Here are some interesting news from the African Bitcoin space:

1. The Nigerian Election And Naira Crisis Are Fueling Bitcoin Adoption

According to an article by Abubakar Nur Khalil a Bitcoin core contributor and CEO of Recursive capital, the recent economic cash crisis in Nigeria has increased bitcoin’s value proposition for average Nigerians, making it an indispensable financial safe haven. The naira redesign has exacerbated the current economic hardship, leading to record-high inflation, a cash shortage, and an incoming administration that will determine the country’s course for the next few decades and the continent’s political landscape. Click here to read more.

2. Binance Adds the Liberian Dollar, Gambian Dalasi, and Others to P2P

Binance has added the Liberian dollar (LRD), Sierra Leonean leone (SLL), Gambian dalasi (GMD), Mauritanian ouguiya (MRO), and Cape Verdean escudo (CVE) to its Peer to Peer (P2P) market place. This new development is part of Binance’s effort to expand its product offerings and bolster its presence in Africa. Binance is the world’s largest crypto exchange by trade volume and has a global blockchain ecosystem spanning trading services, infrastructure solutions, educational resources, research, social good and charitable programs, investment, and incubation initiatives. It has maintained a unique status by providing access to broad financial tools while maintaining one of the lowest fees in the business. Click here to read more.
                                                                                                              

3. Bitcoin Adoption To Grow 50% By 2025

Bitcoin adoption among merchants is expected to increase by 50% in the next three years, according to a survey conducted by Ripple and Faster Payment Council. The top four use cases of crypto payments include remittances, cross-border B2B payments, card payments, and digital payments. Most payment companies believe that merchants globally will use more cryptocurrencies in the near term, with the Middle East leading the adoption race. Click here to read more.

4. The Central Bank of Rwanda Issues Public Notice Warning Against Cryptocurrencies Including Stablecoins

The National Bank of Rwanda (BNR) has warned the public to be aware of the risks associated with crypto-assets and to avoid being enticed into any investments related to them until a regulatory framework has been established. According to the central bank, crypto-assets come in many forms and remain unregulated, making them vulnerable to scams and price volatility. The Central Bank also warned that crypto-assets are vulnerable to money laundering activities, which could harm the integrity and reputation of the financial system. Click here to read more.