Africa

Ripple plans to launch its USD-backed stablecoin to compete with existing ones like USDT and USDC. Dubai’s favorable regulatory environment is key to Ripple’s strategy and expansion in the Middle East. In a recent interview, Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the company’s intentions to launch a new USD-backed stablecoin. Merrick pointed to the burgeoning stablecoin market and Ripple’s readiness to contribute significantly to this space. He cited the regulatory environment in Dubai as…

Ripple (XRP) maintains stability around $0.51 amidst anticipation of a court ruling on its lawsuit with the SEC, while also unveiling plans to expand its services in Africa. However, market sentiment hinges on developments in the Ripple SEC lawsuit, with Ripple mandated to file counter briefs alongside the SEC by May 20. Ripple (XRP) remains near $0.51 on Friday, holding above the key psychological level of $0.50, as traders anticipate the court ruling in the lawsuit against the US Securities…

The post Ripple Expands to Africa: XRP Soars to $0.52 After Major Announcement, What Next? appeared first on Coinpedia Fintech News Ripple has announced plans to introduce XRP Ledger and crypto-native services, including custody, in Africa. This expansion aligns with Ripple’s vision to leverage blockchain technology for cross-border payments and beyond.  The announcement comes as XRP experiences a surge in value, rising from $0.48 to $0.52, reflecting a 4.2% increase. Ripple’s Expansion into Africa Ripple, a leading firm in cross-border…

African-inclined Layer-1 blockchain Tórónet has partnered with NexeralID. The alliance aims to bolster user compliance with KYC solutions using NexeralID’s technology. Tórónet, Africa’s first Layer-1 blockchain developed for underserved markets, announced a strategic partnership with NexeraID to improve digital transaction security in Africa. This partnership marks a breakthrough for Africa, establishing new standards for secure and convenient financial transactions. Tórónet to Integrate KYC Protocols As revealed in a press release shared with Crypto News Flash, a key feature of this…

Vodafone intends to utilize SIM card technology for blockchain-based digital wallets on mobile devices through Pairpoint. The British-based telecommunication company is available globally through its subsidiaries, thus promising to expedite the mass crypto adoption. Top-tier multinational telecommunications company Vodafone Group Plc., which predominantly operates in Europe, Asia, Oceania, and Africa, is ostensibly advancing its SIM technology via the use of blockchain to help users manage crypto assets. According to Vodafone’s Pairpoint Chief Product Officer (CFO), David Palmer, in a recent…

Kenya’s government has invited Marathon Digital Holdings to discuss its energy needs and set up operations in the country, as per local reports. Despite the central bank’s efforts to discourage crypto investment, Kenya is one of Africa’s leading crypto markets and has regularly ranked first globally for peer-to-peer trading. Africa has continued to embrace cryptocurrencies, with several countries in the region defying Western approaches and adopting Bitcoin. The latest to push for adoption is Kenya, with the East African country…

Ebury and dLocal team up to make global transactions smoother, especially in African markets. Businesses can now enjoy enhanced efficiency and cost-effectiveness with dLocal’s advanced payment solutions integrated into Ebury’s services. Ebury, a global financial services firm, has entered into a strategic partnership with dLocal, a leading cross-border payment platform specializing in high-growth markets. The collaboration aims to bolster Ebury’s capabilities in facilitating international transactions, particularly within African markets, while ensuring seamless access and streamlined processes for its clients. It's…

IOTA has continued to expand its influence in Abu Dhabi and Africa through strategic partnerships. Beyond fundamentals, IOTA is advancing on the tech front with IOTA 2.0 in view. The IOTA blockchain network has recorded some breakthrough projects which include its Foundation launch in Abu Dhabi and collaborations with Trademark Africa and the WEF. IOTA’s Foundation Launch in Abu Dhabi As revealed in a post on the X platform, the IOTA Foundation was formed in Abu Dhabi in partnership with…

Africa could become a powerhouse in the blockchain space in the near future, according to research.   Swiss investment company Crypto Valley Venture Capital has highlighted the rise in the volume of funding that has entered Africa’s blockchain space in recent times. In a recent release, the firm noted a substantial increase in this year’s Q1 funding compared to 2021’s. Venture Funding Grows 11 Times in Q1 2022 The Swiss company CV VC recently released its publication, The African Blockchain…