Africa Crypto Week Summary: KPMG Calls for Nigerian Banks to Adopt Blockchain, Lisk Innovation Hub Completes Training Initiative as South Africa Enforces Stricter Crypto Regulations
KPMG is advocating for Nigerian banks to integrate blockchain technology, while Lisk Innovation Hub has trained over 20 African startups. South Africa's crypto asset providers will face tougher compliance by April 2025.
Dive into the latest from crypto in Africa as KPMG urges Nigerian banks to adopt blockchain while South African providers brace for stricter compliance from April 2025.
The African cryptocurrency landscape continues to evolve with new developments. KPMG, a leading audit firm, has called on Nigerian banks to partner with blockchain firms, recognizing the need for technological advancements in finance. Simultaneously, the Lisk Innovation Hub has successfully concluded a training program for 23 African startups, allocating a total of $196,000 to foster innovation across the continent.
Key Highlights:
- KPMG’s Call to Action: The audit firm emphasizes the importance of collaboration between banks and crypto companies to leverage each other’s strengths.
- Lisk Training Initiative: Driven by Lisk, this initiative provided invaluable insights to startups, including Tata iMali and TrendX.
- Stricter Compliance in South Africa: Starting April 30, 2025, crypto asset service providers in South Africa will face enhanced regulations, influenced by the Financial Action Task Force’s greylisting.
Conclusion
These moves signal a significant shift in how African countries are embracing and regulating the rapidly growing cryptocurrency sector.
