Tag: PanAfrican

Pan-African crypto exchange Yellow Card wins virtual asset license

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African crypto exchange Yellow Card has received significant regulatory approval to continue expanding its operations across the continent. Yellow Card has obtained a virtual asset service provider license (VASP) from the Non-Bank Financial Institution Regulatory Authority of Botswana (NBFIRA), according to the announcement on Oct. 19. The new license officially authorizes Yellow Card to allow its customers buy and sell Bitcoin (BTC), Ether (ETH) and Tether (USDT) stablecoin with the local fiat currency, Botswana pula. According to Chris Maurice, CEO and co-founder of Yellow Card, the new license opens up greater opportunities…

MARA to Build Pan-African Crypto Exchange, Advise CAR’s President

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A startup, Mara, has raised $23 million in equity and token sales to build a pan-African cryptocurrency exchange, TechCrunch reports. According to the outlet, the seed funding came from Coinbase Ventures, Alameda Research and Distributed Global. Venture capital firms, TQ Ventures, DIGITAL, Nexo, Infinite Capital, DAO Joines and about 100 crypto investors also participated in the round. The company, which has bases in Lagos, Nigeria and Kenya, said it wants to create a portal to the crypto economy for Africans. Keep Reading Mara’s product suite includes a wallet for users…

Coinbase Ventures Backed Startup to Build Pan-African Crypto Exchange With $23 Million Capital Raise – Finance Bitcoin News

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The African startup, Mara, recently said it has raised about $23 million in funding from organizations ranging from Coinbase Ventures to individual angel investors like Amit Bhatia and Hamad Alhoimaizi. Mara has also partnered with the Central African Republic (CAR) and will act as an adviser to the country’s president. Enhancing Africa’s Competitiveness An Africa-focused crypto startup, Mara, has raised $23 million in funding for building a so-called pan-African cryptocurrency exchange, a report has said. Participating in the startup’s capital raise were Coinbase Ventures, Alameda Research, Distributed Global, TQ Ventures,…

Cardano Subsidiary Emurgo in Partnership With Pan-African Venture Studio – Announcements Bitcoin News

Emurgo, the investment arm of Cardano, has partnered one of its subsidiaries with Adanian Labs, a pan-African venture studio that is focused on building a platform where African tech start-ups can thrive and access all key resources that allow them to grow sustainably. Financial and Educational Empowerment via the Blockchain According to a statement issued by Adanian Labs, the goal of this partnership arrangement is to bring financial and educational empowerment via Cardano’s blockchain platform to the billions who lack these opportunities. “This investment is part of EMURGO Africa, a…

Pan-African Exchange Yellow Card Raises $15 Million in Latest Funding Round – Crowdfunding Bitcoin News

Yellow Card, an Africa-focused crypto exchange platform, recently announced a capital raise of $15 million from its Series A funding round. The capital raise, which is Yellow Card’s largest, was led by Valar Ventures, Third Prime, and Castle Island Ventures. Square, Coinbase Ventures, and Blockchain.com Ventures also participated in the round. Making Cryptocurrencies Accessible According to the exchange platform’s blog post, part of the funds raised will be used to “ramp up hiring and continue its expansion across the continent.” On the other hand, Chris Maurice, founder and CEO of…

Major Pan-African Insurance Firm Rolls Back Insurance for Crypto Mining Equipment

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Pan-African insurance company Old Mutual has opted out of insuring cryptocurrency mining equipment due to the absence of regulation in the industry, local technology-focused new outlet ITWeb reported on June 10. Following comprehensive research of the industry, Old Mutual has arrived at a decision not to insure equipment used for digital currency mining because of the unregulated nature of the industry. Among other reasons, the company also named cryptocurrencies’ exposure to fraudulent activity and modified electronic infrastructure of mining equipment that leads to overheating and other malfunctions. Christelle Colman, an…

Community-Led Pan-African Blockchain Standards Org Publishes Draft ICO Guidelines

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The African Digital Asset Framework (ADAF) — a project that aims to establish compliance-focused, cross-border blockchain standards for the African continent — published the first version of its guidance for initial coin offerings (ICO) on March 25. ADAF is supported by the African Digital Asset Foundation (which shares the same acronym) — a non-profit organization and open-source project founded in November 2018, which aims to encourage self-regulation and foster the establishment of legal and technical standards that would support digital trade between the African continent and the diaspora. According to…