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Nigerian Fintech Founder: ‘African Fintechs Have a Greater Scale Potential Than Other Tech Startups’

Nigerian Fintech Founder: ‘African Fintechs Have a Greater Scale Potential Than Other Tech Startups’The African fintech industry has grown rapidly over the past few years and this has caught the attention of some well-resourced venture capital (VC) firms. As one would expect, Nigerian fintech startups have dominated the continent in terms of funds raised or the number of transactions performed. Nigeria’s Burgeoning Fintech Scene This dominance has convinced […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Nigerian Agencies Told to Stop ‘Demonizing’ Crypto Industry Players

Nigerian Agencies Told to Stop ‘Demonizing’ Crypto Industry PlayersNigerian public and law enforcement agencies have been urged to “stop the demonization” of the blockchain and cryptocurrency industry. According to an association that advocates for the risk-based regulation of the crypto industry, financial institutions should not use a Nigerian central bank directive as basis for denying service to industry players. Risk-Based Regulation of Crypto […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Nigerian Blockchain Advocacy Group Says ‘Crypto Is Legit’ — Calls for Regulation of Industry

Nigerian Blockchain Advocacy Group Says ‘Crypto Is Legit’ — Calls for Regulation of IndustryThe Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has said crypto is legit and must be regulated. The group adds that any such regulation should on one hand encourage innovation, but discourage bad actors on the other. Equal Access to Banking and Financial Services The Nigerian blockchain advocacy group, […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Central Bank’s Targeting of P2P Crypto Transactions Forces Startup to Quit Nigeria

Central Bank’s Targeting of P2P Crypto Transactions Forces Startup to Quit NigeriaThe Nigerian startup behind the social payment app for cryptocurrency and fiat, Kurepay, says the Central Bank of Nigeria (CBN)’s current crackdown on crypto entities has forced it to suspend operations in Nigeria. ‘Horrible’ Year for Crypto Adoption According to a report by the Cryptoassetbuyer, this suspension of operations is set to commence at the […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Nigeria Central Bank Governor: Cryptocurrency Is a Product ‘Embedded in High Level of Illegality’

Nigeria Central Bank Governor: Cryptocurrency Is a Product ‘Embedded in High Level of Illegality’The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has claimed that a majority of cryptocurrency transactions are embedded in illegality. He also asserts that there is no room for cryptocurrency in the Nigerian banking space. Pushback Against Endsars Protest Claims In his latest anti-cryptocurrency salvo that was published by the Punch, Emefiele however appeared […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Nearly 500,000 Nigerian CBDC Wallets Downloaded Since Launch

Nearly 500,000 Nigerian CBDC Wallets Downloaded Since LaunchNearly half a million e-naira wallets have been downloaded a few weeks after the central bank digital currency (CBDC) was officially launched by Nigerian President Muhammadu Buhari, the central bank has said. E-Naira’s Initial Trade Volumes In addition to the 488,000 wallets that have been downloaded, Osita Nwanisobi, who is the Central Bank of Nigeria […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Nigerians Optimistic CBDC Will Improve Payments and Help Promote Cryptocurrencies

Nigerians Optimistic CBDC Will Improve Payments and Help Promote CryptocurrenciesNigerians are hopeful the planned central bank digital currency (CBDC), also known as the e-naira, is going to enhance cross-border payments and make it “easier for the naira to be widely used and accepted.” E-Naira Launch a Boon for Cryptos In fact, according to a VOA report, some Nigerian blockchain experts like Janet Kaatyo believe […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Luno to Reinstate Deposit and Withdrawal Function for Nigerian Clients — Denies User Speculation

Luno to Reinstate Deposit and Withdrawal Function for Nigerian Clients — Denies User SpeculationOne of the African continent’s leading cryptocurrency exchanges, Luno, has told its Nigerian users that it is “in the process of reinstating deposit and withdrawal functions on our platform.” According to an email that was sent to Nigerian users, this reinstatement is expected to happen “in the coming weeks.” Luno Not in Direct Communication With […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs