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Crossing $100,000, Luno Expands South Africa Crypto Offering, Nigeria Crypto License Update and Ivory Coast Crypto News.
It’s a good time to be a crypto enthusiast. Bitcoin broke the all-time $100,000 mark this week and the market looks strong as 2024 draws to a close.
The African crypto landscape is also abuzz with various startups expanding their operations as market players evaluate recent developments.
South Africa Crypto News: Luno Exchange expands its offering
South African financial services platform Luno has added six more crypto assets to its platform over the past week, bringing the total number of new additions to 17 in 2024 alone. Luno made the announcement even as Bitcoin crossed the incredible $100,000 mark.
The platform offers a total of 33 crypto asset options. This announcement represents the largest amount added at a single point in its history. Luno is attentive to the risk of its listed assets, their security criteria and their regulatory implications. Hedera, Axie Infinity, and Arbitrum are all well-known cryptocurrencies.
EXPLORE: 15 Best Anonymous Bitcoin Wallets Without KYC in 2024
Nigeria Crypto News: Yellow Card for Obtaining Crypto License in Nigeria
Pan-African crypto service provider Yellow Card is set to obtain a crypto license in Nigeria. This development will come a few weeks after the platform obtained a CASP license in South Africa. The country’s Securities and Exchange Commission (SEC) oversees these licenses and recently developed a framework for issuing approvals.
Nigeria is the largest crypto market in Africa. Earlier this year, this robust market made news for the wrong reasons, with Binance’s dramatic exit following a crackdown.
The tide turned in October with the release of a top Binance executive and the country’s regulators enacting a more secure regulatory framework for crypto platforms.
EXPLORE: 17 Best Cryptos to Buy Now in 2024
Ivory Coast Crypto News: a startup raises $8 million
Financial services startup HUB2 has raised more than 8 million dollars for its operations in Ivory Coast. HUB2 has grown exponentially over the past two years and could eclipse $1 billion in transactions processed in 2024. The startup seeks to solve interoperability gaps and integration issues plaguing financial service providers across the continent.
HUB2 still primarily derives its revenue from mobile money transfers. The additional capital is expected to help the company simplify onboarding and improve various payment options, including crypto payments. It operates in five West African countries and wishes to increase its visibility on a global scale.
EXPLORE: Africa Crypto Week Roundup: Telegram Drives Growth, Coinbase Eyes Kenya as Morocco Overturns Crypto Ban, But Will South Africa Win?
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The article Africa Crypto Week Review: Fast-growing Luno, Yellow Card eyes Nigeria as startup raises over $8M appeared first on 99Bitcoins.
