Africa Crypto News Update:

Kenya is weighing the implementation of the Travel Rule under the proposed Virtual Assets Service Providers (VASP) bill, while the Sui Foundation has inaugurated a blockchain hub in Nigeria to foster local development. Additionally, MoneyBadger, a South African crypto startup, has secured $400,000 in funding to enhance Bitcoin payment solutions.

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Nigeria Crypto News: Sui Foundation Launches Blockchain Hub

The Sui Foundation is investing in a blockchain hub in Nigeria, aimed at proliferating the local development ecosystem. This facility signifies their continued outreach in African and Asian markets.

“Africa’s fastest-growing tech market just got a major upgrade. SuiHub Lagos is live 🇳🇬” (Translation: Lagos joins places like Dubai in popularizing development initiatives by Sui Foundation.)

Christian Thompson, Managing Director of Sui Foundation, emphasized the commitment to empower developers:

“Lagos is home to one of the most energetic tech communities in the world…”

South Africa Crypto News: MoneyBadger Raises $400,000

In South Africa, MoneyBadger has raised $400,000 in pre-seed funding to improve its Bitcoin services, with plans to expand partnerships and operations.

“This funding round, partly funded in bitcoin, helps us accelerate these partnerships…”

Kenya Crypto News: Government Considers ‘Travel Rule’

The Kenyan government is contemplating the inclusion of the Travel Rule in the VASP regulation. This requires crypto service providers to gather and share user information, aligning with international standards set by the Financial Action Task Force (FATF).

In Summary

These developments highlight significant advancements in the African crypto landscape as local projects gain momentum and regulatory frameworks evolve.