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After nearly two decades of limited service, global payments giant, PayPal, has re-entered Nigeria’s digital economy, not with a flashy standalone launch, but through a strategic partnership with local fintech, Paga, that finally unlocks inbound international payments for Nigerians.

Under the integration announced in January 2026, Nigerians can now link their PayPal accounts directly to Paga wallets, receive payments from PayPal’s global network in over 200 markets, and withdraw funds locally in Naira for spending, transfers, and other day-to-day needs.

Businesses and creators can also connect their PayPal merchant profiles to Paga for global receipts and faster local settlement.

FINTECH AFRICA | PayPal Plans Wallet-to-Wallet Payments in Africa With PayPal World Using Local Payment Systems

Connecting the Crypto Angle

PayPal’s earlier years in Nigeria were marked by strict restrictions that allowed outbound payments but not inbound balance reception, a limitation that kept Nigerian freelancers, SMEs, and global sellers on the sidelines of critical earnings. This re-entry closes that gap.

Paga’s role is strategic: its deep local rails, regulatory compliance, digital wallet reach, and settlement network give PayPal a ready-built infrastructure to scale cross-border inflows in a way that wasn’t feasible two decades ago.

 

While today’s headlines focus on payments, a parallel shift on the crypto front underscores PayPal’s evolving playbook:

 

1.) PYUSD Stablecoin – Digital Dollars for the Mainstream

PayPal launched its own U.S. dollar–backed stablecoin PYUSD in 2023, a bridge between traditional payments and on-chain value. It’s fully integrated into PayPal and Venmo, backed 1:1 by USD reserves and regulated by the New York State Department of Financial Services.

Unlike niche tokens, PYUSD is designed first for payments, not speculation, making it a core part of PayPal’s vision for digital commerce and cross-border value movement.

LAUNCH | PayPal Launches Dollar-Backed Stablecoin, PayPal USD (PYUSD), on the Ethereum Blockchain

2.) Doubling Down on Growth

Throughout 2025, PYUSD’s market cap surpassed $1 billion, doubling from earlier in the year, a milestone that reflects renewed usage and strategic integrations rather than purely incentive-driven demand.

PayPal has also expanded PYUSD’s reach, bringing it to multiple blockchains via cross-chain solutions and partnerships, a move that aims to reduce friction and cost in global settlements especially relevant for remittances and commerce in markets like Africa.

MILESTONE | PayPal’s PYUSD Stablecoin Surpasses $1 Billion Market Capitalization – Doubling Since Start of 2025

3.) Payments + Crypto, a Two-Track Approach

PayPal’s broader strategy is clear:

Payments at scale: Enable billions of users and millions of merchants to transact globally.

Crypto rails for liquidity: Use PYUSD and other token integrations to improve the speed and cost of value flows beyond legacy banking corridors.

This dual engine positions PayPal to compete not just with traditional remittance players, but with emerging blockchain-powered finance stacks in Africa where crypto, stablecoins, and fintech partnerships are already reshaping how people send, receive, and store value.

PayPal Pushes Crypto, Stablecoin Payments into the Mainstream, Cutting Costs and Expanding Global Commerce

For Nigeria, the implications are multi-layered:

Freelancers and SMEs now have a direct route to access global payers without complex workarounds.

Cross-border commerce becomes more frictionless, potentially boosting exports of digital services.

Stablecoin readiness: As digital assets like PYUSD mature, Nigerian users and platforms could leverage stablecoins for cheaper remittances, hedging currency risk, and programmable use cases in DeFi or payments.

Ecosystem signal: A major player like PayPal partnering with a local fintech underscores Africa’s rising financial sophistication and regulatory viability.

 

PayPal’s move into Nigeria via Paga is more than a payments relic returning home, it’s a statement of intent. It reveals how legacy platforms are blending traditional rails with crypto-native tools to remain relevant in markets where consumers and businesses increasingly expect fast, borderless, and digital money movement.

For Nigeria’s tech ecosystem, this moment is both validation and invitation: build, integrate, and innovate around payments, crypto, and the digital economy because the global players are coming with deeper stacks than ever before.

FINTECH AFRICA | Why Use PayPal in the Age of Crypto? Frustrated Users Propose African Alternatives

 

 

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Nigeria’s government has sharply increased revenue from digital payments, and regulators are now extending that tax regime to cryptocurrency withdrawals, a clear signal that Africa’s largest crypto market is firmly on the fiscal radar.

According to official data, collections from the Electronic Money Transfer Levy (EMTL), a fee applied to qualifying digital transfers, rose to about $276 million in the first 11 months of 2025, up from roughly $133 million over the same period in 2024.

That represents more than a 100% year-on-year increase.

The levy, now reclassified as stamp duty under Nigeria’s 2025 Tax Act, has become a predictable revenue stream for the federal government, which projects annual collections could exceed $321 million from 2026 onward.

TAXATION | How Kenya Collects More Taxes than Nigeria

Expanding the Tax Net to Crypto

Previously limited to bank and fintech transactions, the stamp duty regime has now been extended to crypto-to-fiat withdrawals, effectively closing a gap that allowed digital asset activity to operate outside direct transaction-level taxation.

Several Nigerian crypto platforms, including Quidax, Palremit, and JuicyWay, have notified users that a $0.04 stamp duty will apply to eligible Naira withdrawals beginning in early 2026.

FUNDING | Nigerian Fintech, JuicyWay, Raises $3 Million to Provide FX Exchange Using Stablecoins

Some platforms are also bundling the levy with additional service charges and VAT, pushing total withdrawal costs slightly higher for users.

Quidax has emphasized that the stamp duty is a government-mandated tax, not a platform fee.

REGULATION | KuCoin to Charge 7.5% Value Added Tax (VAT) on Crypto Transactions in Nigeria Following ‘An Important Regulatory Update’

While a four-cent charge per withdrawal may appear insignificant, its implications are broader:

High-frequency traders and P2P merchants operating on thin margins may adjust their behavior or move off centralized platforms.

Long-term users view the fee as marginal compared to volatility or on-chain transaction costs.

A few platforms, such as Tirra (formerly Azawire), are temporarily absorbing the tax to remain competitive — a move that pressures already narrow margins.

 

Crypto is Now Fully Inside Nigeria’s Tax Framework

The withdrawal levy is part of a broader regulatory push. Under the 2025 Tax Act:

Crypto profits are subject to personal income tax

TAXATION | Crypto Profits Will Be Subject to Personal Income Tax, Reveals Chairman of Nigeria Tax Reforms Committee

Accounts may be linked to national identity and tax IDs

REGULATION | Nigeria Starts Implementing CARF Requirements by Tying Crypto Transactions to Tax and National IDs

Non-compliant service providers face enforcement penalties

REGULATION | SEC Nigeria Raises Minimum Capital Requirements, Sets Higher Bar for Crypto, Fintech, and Capital Market Operators

With Nigeria recording over $92 billion in crypto transaction volume between July 2024 and June 2025, authorities are increasingly treating digital assets as a mainstream revenue base, not a fringe activity.

Nigeria’s approach mirrors a wider African trend: as fintech and crypto mature, governments are moving to formalize, tax, and integrate digital finance into national revenue systems.

For crypto platforms and users, compliance strategy is quickly becoming as important as product or pricing.

REGULATION | Nigeria Starts Implementing CARF Requirements by Tying Crypto Transactions to Tax and National IDs

 

 

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Kapitalová tržní autorita Keni (CMA Kenya) posouvá plány na snížení rizik spojených s obchodováním s virtuálními aktivy tím, že vytvoří specializovaný fond na odškodnění investorů, pokud licencovaný obchodník s virtuálními aktivy nesplní své závazky, což podtrhuje úsilí keňské vlády o vybudování země jako centra digitálních financí.

Generální ředitel CMA Wycliffe Shamiah řekl The EastAfrican, že jednání o mechanismu odškodnění pro lidi, kteří kupují a prodávají virtuální aktiva, probíhají odděleně od současného Fondu odškodnění investorů (ICF) používaného pro akciové investory.

In a major milestone for crypto-native payments in Africa, Flutterwave, one of the continent’s largest payments infrastructure platforms, has teamed up with TurnKey to launch secure and verifiable stablecoin balances for merchants and users.

Through this collaboration, Flutterwave is integrating Turnkey’s embedded wallet infrastructure to offer USDC and USDT stablecoin balances alongside traditional fiat balances, enabling faster, cheaper, and always-on cross-border payments across its network.

Stablecoins are increasingly seen as a bridge between traditional finance and digital value especially in markets with volatile local currencies or costly remittance flows. By embedding stablecoin wallets directly into Flutterwave’s platform, businesses and individuals can receive, hold, and transfer value seamlessly without having to manage complex wallet software or private keys.

PRESS RELEASE | Flutterwave Collaborates with Polygon as an Infrastructure Partner for Stablecoin Payments Across Africa

Nkem Abuah, Lead for Remittances & Stablecoin Partnerships at Flutterwave, highlighted this integration as a key step toward making regulated stablecoins part of everyday payments infrastructure across Africa.

“To accelerate business growth in Africa, we must make it safe, easy, and affordable for businesses to accept all forms of regulated payment methods, including stablecoin, from a global customer base.”

 

Turnkey CEO, Bryce Ferguson, noted that powering scalable stablecoin balance infrastructure with verifiable security mechanisms helps ensure more efficient flows of capital with fewer intermediaries, directly putting value into the hands of businesses rather than costly middlemen.

“We share Flutterwave’s belief that stablecoins offer an incredibly efficient way to accelerate payments and put more money directly into the hands of business owners rather than intermediaries.”

FINTECH AFRICA | ‘Stablecoin Adoption Has the Potential to 10x the Volumes We’re Currently Doing,’ Says CEO, Flutterwave

TurnKey: The Infrastructure Powering the New Wallet Generation

Turnkey’s core proposition is building a secure, programmable, and verifiable wallet infrastructure layer that solves some of the most persistent challenges in crypto.

These challenges include:

 

1.) Removing Wallet Complexity

Traditional wallets require users to manage seed phrases and deal with cryptographic key storage – barriers that keep mainstream audiences out. TurnKey eliminates this by enabling embedded wallets that users can access with familiar authentication mechanisms (email, phone, biometrics) without ever exposing seed phrases.

This approach significantly lowers the technical and security friction for both users and developers launching services like payments, trading, or DeFi. Developers can deploy secure non-custodial wallets in weeks, not months, removing infrastructure bottlenecks and accelerating product rollout.

2.) Verifiable Security by Design

A defining feature of TurnKey’s infrastructure is its emphasis on verifiability: every critical operation, from wallet creation to policy evaluation and transaction signing, occurs inside secure enclave environments, producing cryptographic proofs that operations were executed exactly as intended.

This means platforms using TurnKey can independently audit and verify the integrity of their wallet infrastructure without blind trust, addressing one of the key concerns for regulators and enterprise adopters.

3.) Programmability, Scalability, and Automation

In 2025, TurnKey shipped more than a dozen capabilities aimed at real-world use cases: modular embedded wallet kits, multi-chain support, native on-and off-ramp integrations (e.g., Coinbase, MoonPay), policy-driven signing controls, and developer SDKs that accelerate integration.

These tools help teams focusing on payments (like Flutterwave), DeFi apps, mobile exchanges, or autonomous Web3 agents integrate wallet functionality without reinventing infrastructure, letting them focus on UX and core product differentiation.

Turnkey’s rise has been matched by market validation:

In June 2025, the company raised a $30 million Series B round led by Bain Capital Crypto, with participation from Sequoia, Lightspeed Faction, Galaxy, Wintermute, and Variant bringing total funding to over $50 million. The round underscored investor confidence in secure, open infrastructure as the foundation for next-generation crypto applications.

In the same period, TurnKey was named to CNBC’s 2025 World’s Top Fintech Companies list, further validating its role as a core infrastructure provider at the intersection of traditional finance and crypto.

 

Flutterwave’s adoption of TurnKey’s wallet infrastructure reflects a broader trend: crypto primitives like stablecoins are moving from fringe use cases into mainstream financial rails, especially in markets where cross-border payments, remittances, and digital commerce demand speed and efficiency.

By lowering the technical barriers to wallet creation and secure key management, Turnkey is helping companies like Flutterwave and others in payments, trading, DeFi, and AI-driven automation unlock digital asset flows in ways that are compliant, secure, scalable, and user-friendly.

STABLECOINS | Stripe-Owned Nigerian Fintech, PayStack, Introduces Stablecoins as a ‘Major Theme’ Over Its Next Decade

 

 

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Ghanští finanční regulátoři odhalili Národní iniciativu pro vzdělávání v oblasti virtuálních aktiv (NaVALI), program zaměřený na vzdělávání, který má doplnit vznikající regulační rámec pro digitální aktiva v zemi. Tento krok představuje klíčový milník v přechodu Ghany od neformálních kryptomarketů k strukturovanému režimu, který vyvažuje inovace s ochranou spotřebitele a finanční integritou.

Na LinkedInu oznámil guvernér Banky Ghany, Dr. Johnson Pandit Asiama, že NaVALI má za cíl vybavit každodenní Ghančany, včetně pedagogů, podnikatelů a regulátorů, praktickým, bezžargonovým porozuměním virtuálním aktivům, jako jsou kryptoměny, stablecoiny a další nástroje založené na blockchainu.

Quidax, a provisionally-licenced Nigerian crypto startup, has shut down its peer-to-peer (P2P) trading feature just five months after launch, signaling the growing tension between crypto innovation and regulatory enforcement in Africa’s largest economy.

In an emailed notice to customers, Quidax said the decision to discontinue its P2P marketplace, including merchant ads, escrow services, and in-platform chats, was part of a strategic shift toward ‘higher-demand features’ like instant swaps and order-book trading.

Core services such as deposits, withdrawals, and spot trading will continue unaffected.

REPORT | Most Nigerian Crypto Investors Earn Below ~$200 Monthly, Says Nigerian Crypto Exchange, Quidax

Why P2P Was Controversial

P2P trading, where users buy and sell crypto directly with one another, has been a staple of Nigeria’s digital asset economy, often used to on-and off-ramp Naira outside traditional exchange rails. But regulators have increasingly flagged the model as a supervisory challenge.

The Securities and Exchange Commission of Nigeria (SEC Nigeria) has publicly raised concerns about:

Opaque transaction flows

Exchange-rate manipulation, and

The dominance of foreign P2P platforms operating in regulatory grey zones.

This has made formal oversight difficult and heightened investor-protection risks.

REGULATION | Nigeria Sues Binance for $81.5 Billion in Economic Losses and Unpaid Taxes

Quidax’s P2P feature was built to address those concerns by restricting merchant status to verified users subjected to strict KYC, enhanced authentication, and participation requirements. But even this controlled model appears to have sat uneasily within SEC Nigeria’s evolving enforcement posture.

REGULATION | Nigerian National Faces 20-Year Imprisonment for Laundering Stolen Funds via Crypto

Regulatory Backdrop: Sandbox Stalls, Rules Tighten

Quidax is part of SEC Nigeria’s Accelerated Regulatory Incubation Programme (ARIP), a sandbox designed to guide digital-asset firms toward full licencing. The programme was expected to transition participants like Quidax and rival Nigerian exchange, Busha, to full licences by August 2025, but that timeline has stalled as the regulator reassesses its supervisory capacity.

REGULATION | Nigerian Crypto Exchange, Quidax, Receives Provisional Operating License from SEC Nigeria

At the same time, SEC Nigeria has updated capital-requirement thresholds under the Investment and Securities Act, 2025, classifying digital assets as securities and subjecting service providers to the regulator’s capital markets framework. Although detailed rules for P2P platforms haven’t yet been published, standalone intermediaries and multi-service operators now face minimum capital requirements in the hundreds of millions of Naira.

REGULATION | SEC Nigeria Raises Minimum Capital Requirements, Sets Higher Bar for Crypto, Fintech, and Capital Market Operators

Quidax’s decision underscores a broader reality: even when exchanges build P2P systems with strong controls, regulatory uncertainty can outweigh product demand.

In this case, Quidax noted that most users preferred faster, more traditional trading methods, a trend that has likely influenced the product roadmap.

For the Nigerian market, this development may tighten liquidity in informal channels and accelerate migration toward regulated on-and off-ramping options. It also reinforces the SEC’s message that crypto services must fit within the capital markets ecosystem if they are to scale.

As the regulatory framework continues to take shape, operators and users alike will be watching closely to see how other P2P-dependent products evolve.

STATISTICS | ‘Statistics Don’t Lie. Over 33% of Our Population Are Engaged in Digital Assets,’ Confirms SEC Nigeria

 

 

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Stabilní mince jsou stále častěji přijímány po celé Africe jako rychlejší a levnější metoda pro zasílání peněz, přičemž remitence jsou nyní považovány za ‘důležitější než pomoc’ pro mnoho lidí na kontinentu, podle ekonomky Very Songwe, bývalé náměstkyně generálního tajemníka OSN, která hovořila na Světovém ekonomickém fóru v Davosu, Švýcarsko.

MÍLOST | Remitence z keňské diaspory dosáhly historických 1 bilionu KES (~7,7 miliardy $) do listopadu 2025, říká premiér.

Songwe zdůraznila, že tradiční služby převodu peněz v Africe mohou stát kolem 6 $ za každých 100 $ zaslaných, což činí přeshraniční platby nejen drahými, ale také pomalými. Naopak stabilní mince výrazně snižují poplatky a doby vyrovnání, což jednotlivcům a malým podnikům umožňuje převádět prostředky přes hranice během minut namísto čekání dnů na dokončení převodů.

Africká banka pro export a import (AfreximBank) formálně ukončila své dlouhodobé vztahy s hodnocením úvěrů u Fitch Ratings, globální agentury pro hodnocení úvěrů, po zjištění, že aktuální hodnotící rámec se již neshoduje s tím, jak by měla být posuzována právní struktura Banky, její mise a profil rizika.

Ve svém prohlášení Afreximbank uvedla, že komplexní přezkum jejího zapojení s Fitch ukázal, že nedávné metodologie hodnocení úvěrů používané agenturou nedostatečně odrážely Dohodu o založení Banky – multilaterální smlouvu podepsanou a ratifikovanou jejími členskými státy, která podporuje její mandát na podporu vnitro- a mimoafrického obchodu. Podle AfreximBank tato smlouva vytváří ochrany a právní závazky, které odlišují její operace od operací komerčních bank – rozdíly, které se domnívá, že byly přehlédnuty v hodnoceních Fitch.

 

Herculis Gold Coin (XAUH) umožňuje investorům vlastnit švýcarské zlato LBMA počínaje pouhými 0,01 gramy, což odstraňuje tradiční překážky, které je držely mimo dosah většiny kupujících.

Zlato sloužilo jako uchovatel hodnoty po tisíciletí. Přesto pro většinu moderní historie zůstávalo skutečné vlastnictví fyzického zlata mimo dosah průměrného člověka. Vysoké minimální nákupní částky, dealerové přirážky, náklady na skladování a obavy o bezpečnost vytvářely překážky, které dávaly výhodu institucionálním a bohatým kupujícím.

Tento výpočet se mění. Herculis Gold Coin (XAUH) představuje nový model, kde se vlastnictví zlomkového zlata stává tak přístupným jako nákup šálku kávy. Každý token XAUH představuje jeden gram švýcarského zlata LBMA 999,9 a může být rozdělen na jednotky tak malé, jak 0,01 gramu. Při současných cenách zlata to odpovídá vstupnímu nákladu přibližně $1,35 až $1,40.

After a long phase of rapid expansion, the global stablecoin market has stopped growing and entered a consolidation phase.

Industry sources say this plateau (around ~310 billion) reflects higher compliance costs from tighter rules in the U.S and EU and the fact that U.S Treasury yields are more attractive than holding non-yielding stablecoins.

Key points

• Issuance slowing: Institutional stablecoin issuers now face tougher regulatory requirements like stricter reserve standards under the US GENIUS Act and the EU’s Markets in Crypto-Assets regime which has raised compliance costs and discouraged aggressive minting.

• Treasury yields matter: With real yields on U.S government debt trading higher, the opportunity cost of holding stablecoins that don’t pay direct interest has risen, reducing speculative demand.

STABLECOINS | Circulation of Stablecoins Doubled in the Past 18 Months, Says McKinsey

• Market size staying steady: Data show the total stablecoin supply has hovered around ~$310 billion since late 2025 after more than doubling during early 2024–2025.

MILESTONE | Stablecoins Cross $300 Billion in Market Cap for the First Time

• Macro stress and market behavior: The plateau comes after a sharp market sell-off in October 2025 that triggered widespread deleveraging, shrinking demand for on-chain liquidity.

MILESTONE | Crypto Markets Record the Largest Single-Day Liquidation Event in History

• Yield debate heats up: Banking groups are pushing to curb or ban yield-bearing stablecoins in upcoming U.S legislation (CLARITY Act), arguing they could compete with traditional deposits, a claim industry leaders like Circle’s CEO have strongly rejected.

CLARITY ACT | U.S Senate Banking Committee Unveils Draft Crypto Market Structure Bill With Proposed Amendments

Stablecoins may now be viewed less as high-growth instruments and more as foundational infrastructure for payments and settlement. The market’s next expansion phase could hinge on clearer regulations and products that offer yield without triggering regulatory pushback.

2025 RECAP | Stablecoins Surged by ~50% in 2025 – The Biggest Year on Record

 

 

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The Ethiopian government has officially announced it is looking for investment partners to help build and operate Bitcoin mining infrastructure, part of its broader economic and digital transformation strategy.

Speaking at the Finance Forward Ethiopia 2026 conference, Prime Minister Abiy Ahmed said state-owned Ethiopian Investment Holdings (EIH) is actively seeking experienced partners who can bring capital, mining technology and operational expertise to a national Bitcoin mining initiative. The aim is to generate direct revenue for the country from Bitcoin mining rather than relying solely on private operators.

BITCOIN | Phoenix Group Reports Q1 2025 Results with $31 Million Revenue, Partly From Ethiopian Bitcoin Mining Operations

This move falls under the government’s ‘Digital Ethiopia 2030′ strategy, which focuses on strengthening the financial sector, boosting digital infrastructure and deepening technology adoption across the economy.

REPORT | The Digital Ethiopia 2030 Strategy Highlights Blockchain as Part of its Core Industry 5.0 Tools and Priorities

Ethiopia has quietly become one of Africa’s leading Bitcoin mining hubs, driven by its abundant renewable hydropower resources – including major projects such as the Grand Ethiopian Renaissance Dam – and historically low electricity costs. By mid-2025 there were about 23 licensed Bitcoin mining operations in the country, collectively consuming roughly 600 MW of power at rates near $0.032 per kilowatt-hour and accounting for ~2.5% of the global Bitcoin hash rate.

BITCOIN | A Look At Bitcoin Mining in Africa and How You Can Get Involved

State-owned utility Ethiopian Electric Power (EEP) has played a key role, partnering with foreign firms and selling electricity for mining operations. In 2024, EEP generated tens of millions of dollars in foreign revenue from power exports and Bitcoin mining agreements.

BITCOIN | Ethiopia Government Generates $55 Million from Bitcoin Mining Operations Over the Past 10 Months

Under the new initiative, the government hopes that public-private collaboration will unlock greater economic value from the mining sector, strengthen local technical skills, and more fully integrate Bitcoin mining into Ethiopia’s long-term development agenda.

LIST | A Look At 10 Key Milestones Behind Ethiopia’s Rise As a Bitcoin Mining Haven in 2024

In this article, we explore the key milestones that propelled #Ethiopia into the ranks of global Bitcoin mining powerhouseshttps://t.co/EtQcpEBTBr @KalKassa @qrb_labs @WestDataGroup pic.twitter.com/tCxj4Wye4f

— BitKE (@BitcoinKE) January 3, 2025

 

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The Office of the Data Protection Commissioner (ODPC) has officially confirmed that WorldCoin’s parent company, Tools for Humanity, has deleted all biometric data previously collected from Kenyan citizens.

The regulator said this followed a compliance audit to ensure the deletion aligned with the Data Protection Act, 2019, putting a spotlight on data privacy enforcement in Kenya.

WorldCoin’s biometric data collection in Kenya, where thousands of people had their iris and facial scans captured via ‘Orbs‘ in exchange for crypto rewards, quickly drew regulatory fire.

REGULATION | Kenya Data Protection Office Issues Notice as Locals Throng for WorldCoin Registration

Kenyan law views biometric information as sensitive personal data, and companies collecting such data must comply with the Data Protection Act, 2019.

REGULATION | WorldCoin CEO Grilled by Kenyan Parliament – Says Over 635,000 Kenyans Have Downloaded the App

In May 2025, Kenya’s High Court ruled that WorldCoin’s data gathering was unlawful, largely because it:

Didn’t conduct a mandatory Data Protection Impact Assessment (DPIA) before processing biometric data.

Failed to obtain valid, informed consent from participants, instead offering cryptocurrency as an inducement.

Operated without proper registration as a data controller or processor under Kenyan law.

REGULATION | Kenya High Court Declares WorldCoin Operations Illegal, Orders Deletion of Biometric Data

This ruling was part of a judicial review application brought by local rights groups, including Katiba Institute and others, underscoring serious privacy and regulatory gaps.

Following the court decision, the Kenyan government halted WorldCoin’s operations in August 2023 citing privacy and security concerns as thousands queued up especially at public registration points like KICC in Nairobi to get their eyes scanned.

REGULATION | The Kenya Ministry of Interior and National Administration Suspends WorldCoin Activities Pending Risk Assessment

Parliamentary committees and MPs also grilled authorities over the handling of the data and demanded transparency on deletion and verification long before the 2026 confirmation.

REGULATION | The Government Should Disable WorldCoin Virtual Platforms and Blacklist IP Addresses, Say Kenyan Lawmakers Report

In May 2025, the High Court didn’t just find Worldcoin’s activities unlawful, it ordered the permanent deletion of all biometric data collected from Kenyans. This meant WorldCoin had to remove iris and facial scan data from its systems under supervision of the Office of the Data Protection Commissioner (ODPC) within seven days.

 

This ruling prohibited WorldCoin from further processing or transferring biometric data unless it fully complied with legal requirements.

Regulators also noted that if WorldCoin wants to restart operations in Kenya, it must meet stringent local legal requirements including valid consent frameworks, DPIAs, proper registration, and compliance with cross-border data handling rules.

These developments matter because they reflect how Kenyan authorities are interpreting digital identity projects and crypto-linked data collection practices. WorldCoin’s case sets a precedent and becomes a test of Kenya’s data protection regime in balancing innovation with privacy rights and legal safeguards.

REGULATION | Kenyan Security Minister ‘Reluctant to Allow Cryptocurrencies’ Following WorldCoin Debacle

 

 

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Crypto payments in Kenya are quietly crossing a major threshold. What was once an underground peer-to-peer workaround is now surfacing as a functional, mainstream payment flow linking Binance, M-PESA TILLs and PAYBILLs, and direct settlement into Kenyan bank accounts, including KCB.

The shift was highlighted by Nick Mwendwa, CEO of Riverbank Solutions, who confirmed that users can now move value from crypto holdings such as USDT, USDC and Bitcoin into everyday merchant payments that ultimately settle into bank accounts and mobile wallets.

The feature was first noticed in 2025 by a crypto trader online who shared the experience at the time.

Binance now allowing the selling and buying of crypto through mobile money in Kenya.

•Minimum deposits set at 1,200 •USDT/KES at around 134.20 for buying pic.twitter.com/jeopGtv6qN

— Theo (@Theo_mwangi) September 29, 2025

For years, Binance P2P has been the de facto on-ramp and off-ramp for Kenyan crypto users. The system operated at scale but largely out of public view, sustained by informal trust networks and quiet execution.

 

That era, industry insiders say, is ending.

“What we used to do quietly in P2P has gone mainstream,” Mwendwa said, noting that crypto can now be used to pay merchants through standard M-PESA channels without the need for opaque workarounds.

P2P | Binance P2P to Shut Down the Cash Zone Option from April 2025

From Workarounds to Infrastructure

The ability to pay via TILL and PAYBILL numbers, rails already embedded across Kenyan commerce, marks a structural shift. Crypto is no longer just an asset class or trading instrument; it is increasingly functioning as a settlement layer that plugs into the country’s dominant payments infrastructure.

This evolution has important implications for builders and fintech firms. Many payment providers have long had crypto-adjacent capabilities but avoided public promotion due to regulatory uncertainty. With these flows now visible and functional, companies can begin to design products more openly around crypto-to-fiat settlement, according to Nick.

Regulation Is Catching Up

The development comes as Kenya moves closer to formal virtual asset regulation, following proposals by the Capital Markets Authority and broader policy discussions around licensing, custody, and consumer protection.

What this moment reveals, however, is that usage has consistently preceded regulation. Crypto payments have already embedded themselves into everyday financial behaviour. Regulation is now arriving to organise, supervise and legitimise an ecosystem that is already operating at scale.

Industry observers note that this mirrors earlier phases of Kenya’s fintech growth, where innovation often ran ahead of formal rule-making.

EDITORIAL | Kenya Passes Landmark Crypto Law – Binance and Coinbase Expected to Lead Licensed Entrants

Why Banks Have a Strategic Edge

The quiet emergence of bank-settled crypto payments also highlights why Kenyan banks may be better positioned than expected in the next phase of digital assets.

Banks already control:

Settlement accounts

Compliance and KYC infrastructure

Liquidity management

Trusted links to mobile money systems like M-PESA

As crypto transactions increasingly terminate in bank accounts, traditional lenders are becoming critical endpoints, not bystanders. Rather than being disrupted, banks can embed crypto flows into existing products – treasury services, merchant acquiring, cross-border payments and settlement.

EXPERT OPINION | The Stablecoin Opportunity Banks Are Missing

This creates a significant advantage over standalone crypto firms that still need access to banking rails to complete transactions.

The integration of Binance, M-PESA and bank settlement signals a broader transition: crypto in Kenya is moving from informal utility to recognised financial infrastructure.

As regulation takes shape, the market is likely to see clearer roles emerge with banks, payment processors and crypto platforms converging rather than competing outright.

What was once whispered about in P2P circles is now happening in plain sight. And in Kenya’s fast-moving financial landscape, that visibility may be the clearest sign yet that crypto payments are here to stay.

How USDT Donations Via the Binance P2P Platform Supported the June 2025 Kenya Gen Z Protests

 

 

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Strategy (formerly MicroStrategy), the bitcoin treasury company led by Michael Saylor, pushed its corporate Bitcoin holdings past 709,000 BTC with a massive $2.13 billion acquisition of 22,305 BTC, according to a U.S. Securities and Exchange Commission filing. This latest buy, funded through share and preferred stock offerings, represents the company’s largest purchase in over a year and underscores its core mission: accumulate Bitcoin relentlessly and hold it as a strategic treasury asset.

As of the January 2026 disclosure, Strategy owns 709,715 BTC, representing roughly 3.37 % of the total 21 million bitcoin supply. The company has spent about $53.9 billion acquiring these coins at an average cost of ~$75,979 per BTC. Despite short-term unrealized losses reflected in its Q4 financials, a point of scrutiny among analysts, Strategy’s leadership has doubled down on the narrative that long-term growth in bitcoin-per-share is the company’s most vital benchmark.

Michael Saylor’s strategy is unapologetically simple but bold:

Raise capital via equity and preferred stock offerings (ATMs) and channel that capital directly into Bitcoin.

 

This model bypasses traditional operational revenue, instead using capital markets as the fuel for BTC accumulation. While critics call this approach risky leverage, supporters view it as disciplined capital allocation into a deflationary asset class.

CASE STUDY | Strategy Inc. – A Corporate Playbook for Bitcoin Adoption in Africa

Who Are the Biggest Public Corporate Bitcoin Holders?

According to data from BitcoinTreasuries.net and other trackers, here’s how the top public companies stack up by BTC holdings:

Strategy Inc. (MSTR) — ~709,715 BTC — by far the largest public corporate holder.

MARA Holdings, Inc. (MARA) — ~53,250 BTC — major mining and holding company.

Twenty One Capital (XXI) — ~43,514 BTC — diversified digital asset treasury.

Metaplanet Inc. (MTPLF) — ~35,102 BTC.

Bitcoin Standard Treasury Company (CEPO) — ~30,021 BTC.

Bullish (BLSH) — ~24,300 BTC.

Riot Platforms, Inc. (RIOT) — ~18,005 BTC.

 

These figures represent publicly traded companies that hold Bitcoin as a treasury asset, and while many others hold BTC in smaller amounts, Strategy’s holdings dwarf the next largest public holders by more than an order of magnitude.

BITCOIN | ‘Most Countries Have to Look at it [Bitcoin Reserve] Very Carefully, and So Are We,” Says South African President at WEF 2025

The Rise of Bitcoin Treasury Companies

Michael Saylor and Strategy essentially invented the modern corporate Bitcoin treasury playbook. In 2020, when MicroStrategy first started converting cash reserves into BTC, few corporate treasuries considered holding digital assets. That move was widely covered as a bold shift in corporate finance and it quickly became a playbook imitators would follow.

That playbook is straightforward:

Raise capital through equity and preferred stock sales.

Acquire Bitcoin in large blocks using proceeds.

Hold indefinitely with minimal selling, treating Bitcoin as a strategic reserve rather than a trading asset.

Today, hundreds of companies, both public and private, have adopted some variation of this model, holding Bitcoin on their balance sheets as a hedge against inflation, diversification from cash and bonds, and a long-term growth asset.

By late 2025, more than 180 companies had reported Bitcoin holdings, spanning diverse sectors beyond tech and mining.

BITCOIN | Altvest, Africa’s First Publicly-Listed Firm to Add Bitcoin to Treasury Reserve, Rebrands to ‘Africa Bitcoin Corporation’

Challenges Facing Treasury Companies

Despite the explosive growth of Bitcoin treasury companies, the model has faced increasing scrutiny and criticism.

 

Market Volatility & Valuation Risk – Bitcoin’s price swings can create large unrealized losses on balance sheets. Strategy itself reported notable unrealized losses in late 2025, impacting investor sentiment and stock price performance even after large BTC purchases.

Premium vs. Fundamentals – Some critics argue that companies like Strategy earn valuation premiums that aren’t justified by underlying fundamentals essentially selling a stock that holds an asset without additional revenue diversification. This dynamic has led to debates on fair value and sustainability of the treasury model.

Credit Risk & Regulatory Scrutiny – Analysts warn that heavy corporate Bitcoin holdings can heighten credit risk, particularly for firms using debt instruments to finance buys. Additionally, regulatory uncertainty, especially in areas like tax treatment, accounting standards, and custody practices, remains a key operational headwind.

Market Sentiment & Price Pressure – Some Bitcoin treasury companies trade at significant discounts to their net asset value (NAV), which can weaken the perceived strength of the strategy and reduce capital-raising effectiveness.

Governance and Transparency – Because on-chain reserves aren’t always publicly verifiable, especially for companies that don’t disclose wallet addresses, investors often rely on SEC filings rather than real-time proof-of-reserves. This creates transparency debates within the treasury company world.

PRESS RELEASE | The First Bitcoin Treasury Company Receives a B- Rating from a Major Credit Rating Agency

The corporate Bitcoin treasury movement catalysed by Saylor’s Strategy has had real ripple effects:

Smaller public companies and even non-crypto firms have announced Bitcoin holdings to attract investors and diversify their balance sheets.

Traditional institutional investors increasingly consider Bitcoin exposures via treasury companies or proxy stocks.

Debates in media and analytical reports now center on strategic treasury policies, risk management, and the long-term role of digital assets in corporate finance.

EXPERT OPINION | Bitcoin, Digital Asset Treasuries and the Road to 2026: Director of Institutional at Gemini on Where Crypto Is Headed

 

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At the World Economic Forum in Davos, the Nairobi International Financial Centre Authority (NIFC) made a strong case for Nairobi as Africa’s premier destination for finance, innovation, and regulated digital assets – signaling a strategic push that could transform Kenya’s crypto ecosystem.

NIFC’s CEO, Daniel Mainda, told global investors that Nairobi has shifted from “momentum to architecture,” focusing on regulatory clarity, strong institutions, and real economic outcomes rather than provisional experiments. The engagement in Davos showcased plans to support blockchain infrastructure and scalable digital platforms.

 

“Kenya has made a deliberate shift from momentum to architecture. Through the Nairobi International Financial Centre, we are building markets – not experiments – anchored in regulatory clarity, strong institutions, and real economic outcomes.

Nairobi is positioning itself as Africa’s trusted platform for capital, innovation, and regulated digital assets, offering active facilitation, sandbox support, and targeted incentives for regional headquarters, holding companies, venture capital and private equity funds, and high-growth startups.

We will compete on regulatory quality, not regulatory arbitrage – and we are open for serious business.”

REGULATION | Kenya’s Crypto Regulatory Capture is Actually Regional – Here’s Why It Matters for East Africa

Crypto Regulation: From Law to Market

A key pillar of Kenya’s strategy is the country’s new legal framework for virtual assets, which has begun to take shape:

In October 2025, Kenya’s Parliament passed the Virtual Asset Service Providers (VASP) Act, formalizing rules for crypto and digital asset firms and providing legal recognition for virtual assets.

Under the Act, the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) are designated to license and supervise digital-asset activities, from exchanges and wallets to trading services.

Detailed operational regulations – the rules that explain exactly how licensing and compliance will work in practice — are now being developed by the National Treasury, CBK, and CMA to activate the licensing regime.

REGULATION | ‘We Have Not Licensed Any VASPs Under the [VASP] Act to Operate In or From Kenya,’ Says Central Bank and Capital Markets Regulator

Once implemented, this regulatory structure will give digital-asset businesses confidence that compliance, investor protection, and risk-management standards are in place, addressing concerns that have previously slowed institutional and retail participation in the Kenyan market.

REGULATION | The Kenya Crypto Regulation is Unique and We’ll See It Adopted Across East Africa, Says Yellow Card Senior Legal Counsel

A Competitive Advantage for Finance and Crypto

NIFC’s message in Davos, that Nairobi is open for serious business, was backed by commitments from global players like ChainBLX SPC and SCC Fund SP to establish operations in Kenya with NIFC support.

For the crypto sector specifically, the regulatory momentum positions Kenya to attract exchanges, fintechs, and digital platforms seeking a clear, regulated base for African expansion. Industry observers expect that once formal licensing begins, global players will be more willing to enter the Kenyan market, much like in other jurisdictions where legal certainty opened the door for licensed operations.

EDITORIAL | Kenya Passes Landmark Crypto Law – Binance and Coinbase Expected to Lead Licensed Entrants

For the Kenyan crypto community and the broader Web3 ecosystem, the NIFC’s positioning and the completion of crypto regulations represent a critical turning point:

Clarity and oversight from CBK and CMA could reduce risks such as fraud and unregulated activity.

A regulated environment helps legitimate exchanges and service providers establish operations locally, potentially boosting job creation and innovation.

With clear rules, Kenya can better compete with South Africa and other African markets advancing crypto frameworks.

2025 RECAP | South Africa Had Approved 300 Crypto Firms Out of 512 Applications as of December 2025

As NIFC continues to roll out incentives for regional headquarters, venture capital, and financial services firms, the combination of regulatory progress and strategic positioning could make Kenya a magnet for digital-asset investment – turning Nairobi into one of Africa’s next big crypto hubs.

REGULATION | Bank of Uganda Governor Lists 6 Foundational Pillars for Crypto Regulation in the Country

 

 

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As PayStack marks its 10th anniversary, the company isn’t just celebrating a decade of powering payments across Africa, it’s staking a bold claim in the future of digital money.

PayStack operates in key African markets, handling growth that has accelerated since its acquisition by global payments leader Stripe in 2020. That partnership has helped scale PayStack’s payment volume more than twelvefold and now ties the business into some of the most exciting innovations shaping global finance.

[WATCH] Nigerian Payment Startup, PayStack, Gets Acquired by Online Payment Firm, Stripe, for Over $200 Million

The Stack Group and a Stablecoin Vision

To reflect broader ambitions, PayStack announced the creation of The Stack Group (TSG), a new parent company that will house payments, banking, consumer finance, and a new tech arm called TSG Labs.

PRESS RELEASE | Stripe-Owned Nigerian Fintech, PayStack, Launches Holding Company, The Stack Group, as it Celebrates 10-Year Anniversary

This arm is explicitly charged with pushing into emerging technologies, including stablecoins and other blockchain-linked financial infrastructure.

Crucially, PayStack says it is finalizing a stablecoin license in a key market, indicating its intent to build or issue digital cash that can move at internet speed and with lower friction than traditional money.

Stablecoins, digital assets pegged to stable assets like the U.S. dollar, are rapidly becoming core rails for fast, low-cost global payments.

Yellow Card, Flutterwave, Onafriq: Why Africa’s Fintech Sector is Turning to Stablecoins

Stripe itself has been one of the biggest builders in this space:

Stripe and crypto partner, Paradigm, developed Tempo, a new blockchain optimized for stablecoin payments, remittances, and micropayments at high speed.

INTRODUCING | Global Fintech Giant, Stripe, Launches Tempo, a Payments-Focussed Blockchain for Stablecoins

Stripe’s acquisition of stablecoin platform, Bridge, has enabled it to launch Open Issuance, letting businesses create and manage their own stablecoins.

MILESTONE | Stripe Makes Headlines with $1.1 Billion Acquisition of Bridge, the Largest Deal in Crypto History

Major fintechs like Klarna have already launched USD-pegged stablecoins on Stripe’s blockchain infrastructure, with broader adoption expected in 2026.

Introducing KlarnaUSD, our first @Stablecoin.

We’re the first bank to launch on @tempo, the payments blockchain by @stripe and @paradigm.

With stablecoin transactions already at $27T a year, we’re bringing faster, cheaper cross-border payments to our 114M customers.

Crypto is…

— Klarna (@Klarna) November 25, 2025

Through its new group structure and ambitions to secure stablecoin licensing, PayStack is positioning itself to ride this wave of digital money innovation – potentially offering merchants and customers in Africa access to programmable, blockchain-enabled money that moves as fast as the internet.

A Second Decade, Redefined

What began as a mission to simplify online payments in Africa is now expanding toward end-to-end money movement solutions that tap into cutting-edge global payment technologies.

With Stripe’s deepening investment in stablecoins and blockchain infrastructure, PayStack’s next decade could see it become a bridge between traditional African finance and the emerging world of digital dollars.

STABLECOINS | Leading African Fintech, NALA, Partners with Noah to Launch a Stablecoin Settlement Network on Regulated Rails

 

 

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Příspěvek senátora Ihenyena, vedoucího partnera ve společnosti Infusion Lawyers a v současnosti předsedy Výkonného výboru Řídícího výboru Asociace poskytovatelů služeb virtuálních aktiv (VASPA).



Jak se počáteční prach usazuje na oběžníku č. 26-1 Komise pro cenné papíry a burzu (SEC) Nigérie – který vymezuje nové minimální kapitálové požadavky pro operátory kapitálového trhu (CMOs) – začíná se rýsovat znepokojivý obraz.

S poskytovateli služeb virtuálních aktiv (VASPs), kteří jsou nyní klasifikováni jako CMO, srovnání s globálními regulačními režimy pro digitální aktiva ukazuje, že nová minimální kapitálová požadavek v Nigérii ve výši ₦2 miliard (přibližně 1,4 milionu dolarů) pro burzy digitálních aktiv (DAXs) není jen strmá, ale řadí se mezi nejvíce restriktivní na světě. To vyvolává obavy, že politika by mohla omezit místní kapacitu a odolnost, kterou by měl vláda podporovat, aby udržela Nigérii konkurenceschopnou v tomto rychle se vyvíjejícím sektoru.

PayStack, a company solving payments problems for ambitious businesses in Africa, today announces the launch of The Stack Group (TSG), a parent holding company that will aggregate the tech-focused family of brands connected with Paystack. TSG Founding shareholders include Stripe, Shola Akinlade (Founder and CEO of Paystack), and existing Paystack employees. The agreements establishing TSG as the parent holding company were signed in October 2025, and are subject to the requisite regulatory approvals.

[WATCH] Nigerian Payment Startup, PayStack, Gets Acquired by Online Payment Firm, Stripe, for Over $200 Million

__________

TSG launches as the parent holding company to a family of complementary brands – including Paystack, Paystack MFB, Zap and TSG Labs (a new venture studio/incubator)

The group reports profitability following >12x payment volume growth since acquisition by global payments giant Stripe 5 years ago; the announcement coincides with Paystack’s 10-year anniversary in January 2026

The agreements establishing TSG as the parent holding company were signed in October 2025 and are pending the requisite regulatory approvals 

TSG Labs will also develop products beyond fintech, including AI-led offerings 

Since its acquisition by Stripe in 2020, Paystack has grown its payment volume by 12x and is licensed and operational in Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa, with regulatory approvals for Egypt and Rwanda, representing ~46% of Africa’s GDP. This product-first approach to pan-African growth has since led to Paystack becoming profitable at the group level, the company announced.

Nigeria’s Paystack Gets Payment Service Provider Licence from the Central Bank of Kenya

This news follows the recent launch of Paystack MFB in Nigeria. Functioning as a standalone bank, Paystack MFB allows the group to internalise core financial rails and provide the banking and credit infrastructure required by over 300,000 Nigerian merchants. These capabilities enable the development of elegant, compliant, and much-needed end-to-end money-movement solutions and will continue to power the company’s mission of building technology solutions for Africa, to power African ambition.

FINTECH AFRICA | Leading Nigerian Fintech, PayStack, Reduces Operations Outside of Africa, Moves to Prioritize Local Teams

Providing a corporate umbrella for a family of complementary brands that innovate in different domains, TSG companies will be united by shared values and deep knowledge of building technology products to solve Africa-specific challenges, while remaining operationally independent. At the outset, TSG will include:

Paystack –  innovates within merchant payments

Zap – innovates within consumer payments

Paystack Microfinance Bank – innovates within banking

TSG Labs – innovates with emerging technologies and builds new products both within and beyond financial technology

 

Shola Akinlade, CEO and Paystack Founder, says,

“The launch of TSG signals a larger scope of ambition for us and sets the tone for the next decade of our company.

Having worked with thousands of companies across the continent since 2016, it is clear that there are significant opportunities to support businesses beyond payments, and TSG enables us to address the challenges African companies face. 

Thank you to the Stripe team for their continued belief in Africa’s potential, and our ability to create transformative technology companies for the continent, and beyond.” 

 

The announcement comes as Paystack celebrates its 10-year anniversary in January 2026.

LIST | Here is the List of Countries in Africa Where Stripe Stablecoin-Based Accounts Are Available

 

 

 

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Meziřetězové DeFi mosty – protokoly, které umožňují uživatelům přesouvat aktiva z jednoho blockchainu na druhý – se staly centrálním prvkem blockchainového ekosystému. Umožňují toku likvidity mezi sítěmi a podporují multichain DeFi aktivity.

Navzdory jejich užitečnosti však mosty také kanalizují obrovskou hodnotu prostřednictvím systémů, které zůstávají relativně nejisté, což je činí primárním cílem pro hackery.



Mosty: Jak velké jsou mosty?

Mosty nyní sedí v jádru multichain aktivit. Data z analytických firem blockchainu ukazují, že mosty pravidelně zpracovávají miliardy dolarů v transakcích každý měsíc; některé odhady uvádějí, že celkový objem převedených prostředků přes všechny řetězce přesahuje 6 miliard dolarů měsíčně.