of users turning to them for remittances, savings, and cross-border commerce.

 

While traditional platforms often force users to lock funds to earn interest, Sentz Earn offers daily-compounding rewards with full liquidity – meaning users can withdraw or send their funds at any time.

“Regular financial systems often make users choose between growth and control,” said Sara Drakeley, CEO of Sentz.

“Sentz Earn represents a third option — one where users can watch their dollar balance grow while retaining full ownership of their funds.”

 

Unlike many wallets where USDT or USDC sit idle, Sentz Earn allows stablecoin balances to grow—by up to 8% annually. Nigerian customers can fund their wallets through bank transfers or crypto, with no restrictions on withdrawals.

During its beta phase, the feature gained notable traction. Early adopters praised both the simplicity of the process and the reliability of daily earnings.

REPORT | Almost Half of All $USDT Transactions in 2024 Originated from Emerging Markets, Says Q4 2024 @Tether_to Report

Wallet data reveals that 18.7 million accounts hold balances of less than $1, while another 31.5 million hold between $1 and $1,000https://t.co/dWLTEYuXzN pic.twitter.com/UbRRpeLRt7

— BitKE (@BitcoinKE) December 12, 2024

Digital marketer, Isaac Olukayode, shared his experience:

“The process is seamless. I opted in to Earn on my Sentz app, and rewards started showing up the same day. No need to lock funds or move to a different wallet. I see my balance grow daily – and I can access it anytime.”

 

In the app, users can fund their wallet with Naira, USDT, or USDC. These are automatically converted to eUSD – Sentz’s native stablecoin pegged to the U.S. dollar and backed by a basket of stablecoins like USDT and USDC. This structure helps mitigate depegging risk, a growing concern in the stablecoin space globally.

“After countless conversations with Nigerian users, one message stood out – people want their money to work harder without giving up control,” said Mercy Emmanuel, Nigerian Country Manager at Sentz.

“That’s exactly what Sentz Earn delivers.”

 

Sentz Earn rewards become claimable once they hit $0.01 and are updated in real-time in the app. With no lockup periods, users can freely exit the program or transfer their earnings anytime – a sharp contrast to typical DeFi staking models or rigid traditional savings products.

As BitKE has consistently reported, Nigeria is leading the continent in stablecoin usage, driven by economic pressure and increasing smartphone access. Fintechs like Sentz are now tapping into this wave of digital dollar adoption, building tools that merge the stability of U.S. currency with the flexibility of decentralized finance.

STABLECOINS | The Nigeria Stablecoin Boom – $USDT Adoption Surges as Crypto Landscape Evolves

The data shows that the USDT/NGN pair is now among the most actively traded pairs on centralized exchanges in Nigeria, overtaking #Bitcoin.https://t.co/EVCwJk98qz @Tether_to pic.twitter.com/RAggRIUsMh

— BitKE (@BitcoinKE) May 6, 2025

Sentz Earn is now available to all Nigerian users via the Sentz mobile app on Android and iOS.

 

__________

About Sentz

Sentz Global is redefining the future of global payments by offering instant, affordable, and secure transactions across borders.

As a free payments app, Sentz enables users in over 180 countries – including hundreds of thousands in Nigeria – to send, receive, and earn in stablecoins, all through a self-custodial platform that puts users in control.

With its focus on speed, accessibility, and privacy, Sentz is helping build a more inclusive and resilient financial future.

 

Learn more at Sentz.com.

 

 

 

Follow us on X  for the latest posts and updates

Join and interact with our Telegram community

__________________________________________

Pan-African venture capital firm 4DX Ventures, known for backing early-stage tech giants like Flutterwave, Andela, and Yoco, has appointed two heavyweight advisors to its leadership circle: Mimi Alemayehou and Kurankye Sekyi-Otu.

In a press release shared with BitKE, the move signals 4DX’s intent to deepen its global network just as African startups increasingly look beyond the continent for capital, talent, and growth.

With over $200 million in assets under management and a track record of supporting high-growth companies in fintech, e-commerce, embedded finance, and more, 4DX has emerged as a key player in Africa’s digital transformation. The firm recently welcomed the International Finance Corporation (IFC) as a limited partner, underscoring its appeal to global institutional investors.

[WATCH] What Do VCs Actually Do? – A Chat with BTV, an Early Investor into Chipper Cash https://t.co/QCpksO2nZW @btv_vc @chippercashapp

— BitKE (@BitcoinKE) February 25, 2022

Why this matters for Africa’s tech (and crypto) scene

As African tech companies – particularly those in crypto and financial infrastructure – begin to scale across borders, attracting experienced operators and strategists is critical. Alemayehou, who has held senior roles at MasterCard, Blackstone, and OPIC, brings a rare blend of development finance and corporate firepower. Sekyi-Otu, with deep roots in alternative investments and asset management, is poised to help African startups navigate capital markets and scale sustainably.

 

Their appointments come at a time when African founders are looking to tap into new global rails — from blockchain infrastructure to tokenized assets and cross-border liquidity. Strategic advisors who understand both frontier markets and global capital flows can be game-changers.

“As more African technology companies scale globally, we’re excited to bring on world-class advisors with truly global perspectives,” said Walter Baddoo, Co-Founder and Managing Partner at 4DX.

“Mimi and Kurankye are hands-on leaders who will help us support founders, deepen institutional relationships, and sharpen our long-term strategy.”

REPORT | ~90% of Investors Judge #African Startups By the Quality of Their Reporting, Says Latest 2024 PR Report

Over 70% of investors surveyed would not consider follow-on investments if portfolio companies consistently failed to update them.https://t.co/7t2I4zsXcu @Wimbart pic.twitter.com/Os0ik6yWnW

— BitKE (@BitcoinKE) October 19, 2024

Africa’s future is cross-border, capital-intensive, and increasingly crypto-aware

From embedded finance in Nairobi to decentralized payment rails in Lagos, African tech is entering a new phase – one that requires nuanced expertise in regulation, infrastructure, and capital formation. Firms like 4DX, with strong on-the-ground presence in Accra, Nairobi, Cairo, and active engagement in Francophone and Southern Africa, are positioning themselves as the connective tissue between African founders and global capital markets.

In the African crypto investment space, 4DX Ventures was part of investors that saw NestCoin, a Nigerian Web3 startup, raise $1.9 million to scale Onboard, a self-custody wallet for the African market following a lack of success in its previous products, Breach, a Web3 media platform, and Brunch, a crypto-based group messaging tool, as well as the lose of millions in cash and stablecoins following the collapse of FTX, a major investor in Nestcoin in early 2022.

FUNDING | #WEB3 IN AFRICA

Nigerian Web3 Startup, NestCoin, Raises $1.9 Million to Scale Onboard, a Self-Custody Wallet, Across Africa

“Onboard was part of 15 global brands that took part in the launch of Base [Ethereum L2 by Coinbase], including Coca-Cola, Atari, Open Sea… pic.twitter.com/SAOFXbvpXt

— BitKE (@BitcoinKE) September 8, 2023

4DX’s value creation platform, 4DX Labs, has already supported landmark transactions – including the MaxAB–Wasoko merger, the largest in African tech history. The firm’s new senior advisors are expected to further elevate its impact.

“This role is an exciting new chapter in my dedication to championing growth and innovation across Africa,” said Alemayehou.

“4DX has been catalytic in Africa’s tech ecosystem — I look forward to helping deepen partnerships and scale innovation across sectors.”

 

“I’m committed to activating a global network of partners to support 4DX’s continued growth,” added Sekyi-Otu, pointing to the growing need for operational depth and strategic guidance in today’s rapidly evolving African markets.

 

TL;DR: What This Means

Global muscle for African scale: New advisors bring policy, capital markets, and strategy experience to African tech.

More cross-border opportunity: Expect tighter global ties for African startups – including in fintech, crypto, and creator economies.

Stronger institutional confidence: With backing from the IFC and elite LPs, 4DX is doubling down on Africa’s digital transformation.

 

As African startups move beyond borders and into Web3, AI, and alternative finance, 4DX Ventures is making sure its bench is just as bold as the entrepreneurs it backs.

OPINION | Why Company Building is More Important Than Product Building for VC backable Ventures in Africa

Company building is the process of establishing a scalable and sustainable business and goes far beyond just creating and selling a product.https://t.co/NHmB7JMmuB pic.twitter.com/mxSmIfrPoi

— BitKE (@BitcoinKE) May 28, 2025

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

___________________________________________

Uber CEO, Dara Khosrowshahi, says the ride-sharing giant is currently in the “study phase” of exploring stablecoins as a way to reduce the costs associated with moving money internationally.

 

Speaking on stage at the Bloomberg Tech Summit in San Francisco on June 5 2025, Khosrowshahi said Uber is “definitely going to take a look” at stablecoins.

“We’re still in the study phase, I’d say, but stablecoin is one of the more interesting instantiations of crypto that, to me, has a practical benefit beyond just being a store of value,” he said.

“Obviously, you can have your opinions on Bitcoin – it’s a proven commodity – and people have differing views on where it’s headed.”

REPORT | Retail and e-Commerce Industry Has the Highest Number of Companies Accepting Crypto Payments, Study Reveals

The study compiled a list of more than 300 major companies, which are known to accept cryptocurrency methods, and categorized them into sectors to discover which… pic.twitter.com/rRfIAOfkjC

— BitKE (@BitcoinKE) October 30, 2023

Uber CEO Dara Khosrowshahi said the company is in the early stages of evaluating stablecoin use.

Stablecoins are a type of cryptocurrency designed to maintain parity with traditional fiat currencies – most commonly the U.S. dollar – and are typically backed by reserves of cash and short-term government bonds.

EXPLAINER | How to Send Stablecoins From One Blockchain to Another Without Losing Your Money

Think about this:

If you have your money in $USDT on #Ethereum Blockchain and you wish to do a transaction on #TRON Blockchain, sending your money becomes a problem.

Learn how to… pic.twitter.com/VidMuzU7Pl

— BitKE (@BitcoinKE) March 30, 2025

Khosrowshahi said stablecoins are “super interesting to us,” especially as a potential tool for cross-border payments.

“I think stablecoins are quite promising, especially for global companies moving money internationally. They could offer a mechanism for reducing the costs of those transactions,” he explained.

Growing Interest in Stablecoins

Uber isn’t alone. Interest in stablecoins has been rising across the corporate and financial sectors.

In May 2025, Stripe Co-Founder and President, John Collison, revealed during a Bloomberg interview that the payments firm had entered early discussions with banks about potential stablecoin integrations.

Meanwhile, a May 2025 report from digital assets platform, Fireblocks, found that 90% of institutional players surveyed are actively exploring the use of stablecoins in their operations.

90% Adoption and $3 Trillion Moved: The New Era of Stablecoin Infrastructure

90% of surveyed firms are actively engaging with #stablecoins, indicating a significant shift from pilot programs to full-scale implementations.https://t.co/UM6stPwh5j @FireblocksHQ pic.twitter.com/EG8TsICoB4

— BitKE (@BitcoinKE) May 17, 2025

Governments are also showing interest. In April 2025, a Russian Finance Ministry official floated the idea of launching a government-backed stablecoin, while in the UAE, three major Abu Dhabi institutions teamed up that same month to develop a Dirham-pegged stablecoin.

According to Citigroup, the market cap of U.S. dollar-denominated stablecoins surpassed $230 billion in April 2025 – a 54% increase year-on-year – with Tether (USDT) and USDC accounting for 90% of the market share.

LIST | Top 5 Major Stablecoin Milestones in 2024

In this piece, we highlight the top five major stablecoin milestones between January and December 2024, offering a closer look at their rising influence and potential to reshape the financial landscape.https://t.co/z0bgZhXfJ6 pic.twitter.com/9hkZmCDlq0

— BitKE (@BitcoinKE) January 2, 2025

In terms of transaction volume, stablecoins reached $27.6 trillion in 2024 – exceeding the combined transaction volume of VISA and MasterCard by 7.7%. Data from Artemis further shows that between January 2023 – February 2025, $94.2 billion worth of stablecoin transactions were settled.

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

 

 

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

___________________________________________

___________________________________________

Circle Internet Financial, the issuer of the $USDC stablecoin, made a remarkable debut on the New York Stock Exchange (NYSE) on June 5 2025. Trading under the ticker symbol CRCL, Circle’s shares opened at $69 and soared to a closing price of $83.23, marking a 168% increase from its IPO price of $31. This surge valued the company at approximately $18.4 billion and raised around $1.1 billion through the sale of 34 million shares.

The IPO attracted significant interest from major financial institutions.

Goldman Sachs

JPMorgan, and

Citigroup

led the underwriting process, while investment firms like:

BlackRock and

ARK Investment Management

expressed substantial interest, with ARK reportedly aiming to purchase up to $150 million worth of shares.

REPORT | Adoption of Crypto Assets Has Outpaced Growth for Mobile Phones and the Internet, Says Latest BlackRock Report

Crypto reached 300 million users faster than the internet and mobile phones since their inceptions.https://t.co/mADzDAq8Vw @BlackRock @BlackRock_News pic.twitter.com/g6r2QDZuN2

— BitKE (@BitcoinKE) January 17, 2025

Circle’s strong financial performance underpins its successful public offering. In the first quarter of 2025, the company reported a net income of $64.79 million on revenues of $578.57 million. USDC, Circle’s flagship stablecoin, has facilitated over $25 trillion in transactions since its inception in 2018, with $6 trillion processed in Q1 2025 alone.

MARKET ANALYSIS | Circle’s Frothy Relationship with Coinbase and Why the $USDC Stablecoin Issuer Partnered with #Binance

Circle spent over $1 billion on distribution in 2024, most of which went to Coinbase. https://t.co/yclq31k3kX @circle @coinbase @binance pic.twitter.com/YQ61FhXNpO

— BitKE (@BitcoinKE) May 27, 2025

Expanding USDC’s Global Footprint

Beyond its financial achievements, Circle has been actively expanding USDC’s global presence.

In December 2024, Circle partnered with Binance to enhance USDC adoption across Binance’s ecosystem, making the stablecoin more accessible to Binance’s 240 million users for trading, saving, and payments.

PARTNERSHIP | @circle Partners with @binance to Accelerate Global $USDC Adoption Across the Binance Ecosystem

Through the partnership, Binance will make USDC more extensively available across their full suite of products and serviceshttps://t.co/7p7xJvkp0P pic.twitter.com/SUZiww03pw

— BitKE (@BitcoinKE) December 13, 2024

Circle has also been working to increase USDC’s availability on various blockchain networks. In April 2024, the company announced native USDC support on zkSync, a leading Layer 2 rollup, eliminating the need for bridging and simplifying transactions for developers and users.

Furthermore, Circle has achieved regulatory milestones, becoming the first stablecoin issuer to gain approval for USDC’s use in Japan. Through a partnership with SBI Holdings, $USDC was launched in Japan in March 2025, marking a significant step in integrating stablecoins into traditional financial systems.

Circle is also focusing on financial inclusion in Africa. The company has highlighted several African fintechs leveraging USDC to provide better financial services to users across the continent.

These fintechs utilize USDC for cross-border payments, enabling cost-effective and swift transactions, and serving as a reliable bridge between traditional finance and the emerging digital asset landscape.

In addition, the recent debut of the Circle Paymnents Network, with key global fintechs being among the intial users, demonstrates the company’s mission to have a global footprint.

INTRODUCING | The @circle Payments Network Mainnet Is Now Live!#Nigeria is one of the 12 regions, and the only one in Africa, that Circle says it is exploring access expansion in 2025.https://t.co/34j6tj3zXr pic.twitter.com/u2nZSjRgfU

— BitKE (@BitcoinKE) May 22, 2025

These developments underscore Circle’s commitment to expanding USDC’s utility and accessibility worldwide. With a successful IPO, strategic partnerships, and regulatory advancements, Circle is well-positioned to play a pivotal role in the evolving landscape of digital finance.

 

 

 

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

_____________________________________

A new Central Bank of Kenya (CBK) survey has revealed that most Kenyan banks are ready to offer cryptocurrency-related services, reflecting a shift in the country’s financial sector amid growing interest in digital assets.

According to the CBK, feedback collected from banks shows a willingness to engage with crypto offerings, including partnerships with Virtual Asset Service Providers (VASPs), as long as there is a clear legal and regulatory framework in place.

 

“There was a general willingness by most banks to partner with VASPs in offering crypto-related services, provided there exists a legal and regulatory framework,” the CBK said in the survey findings.

RECAP: BitKE Hosts Regulatory Experts and Industry Stakeholders to Discuss Crypto Policy & Regulation in Kenya

Here is a detailed recap of the discussion which provided great insights into crypto assets regulation in Kenya and how startups in the space can position… pic.twitter.com/Hn5vzTgPh8

— BitKE (@BitcoinKE) May 24, 2023

This development comes even as crypto trading remains largely unregulated in Kenya. The growing appetite among lenders to support digital asset services reflects a broader global trend, where traditional financial institutions are beginning to integrate crypto services due to customer demand.

To address the lack of oversight, the CBK and the Capital Markets Authority (CMA) have established a joint technical working group tasked with assessing the extent of crypto adoption and recommending a regulatory framework.

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

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

This effort follows rising use of crypto assets among Kenyan companies, particularly for cross-border payments. Businesses are increasingly relying on stablecoins such as Tether’s $USDT) and Circle’s $USDC to settle transactions with overseas suppliers, a response to the persistent shortage of U.S dollars and the weakening of the Kenyan shilling (KES).

REPORT | The Kenya Shilling Devaluation Yields Over $100 Million Profits for Kenyan Regional Banks in H1 2023 – Almost 4x Higher YoY

Data reveals that the increase in profits from the currency slump was almost four times higher compared to the gains of ~$27.35 million… pic.twitter.com/pS2PfMNg6m

— BitKE (@BitcoinKE) September 2, 2023

The shift towards digital currencies has also caught the attention of the Kenya Revenue Authority (KRA), which reportedly collected KES 10 billion (~$77 million) in taxes from cryptocurrency users in 2023 – the first such reported revenue from the sector. The tax was levied on gains realized from crypto transactions.

TAXATION | The Kenya Revenue Authority Collected $77.5 Million in Crypto Taxes in the Last Financial Year

“If we are able to talk and agree with the central bank . . . we will be able to net KES 60 billion [~$465 million].” – Chairman, @KRACarehttps://t.co/pzHfEeYN8u pic.twitter.com/OwVMRPRTO4

— BitKE (@BitcoinKE) November 6, 2024

Although Kenya does not currently have a legal framework to regulate cryptocurrencies, the CBK’s findings highlight the urgent need to address the regulatory vacuum. The technical working group is expected to propose a path forward for licensing and oversight of crypto activity.

BitKE held a first of its kind #BitcoinPizzaDay meetup at its offices in Nairobi yesterday.

The event brought together a mix of regulators and innovators from various #Web3 sectors. Those in attendance included:

* Central bank of kenya * Kenya bankers association * Law… pic.twitter.com/r3MsctiAYj

— BitKE (@BitcoinKE) May 23, 2023

The CBK has previously warned the public about the risks associated with digital currencies, including fraud, volatility, and the lack of investor protections. However, the growing use of crypto in payments and the formal interest from banks now suggest that Kenya’s financial authorities may be preparing for a more structured approach.

NONSENSE!!!

Central Bank Governor Warns Kenyans to Avoid P2P Crypto Transactions While Banks Risk Licenses Getting Revokedhttps://t.co/6BaGcWlVzf

— STEPHEN-HIGH (@stephenhycinth) March 29, 2022

 

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

_____________________________________

_____________________________________

Kredete, a Nigerian fintech startup helping African immigrants in the United States build credit using stablecoin-powered payments, has officially launched Africa’s first stablecoin-backed credit card.

Founded in 2023 by Adeola Adedewe, Kredete enables users to send money to over 40 countries with low fees, while each transaction helps improve their credit score in their country of residence. By leveraging blockchain technology, the startup offers a seamless and affordable way for African immigrants to establish a financial foundation in their new homes.

As reported by BitKE, Kredete raised $2.25 million in seed funding in September 2023 and participated in the third cohort of VISA’s Africa Fintech Accelerator.

FUNDING | Nigerian Web3 Fintech, Kredete, Raises $2.25 Million After Crossing 300,000 Users and Over $100 Million in Transactions

Kredete leverages blockchain technology to enable African immigrants to build credit scores and send money home with low fees.

On average, users… pic.twitter.com/1xfpASRhqX

— BitKE (@BitcoinKE) September 4, 2024

Since launching in 2023, the startup has seen rapid growth, with its user base surpassing 300,000 and transaction volumes exceeding $100 million. On average, users have seen their credit scores increase by 23 points within six months of using the platform, highlighting its impact on financial inclusion.

The company has now debuted its stablecoin-backed credit card in partnership with VISA, Stellar, and Rain. The product gives users across more than 40 African countries access to stable digital dollar spending – online and in physical stores – in over 100 countries worldwide.

LIST | 2 Out of 19 Startups Announced for VISA Africa Fintech Accelerator Cohort 3 are Blockchain-Based

The startups are drawn from 21 African countries and from diverse sub-sectors.https://t.co/RjazRXPcAq @VisaNews pic.twitter.com/yp6xW3xiYv

— BitKE (@BitcoinKE) November 22, 2024

The card is linked directly to a user’s digital wallet and settles transactions in $USDC (USD Coin) with real-time foreign exchange conversion at the point of purchase. This enables users to spend their stablecoins instantly and seamlessly using a globally accepted VISA card.

 

“Access to money shouldn’t stop at your country’s borders,” said Adedewe.

“We’ve built a system that lets Africans store value in digital dollars and use those funds however and wherever they choose – instantly.”

LIST | Circle Highlights 7 African Fintechs Leveraging the USDC Stablecoin to Provide Better Financial Services to African Users

According to Circle, below is a list of African fintechs spearheading the usage of $USDC across the African continent.https://t.co/GjCGkTSWnv… pic.twitter.com/PgRepN97Pi

— BitKE (@BitcoinKE) December 18, 2023

According to previous reporting by BitKE, Kredete is part of a growing trend in Africa where stablecoin adoption is rising in response to local currency volatility and limited access to traditional banking infrastructure. By combining DeFi rails with real-world utility, Kredete’s solution appeals to both immigrants seeking better credit outcomes and users in African markets looking for more reliable payment options.

LIST | Top 5 Major Stablecoin Milestones in 2024

In this piece, we highlight the top five major stablecoin milestones between January and December 2024, offering a closer look at their rising influence and potential to reshape the financial landscape.https://t.co/z0bgZhXfJ6 pic.twitter.com/9hkZmCDlq0

— BitKE (@BitcoinKE) January 2, 2025

The card launch marks a key milestone in the startup’s mission to make financial tools more accessible across the African continent and diaspora communities.

 

 

 

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

_________________________________________

_________________________________________

Pan-African payment fintech, Fincra, has just landed a key regulatory win in East Africa – and it’s one more node in its crypto-aligned vision for frictionless, cross-border money movement across the continent.

Fincra, a rising star in Africa’s digital payments infrastructure, has secured a Payment System Provider (PSP) license from the Bank of Tanzania, gaining the regulatory greenlight to offer local payment services in one of East Africa’s fastest-growing fintech markets.

 

The PSP license allows Fincra to provide secure collections in Tanzanian Shillings, facilitate domestic payouts, and enable international payments — all via APIs that can serve everything from banks and businesses to crypto exchanges and Web3 platforms looking for local settlement rails.

“With this new license, we’re now able to offer secure, scalable, and compliant payment services to businesses operating in East Africa,” said Wole Ayodele, CEO of Fincra.

We’re very excited to have received our license to operate in Tanzania. I thank God for continuing to show us favor on this journey of love and integration. East Africa, we’re open for business. https://t.co/pteQ4A27lu

— Wole Ayodele (@AyowoleOA) June 3, 2025

From Lagos to Dar es Salaam: Fincra’s Quiet Expansion

Founded with the ambition to become the payment infrastructure backbone for a borderless Africa, Fincra has made steady moves across the continent having already processed over $10 billion in transactions volume.

The fintech is already licensed in Nigeria as an IMTO (International Money Transfer Operator) and a PSSP (Payment Service Solution Provider), and operates as a Third Party Payments Provider (TPPP) in South Africa.

REGULATION | Nigerian Fintech, Fincra, Secures South African Licence, Taps Ex-Binance Africa Director to Power Payments Across Africa

Since 2023, @FincraHQ has processed over $10 billion in transactions, serving clients including in #stablecoins https://t.co/imUDWLQROE pic.twitter.com/M7OpnjR3ii

— BitKE (@BitcoinKE) May 31, 2025

This latest regulatory approval in Tanzania gives Fincra a strategic position in East Africa – complementing its presence in West and Southern Africa.

“Tanzania’s growing digital economy and national financial inclusion agenda make it a natural fit,” said Uyo Abuh, Senior Marketing and Communications Lead at Fincra.

 

The Bank of Tanzania has signaled its commitment to modernizing payments through its National Payment Systems Vision 2025, aiming to expand access, reduce transaction costs, and support innovation. Over 37 million Tanzanians now use mobile money platforms like M-PESA, Tigo Pesa, and Airtel Money, making the country a mobile-first finance frontier.

 

The Big Picture: Bypassing Legacy Systems with API-First Fintech

Fincra’s approach is API-first, crypto-aligned, and infrastructure-focused.

Instead of relying on costly correspondent banking systems – which often route African cross-border payments through New York or London – Fincra operates its own internal liquidity pools, enabling faster settlements and lower fees for regional transactions.

For example, a South African school can now accept tuition from a Nigerian student in Naira, and receive settlement in ZAR, all via Fincra’s infrastructure – no SWIFT, no middlemen.

This model resonates with a growing trend in African fintech: replacing the traditional banking stack with programmable money infrastructure that integrates fiat and crypto-native use cases. Fincra’s solution isn’t tokenized (yet), but its architecture supports the same kind of borderless, real-time payments that crypto networks like USDT or USDC are pushing for.

“payments giant @theflutterwave – valued at $3bn – showcased their $USDC merchant settlement solution built on #Hedera…” LIST | Here Are the 28 Leading African Fintechs Partnering with Circle in New Stablecoin Network – https://t.co/Ti6GQHk8nq

— Apollo (@Apollo19681011) April 25, 2025

According to the World Bank, sending $200 across African borders still costs nearly 9% on average, largely due to these legacy payment pathways. Fincra, along with players like Chipper Cash and MFS Africa, aims to cut that number drastically.

 

Why It Matters for Crypto and Global Fintech

While Fincra doesn’t issue crypto, its infrastructure could become a key fiat on/off-ramp across multiple markets – something crucial for DeFi platforms, exchanges, and wallet providers looking to operate compliantly across Africa.

REPORT | Money Laundering Through Cryptocurrencies Fell Substantially in 2023, Fiat Off-Ramping ‘Important in AML,’ Says Chainalysis

Chainalysis noted that fiat off-ramping services are important because they’re where criminals can convert their crypto into cash – ‘the… pic.twitter.com/zqXpSk2PDD

— BitKE (@BitcoinKE) February 24, 2024

The real value?

Regulatory alignment.

 

In markets like Nigeria and Tanzania, where crypto is either restricted or carefully watched, working with licensed players like Fincra can offer a safe bridge between fiat rails and blockchain protocols.

REPORT | Tanzania Witnessed a 250% Increase in Crypto Fraud, Reveals a H1 2023 Statistic

Edited ID Cards accounted for 41% of all fraud cases in Tanzania , involving manipulated legitimate documents while Nigeria reported a concerning 61% of fraud instances attributed to… pic.twitter.com/RkLLIyll6b

— BitKE (@BitcoinKE) August 21, 2023

Fincra’s expansion is a signal to Web3 builders: if you want to serve African markets, you need to go local – and licensed.

 

TL;DR

Fincra has secured a PSP license in Tanzania, expanding its regulated footprint in East Africa.

The fintech is now licensed in Nigeria, South Africa, and Tanzania, offering cross-border API-based payments for businesses.

This positions Fincra as a critical fiat infrastructure layer for both traditional and crypto fintechs on the continent.

As Africa pushes for financial inclusion and real-time payment systems, companies like Fincra are creating on-ramps for crypto-native solutions without touching tokens – yet.

 

 

 

Follow us on X for latest posts and updates

Join and interact with our Telegram community

_________________________________________

Latin American payments company, dLocal Ltd., is set to acquire AZA Finance, a pan-African payments provider. The deal is expected to significantly bolster dLocal’s operations and reach across African markets.

According to Bloomberg, AZA Finance is being valued at approximately $150 million.

The planned acquisition follows less than five months after the companies first partnered. Sources familiar with the matter say the transaction is still subject to regulatory approval.

PARTNERSHIP | dLocal and AZA Finance (Formerly BitPesa) Forge Strategic Partnership to Expand Footprint in Africa

AZA Finance’s foray into cryptocurrency has enabled seamless crypto-to-fiat conversions, providing businesses and individuals with more flexibility in cross-border… pic.twitter.com/XaUp0oYAtY

— BitKE (@BitcoinKE) March 22, 2025

This move is aimed at scaling dLocal’s footprint in Africa, boosting its cross-border transaction volumes and remittance capabilities. The integration is also expected to enhance the customer experience for its existing client base across the region.

 

“By combining dLocal and AZA Finance, we are well-positioned to offer innovative, efficient, and localised payment solutions to help businesses and individuals prosper in this rapidly evolving region,” said Carlos Menendez, dLocal’s Chief Operating Officer, in a statement.

[WATCH] FTX Partners with AZA Finance, Formerly BitPesa, to Expand Crypto and Web3 in Africahttps://t.co/kO9QrqsxXD @FTX_Official @SBF_FTX #Africa

— BitKE (@BitcoinKE) March 17, 2022

AZA Finance, formerly known as BitPesa, is a Kenyan-based fintech company specializing in cross-border payments and foreign exchange services across Africa. The company has been instrumental in integrating cryptocurrency solutions into the African financial ecosystem.

[TECH] [PODCAST] We Use Digital Currencies for 7% of Transactions, Says CEO, AZA Finance, Formerly BitPesa: In this podcast, Elizabeth Rossiello, CEO, AZA Finance, formerly BitPesa, talks early beginnings in.. https://t.co/p2k3jmcNyx via @BitcoinKE

— Top Kenyan Blogs (@Blogs_Kenya) November 24, 2020

The acquisition offers several strategic benefits to dLocal, including improved treasury operations, over-the-counter FX capabilities, expanded stablecoin support, and greater payout efficiency. It also represents dLocal’s first acquisition outside Latin America, and its largest since buying PrimeiroPay for about $40 million in 2021.

dLocal plans to integrate AZA Finance’s team, leveraging their local market expertise to support further growth and operational scalability. The acquisition caps off a strong 2025 for dLocal, which has included recognition by the Financial Times as one of the Americas’ fastest-growing companies, a new UK FCA payment license, and new partnerships with PayPal, Temu, and Airtel.

FINTECH AFRICA | Nigerian Fintech, Grey, Partners with dLocal to Accelerate Expansion into Emerging Markets

Through this collaboration, Grey will offer cross-border payouts to wallets and bank accounts, ensuring instant and cost-effective transfers.https://t.co/DNeHSEFSLw… pic.twitter.com/Mn7p7SVyz4

— BitKE (@BitcoinKE) August 30, 2024

AZA Finance Founder, Elizabeth Rossiello, noted the company’s 11-year journey in building “Africa’s largest and most efficient trading desk for fiat and stablecoin foreign exchange.”

She added:

“We are looking forward to integrating our technology and our deep bench of experts with dLocal’s massive global platform.”

 

 

dLocal’s rapid growth has been fueled by its strong performance in the Middle East and Africa, regions known for high levels of crypto adoption. Key markets include:

The UAE

Turkey, and

Nigeria,

where stablecoin usage is particularly widespread.

One survey found that 77% of Nigerian crypto users have converted local currency to stablecoins at least once. According to data published by BitKE, the USDT / NGN pair is now among the most actively traded pairs on centralized exchanges in Nigeria, overtaking Bitcoin.

STABLECOINS | The Nigeria Stablecoin Boom – $USDT Adoption Surges as Crypto Landscape Evolves

The data shows that the USDT/NGN pair is now among the most actively traded pairs on centralized exchanges in Nigeria, overtaking #Bitcoin.https://t.co/EVCwJk98qz @Tether_to pic.twitter.com/RAggRIUsMh

— BitKE (@BitcoinKE) May 6, 2025

Africa now represents 20% of dLocal’s business, and, as one company executive noted, “Nine out of our top 10 customers are operating with us in Africa.”

This strong regional performance continues to enhance dLocal’s market position and global appeal.

 

________________

About AZA Finance

AZA Finance, formerly known as BitPesa, was founded in Nairobi, Kenya, in 2013 and specializes in cross-border payments and foreign exchange services across Africa.

The fintech has been instrumental in integrating cryptocurrency solutions into the African financial ecosystem.

 

Key Developments:

FTX Partnership: In March 2022, AZA Finance partnered with global and infamous cryptocurrency exchange, FTX, to enhance the adoption of Web3 and digital currencies in Africa. This collaboration aimed to:

Facilitate deposits and withdrawals in African fiat currencies on FTX.com, including mobile money and local bank integrations.

Launch African currency and digital currency trading pairs.

Onboard African NFTs and artists to the FTX NFT marketplace.

Develop educational resources and networking opportunities to support the Web3 economy in Africa.

[WATCH] FTX Partners with AZA Finance, Formerly BitPesa, to Expand Crypto and Web3 in Africa https://t.co/i10KZnTFwJ via @BitcoinKE

— RareBirdsHQ (@RareBirdsHQ_) March 18, 2022

FTX Investment: AZA Finance was among seven African companies included in Alameda Research’s private equity portfolio, receiving a $25 million investment in the form of a promissory note. This was the highest investment amount among the African companies listed. However, AZA Finance clarified that its entities were not part of the FTX bankruptcy proceedings, stating that FTX had erroneously listed them in its Chapter 11 filing.

AZA Finance (BitPesa) Among 7 African Companies Included in FTX’s Investment Portfolio of $25 Million – The Highest of All

AZA Finance (BTC Africa S.A) is listed with an investment type of ‘promissory note’ and an investment amount of $25,000,000.https://t.co/VQ01FOKG0c

— BitKE (@BitcoinKE) December 19, 2022

USDC Integration: AZA Finance has been recognized by Circle for leveraging the USDC stablecoin to provide better financial services to African users. The company offers USDC liquidity to its customer base, facilitating efficient cross-border transactions and bridging digital and fiat currencies.

LIST | Circle Highlights 7 African Fintechs Leveraging the USDC Stablecoin to Provide Better Financial Services to African Users

According to Circle, below is a list of African fintechs spearheading the usage of $USDC across the African continent.https://t.co/GjCGkTSWnv… pic.twitter.com/PgRepN97Pi

— BitKE (@BitcoinKE) December 18, 2023

Through these initiatives, AZA Finance continues to play a pivotal role in advancing cryptocurrency adoption and financial inclusion across the African continent.

 

 

 

Follow us on X for latest posts and updates

Join and interact with our Telegram community

_________________________________________

Norwegian Block Exchange (NBX) has become the first publicly traded company in Norway to adopt Bitcoin (BTC) as part of its treasury strategy, according to a company press release.

The Oslo-based firm disclosed the acquisition of 6 Bitcoin, with plans to increase its holdings to 10 BTC by the end of June 2025.

Following the announcement, NBX shares surged by more than 138%. The company trades under the ticker symbol NBX on the Euronext Growth Oslo exchange.

 

Proof of Concept

NBX – known for launching Bitcoin cashback credit cards and providing institutional-grade trading and custody – plans to use its Bitcoin reserves as collateral to issue USDM, a MiCA-compliant stablecoin on the Cardano (ADA) blockchain.

Cardano Blockchain Attracted the Most Developers in 2021, Says a Santiment Study #Cardano #cardanofeed #ADA #crypto #cardanocommunity #bitcoin #CoinMarketCap #blockchain #cryptocurrency #cryptonews #btc $ADAhttps://t.co/vV25uP1zMY

— Cardano Feed ($ADA) (@CardanoFeed) January 5, 2022

The company aims to generate yield through its insured custody infrastructure and Cardano’s DeFi ecosystem, positioning itself on the path to becoming a fully regulated digital asset bank.

The initial 6 BTC, valued at over $630,000, was loaned from NBX’s largest shareholders. The company confirmed the Bitcoin will not be sold or shorted, but retained on the balance sheet to support stablecoin issuance and yield strategies.

NBX also said it plans to use funds from its agreement with LDA Capital to further expand its Bitcoin holdings over the coming months.

The surge in NBX’s stock mirrors similar market reactions to other firms entering the Bitcoin treasury space. Last year [2024],

France’s Blockchain Group saw a 225% rise in share price following its BTC allocation, while

Indonesia’s DigiAsia Corp gained 91% after announcing plans to raise $100 million for Bitcoin purchases.

Norway’s Growing Bitcoin Adoption

NBX’s move is part of a broader trend among Norwegian firms turning to Bitcoin as a treasury asset.

Aker ASA, a major Norwegian industrial conglomerate, holds 1,170 BTC through its crypto-focused subsidiary Seetee. Brokerage firm K33 also recently raised $6.2 million for Bitcoin acquisitions.

Additionally, data from BitcoinTreasuries.net shows that Norway’s sovereign wealth fund, Norges Bank, had indirect exposure to over 3,800 BTC by the end of 2024 through its equity positions.

By positioning itself as a publicly listed vehicle with Bitcoin exposure, NBX aims to attract institutional capital – particularly from investors constrained to Norwegian equities but looking for BTC-linked assets.

The company also plans to engage family offices and high-net-worth individuals in an upcoming capital raise, and will host a dedicated Bitcoin treasury event on June 11 to outline its strategy.

Founded in 2018, NBX is licensed and regulated in Norway, offering trading, custody, and blockchain services across the Nordic region.

 

 

 

Follow us on X for latest posts and updates

Join and interact with our Telegram community

________________________________________

________________________________________