Lungelo Magwaza

Yellow Card Secures Crypto Asset Service Provider License in South Africa Yellow Card App, an African stablecoin-based infrastructure provider, has been granted a Crypto Asset Service Provider (CASP) license by the Financial Sector Conduct Authority (FSCA) in South Africa. The CASP license enables Yellow Card to continue offering secure, compliant, and transformative crypto asset services in South Africa, further strengthening its role in driving stablecoin adoption across Africa. This comes on the backdrop of a growing stablecoin adoption throughout Africa and particularly in South Africa, with stablecoins now surpassing bitcoin in popularity in the country, growing 50% month-over-month since October 2023. Yellow Card has played a significant role in this surge, having facilitated over USD 3 B in transactions and operating in 20 countries across the continent since its South African launch in 2020. This milestone follows a recently completed USD 33 M Series C financing round, led by Blockchain Capital and supported by investors such as Polychain Capital, Coinbase Ventures, and Block, Inc. #SouthAfrica #YellowCard #CryptoInAfrica #Stablecoins #DigitalAssets #Fintech #Innovation

"Where Africa really stands apart is its use of bitcoin and stablecoins for hedging purposes. There's a particular trend towards preference for stablecoins tied to the US Dollar..." Cryptocurrency's use cases vary significantly depending on where in the world we look. In the US, for example, where just 5% of the population is unbanked, it's reasonable to assume there is less need for crypto's use case outside of investing. Across Africa, though, it's a different story with roughly 57% of adults not having access to a bank account. On the flip side, South Africa has a relatively high banked population at 80%. Given this, why are South Africans increasingly drawn to stablecoins, what drives adoption and where is the future headed? Get all the latest research and insights in Luno's 2024 State of Crypto in Africa report: https://lnkd.in/dZn4k9wa

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RCO Finance (RCOF): The Rising Star in the Altcoin Market In the ever-evolving world of cryptocurrency, new projects frequently emerge, vying for attention and investment. Among these, RCO Finance (RCOF) has recently made headlines, particularly in the United States, as its token presale has surpassed an impressive $2.3 million. This surge https://lnkd.in/g9r_KjxF

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Binance, a leading global cryptocurrency exchange, has revealed plans to shift its South African derivatives operations to its subsidiary in Bahrain, Binance Bahrain B.S.C. (c). This strategic decision aligns with the regulatory standards of both South Africa and Bahrain, allowing Binance to maintain compliance while effectively continuing to serve users in both regions. As part of this transition, South African users who wish to continue trading derivatives on Binance will be required to create new accounts with Binance Bahrain. They will also need to undergo a new Know-Your-Customer (KYC) verification process, adhering to the standards set by the Central Bank of Bahrain. This migration is seen as a response to the increasing global regulatory scrutiny that has prompted Binance to align more closely with established regulatory frameworks. Click the link to read more: https://lnkd.in/d79ewhUs #innovationvillage #binance #crypto #cryptocurrency #subsidiary #regulatory #knowyourcustomer #accounts #bahrain #southafrica #africabusiness

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"Stay ahead in the world of cryptocurrencies with Ecla Africa Consult! 🌍🚀 📊 Today's Crypto Market Prices (as of 13th August 2024, 11:40 AM): - Bitcoin: $59,319.55 - Ethereum: $2,656.01 - BNB: $522.80 - Solana: $146.54 - XRP: $0.5718 - Ton: $6.33 - Doge: $0.1048 - Shiba: $0.00001371 💼 Total Crypto Market Cap: $2.08 Trillion 💹 Total Trading Volume: $79.99 Billion #Crypto #Bitcoin #Ethereum #BNB #Solana #XRP #Doge #Shiba #Finance #MarketUpdate #EclaAfrica #Audit #Advisory #Tax #Training"

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🌍 Africa is quickly becoming "The Bitcoin Continent! A stat shared by The Bitcoin Magazine on X (Aug 30, 2024) reveals that over 110 businesses are now building on #Bitcoin across Africa. This shows how Blockchain Technology is revolutionizing the digital landscape, unlocking endless opportunities for innovation and economic growth across the continent. The future of Africa’s digital economy is bright! #BitcoinAfrica #BlockchainRevolution #DigitalTransformation #AfricaTech #Bitcoin #Blockchain #EmergingMarkets #TechInnovation

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IS AFRICA THE BITCOIN CONTINENT? 🌍 Businesses all around the world are adopting Bitcoin as a form of payment, most especially in the likes of countries where traditional banking products are not always available. Is Africa leading the charge on this? You know where to go 🤝🏼

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The Best Bitcoin Wallets in Kenya

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Cryptocurrencies, such as Bitcoin and Ethereum, have revolutionised the financial world by offering decentralised alternatives to traditional currency. In recent years, many countries have considered adopting central bank digital currencies (CBDCs), where digital forms of national currency are issued by governments. South Africa is no exception, with the South African Reserve Bank exploring the potential of CBDCs through Project Khokha. This transition raises important questions about the future of traditional banks, as digital currencies could streamline transactions and reduce transaction costs. However, they also introduce regulatory concerns and risks, such as price volatility and cybersecurity issues. For South Africans, digital currencies present both opportunities and challenges. On the one hand, they can offer quicker and cheaper transactions, particularly for cross-border payments, which is critical for remittances sent to and from other African countries. On the other hand, the volatility of cryptocurrencies can make them risky for personal savings or investments. In this context, it’s vital for individuals and businesses to stay informed about developments in digital currencies and ensure they understand the risks before diving in.

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