Crypto Landscape in Africa: Kenya's DePIN Summit, South Africa's Merchant Leadership, New Law in Nigeria
This article discusses the emerging trends in the African crypto market, including the upcoming DePIN summit in Kenya, South Africa's leading role in crypto payments, and new securities legislation in Nigeria.
Crypto Landscape in Africa: Kenya’s DePIN Summit, South Africa’s Merchant Leadership, New Law in Nigeria
The crypto news environment in Africa is rapidly evolving. In Kenya, the city of Mombasa will host a DePIN summit in July. Meanwhile, South Africa is taking the lead in merchant crypto payments. In Nigeria, new developments have surfaced following the enactment of fresh securities legislation.
Kenya Crypto News: DePIN Event Set For Mombasa and Zanzibar
The Decentralized Physical Infrastructure Networks (DePIN) organization has announced that it will hold its annual event in Mombasa, Kenya. This event will focus on decentralized infrastructure, blockchain solutions, and sustainability, taking place from July 2 to 5.
Expected participants include industry leaders, innovators, and policymakers, aiming to expand blockchain development in Africa.
This initiative could direct investments toward promising cryptocurrencies.
South Africa Crypto News: Leader In Merchant Crypto Adoption
South Africa is recognized as a leading crypto market globally, and a recent survey indicated that it ranks first in Africa for merchant crypto payments. This reflects the maturity of the South African market, where many institutional players are adopting cryptocurrency as a payment system.
“Incredible market for local stablecoin & payment focused teams…” — Aditya Shetty
South Africa boasts around 584 merchant locations accepting crypto payments—ranking sixth globally.
Nigeria Crypto News: New Securities Law—What You Should Know
Recently, Nigerian President Bola Tinubu signed the Investment and Securities Act, which now recognizes virtual assets as securities in the country. This legislative change eases uncertainties surrounding cryptocurrency in Nigeria, which has seen a tumultuous year marked by crackdowns.
This law is significant for a nation where crypto transactions faced regulatory obstacles.
This will create a more transparent environment for investors, with hopes for revitalizing Nigeria’s crypto industry, which has had a complicated relationship with regulatory authorities.
In conclusion, the African crypto landscape is not only diverse but also shows promising growth, driven by significant events like the upcoming DePIN summit, South Africa’s strong merchant adoption, and Nigeria’s legislative advances in the crypto sector.
