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Articles by Nigerian Fintech
BITCOIN | Why Jack Dorsey’s Block Unveiled Bitcoin Proof-of-Reserves for Independent Verification
Block Inc. has unveiled a Bitcoin proof-of-reserves system allowing users and investors to independently verify the company’s holdings on-chain in a move aimed at boosting transparency and trust in its crypto operations. The system covers Block’s corporate Bitcoin treasury as well as balances tied to its Cash App and Square businesses enabling public verification through cryptographic signatures rather than relying on company disclosures alone.
2026 OUTLOOK | The ‘Big Four’ Accounting Firms Looking to Ramp Up Crypto Services in 2026
For the first time, all of the Big Four professional services firms: PwC Deloitte EY, and KPMG are moving beyond cautious exploration and into full crypto-related offerings as institutional interest and regulatory clarity converge this year. The most visible shift has come from Pricewaterhouse Coopers (PwC), which has publicly said it is “leaning in” to cryptocurrency and digital assets after years of a more conservative stance.
FUNDING | Nigerian Crypto Startup, Konnadex, Secures $20,000 Lisk Grant to Boost Stablecoin Payments for e-Commerce
Konnadex, a Nigerian crypto payments processor focused on e-commerce, has secured a $20,000 grant from Lisk following its successful incubation under AYA HQ. This funding will power the company’s efforts to scale stablecoin-based payments across the continent. On X, The Founder of Konnadex, Ugochukwu Okoro, confirmed the news and celebrated the milestone. He noted how the support from Lisk will help them deepen the Konnadex payments infrastructure and expand merchant access to crypto payments.
BANKING | 31% of Kenyan Banks Signal Openness to Facilitate Virtual Assets Transactions, Central Bank of Kenya Survey Shows
A new Central Bank of Kenya (CBK) survey has revealed that most Kenyan banks are ready to offer cryptocurrency-related services, reflecting a shift in the country’s financial sector amid growing interest in digital assets. According to the CBK, feedback collected from banks shows a willingness to engage with crypto offerings, including partnerships with Virtual Asset Service Providers (VASPs), as long as there is a clear legal and regulatory framework in place.
REGULATION | From Protest to Policy – Kenya Revives Controversial Financial Surveillance Plan
Despite previous opposition, Kenya is once again attempting to grant the Kenya Revenue Authority (KRA) access to private financial data. The 2025 Finance Bill proposes deleting Section 59A(1B) of the Tax Procedures Act, a provision introduced in December 2024 that prohibits KRA from compelling businesses to share trade secrets or personal data collected from their customers.
STUDY | South Africa Leads Globally Among Countries with Largest Declines in CBDC Interest
A new research paper released in August 2024 has provided the first comprehensive evaluation of the early effects of macroeconomic indications and subjective well-being of central bank digital currencies (CBDCs) adoption. Despite considerable excitement about CBDCs, the analysis indicated that their effect on major economic indicators like GDP growth and inflation has been limited. The study’s statistical models examined countries that either tested or introduced CBDCs between 2019 and 2023.
CALL FOR APPLICATIONS | UNDP Timbuktoo Africa Initiative Seeks Startups to Join its Accelerator With $25,000 in Equity-Free Funding
The Timbuktoo Fintech Startup Accelerator has issued a call out to citizens of the African Union (AU) member states with startups to apply to join the programme with the application deadline on June 21 2024. “Are you a technology-driven startup, passionate about leveraging innovations in the financial services sector to solve Africa’s most complex development challenges?
FUNDING | Verod-Kepple Africa Ventures Secures $60 Million, Plans to Invest in 21 Growth-Stage African Companies
Pan-African VC, Verod-Kepple Africa Ventures (VKAV), has announced the successful closure of its inaugural fund, with a total of $60 million from various investors.
FINTECH EVENT [RECAP] | Highlights, Big Ideas, Impact, and More From the Africa Fintech Summit Lusaka 2023
From November 1-3 2023, fintech stakeholders from around Africa and the globe converged in Lusaka, Zambia, for the 10th edition of the Africa Fintech Summit (AFTS).
LAUNCH | Decentralized Wireless Service, World Mobile, Launches Google Play App with a Cardano Wallet in Tanzania
World Mobile, a decentralized wireless (DeWi) network operator, has revealed the launch of its app on Google Play. According to World Mobile, the app was initially launched in Zanzibar and is now available to users in Tanzania, United States, United Kingdom, Australia, and Canada starting from August 2023. “This is an important milestone for us, as we move towards our global vision of democratising connectivity and access to our services,” said Micky Watkins, CEO, World Mobile.
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