In our Africa crypto news roundup, we highlight notable advancements in South Africa and Nigeria, alongside exploring how blockchain can revolutionize mining.

South Africa Crypto News: Startup Introduces Car Purchases Through Crypto

Crypto payments startup 6DOT50 has partnered with car financing platforms Seriti Solutions and BTS to allow crypto car purchases in South Africa, accessible in approximately 1,400 motor vehicle dealerships nationwide. This initiative enables crypto owners to execute purchases through instant fiat voucher conversions for car dealers, allowing them to accept fiat payments seamlessly. The platform supports eight prominent cryptocurrencies, including Bitcoin, amidst a backdrop of high crypto ownership in South Africa.

Nigeria Crypto News: Stablecoin Debuts To Mixed Reviews

The Compliant NGN stablecoin (cNGN) has secured regulatory approval in Nigeria, marking a significant shift for the country’s cryptocurrency landscape. However, concerns remain regarding Nigeria’s national currency, the Naira, due to its global instability. Analysts express cautious optimism as this approval reflects a regulatory evolution, with expectations for more progress in the future.

Africa Crypto news: How The Blockchain Could Transform Mining In Africa

Nkahiseng Ralepeli from Absa Bank suggests that blockchain technology could enhance efficiency in the mining sector. In an online publication, he describes the potential for blockchain to streamline tracking, compliance, payments, and logistics within the industry, contributing to transparency and efficiency in South Africa’s vital mining sector.

Mining

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.