The past week showed a clear shift across Africa’s crypto space. The focus is no longer just on trading, but on how money actually moves, with regulators and infrastructure players shaping the next phase.
Mobile money meets crypto at scale
One of the biggest moves this week was the integration between VALR and Onafriq. This allows users to fund crypto accounts directly through mobile money across multiple African markets. In a continent where mobile money is dominant, this could significantly expand access to digital assets.
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Kenya sets the tone on regulation
Kenya closed public comments on its draft Virtual Asset Service Providers regulations, one of the most detailed frameworks on the continent so far. The rules introduce strict stablecoin requirements, including full reserve backing and a mandate to hold at least 30% of reserves in Kenyan banks. New transaction and approval fees are also on the table, which could directly impact exchanges, issuers, and fintechs operating locally.
Uganda leans into tokenisation
Global Settlement Holdings is moving to acquire AKIBA, with a focus on building regulated infrastructure for tokenised assets. This points to increasing interest in bringing traditional financial assets on chain within compliant frameworks.
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Rwanda’s central bank issued a strong reminder that crypto is not authorized for payments or local currency conversion. The warning came after promotion of franc-based P2P trading, showing how quickly regulators react when crypto starts touching domestic currency rails. Read More Here
SMC DAO acquired Bread Africa in a six figure deal, strengthening its crypto to fiat capabilities. The move reflects a growing trend where smaller infrastructure players are being absorbed to build stronger, more scalable systems, especially around on and off ramps. Read More Here
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