Bitcoin Reserves Adopted by America: Will Africa Adopt Next?
In the ever-evolving world of technology, Africa is making significant strides in the adoption and development of cryptocurrencies and blockchain technology. Here are some of the latest developments that have caught our attention:
Expanding Horizons
Swiss fintech Centi has partnered with pan-African crypto exchange Yellow Card, expanding Centi's African presence from eight countries to 20. This collaboration allows Swiss users to convert fiat into cryptocurrency using Centi-issued non-custodial wallets and send transfers directly to mobile wallets like M-PESA. Yellow Card also facilitates the crypto-to-cash exchange, enabling recipients to receive funds instantly in local currency with minimal fees [1].
Government-Backed Bitcoin Reserves
The United States has established a Strategic Bitcoin Reserve (SBR), a government-held Bitcoin stockpile for long-term national security and financial stability. The SBR functions as a "digital Fort Knox," a hugely secure, untouchable store of value [2].
Regulatory Landscape
African central banks are gradually opening towards cryptocurrencies, driven mainly by internal economic needs rather than external actions such as the U.S. establishing an SBR. While there is significant grassroots adoption of crypto in Africa, official regulatory stances remain cautious and vary significantly across countries. For instance, Ghana’s central bank is moving towards formal regulation of crypto platforms, introducing a licensing framework expected by September 2025 [1]. On the other hand, Botswana’s central bank is taking a cautious, research-focused approach to digital currencies, conducting stakeholder consultations and internal capacity building before any deployment of digital currencies [3].
Funding Opportunities
Several initiatives are providing funding opportunities for African blockchain projects. Lisk offers up to $20,000 in grants per startup, with a chance to secure $100,000 in additional funding [4]. Starknet launched a $4M fund for African blockchain startups, and Hedera has made a strategic investment in stablecoin payments company Ivorypay [5]. The six-month incubator, backed by Swiss-based CV Labs, aims to empower African blockchain projects [6].
Notable Developments
Notable participants in various programs include Tata iMali (South African fintech), TrendX (Nigeria-based tokenization platform), Afrikabal (Decentralized agricultural marketplace in Rwanda), Pokecoin (South Africa-based NFT marketplace), Jamit (Decentralized podcast platform), Nomachain (Kenya's blockchain-powered rent-to-own property startup), and Ivorypay [7].
Education and Training
The African blockchain talent firm Web3Bridge has opened the waitlist for its 13th cohort, providing an opportunity for aspiring blockchain professionals to gain knowledge and skills [8].
Regulatory Bodies and Programs
USAID announces the Women Entrepreneurship Incubator program in Kenya, and VISA has opened applications for Cohort 4 of its Africa Fintech Accelerator Program [9].
In conclusion, while the U.S. establishing an SBR might elevate Bitcoin globally, African central banks’ reconsideration of Bitcoin policies is primarily influenced by domestic factors such as inflation, banking exclusion, and the need for regulatory clarity [1][2][4]. The trend indicates a gradual, pragmatic embrace of crypto framed by risk mitigation, consumer protection, and economic utility rather than outright adoption influenced directly by the U.S. SBR.
- The partnership between Swiss fintech Centi and pan-African crypto exchange Yellow Card expands Centi's African presence, enabling Swiss users to send cryptocurrency to mobile wallets like M-PESA.
- The United States has established a Strategic Bitcoin Reserve (SBR), a government-held Bitcoin stockpile for long-term national security and financial stability.
- African central banks are gradually opening towards cryptocurrencies, driven by internal economic needs, while official regulatory stances remain cautious and vary significantly across countries.
- Ghana’s central bank is moving towards formal regulation of crypto platforms, introducing a licensing framework expected by September 2025.
- Botswana’s central bank is taking a cautious, research-focused approach to digital currencies, conducting stakeholder consultations and internal capacity building before any deployment of digital currencies.
- Several initiatives are providing funding opportunities for African blockchain projects, with Lisk offering grants of up to $20,000 per startup and a chance to secure $100,000 in additional funds.
- Notable African blockchain projects participating in various programs include Tata iMali, TrendX, Afrikabal, Pokecoin, Jamit, Nomachain, and Ivorypay.
- The African blockchain talent firm Web3Bridge has opened the waitlist for its 13th cohort, providing an opportunity for aspiring blockchain professionals to gain knowledge and skills.
- USAID announces the Women Entrepreneurship Incubator program in Kenya, and VISA has opened applications for Cohort 4 of its Africa Fintech Accelerator Program.
- While the U.S. establishing an SBR might elevate Bitcoin globally, African central banks’ reconsideration of Bitcoin policies is primarily influenced by domestic factors such as inflation, banking exclusion, and the need for regulatory clarity.
