BitcoinKE

Cryptocurrency’s role in facilitating human trafficking grew sharply in 2025 with payments tied to suspected trafficking networks surging 85% year-over-year, according to the 2026 Crypto Crime Report published by blockchain analytics firm, Chainalysis.

Chainalysis found that hundreds of millions of dollars in cryptocurrency were routed to services linked to human trafficking last year, up dramatically from the prior year. These flows included payments connected to:

Telegram-based international escort services

Labor recruitment linked to forced scam compounds

Prostitution networks

Child sexual abuse material (CSAM) vendors

Roughly 48.8% of tracked transactions to “international escort” services exceeded $10,000, signaling that many of these operations behave like professional criminal enterprises rather than small-scale networks.

REPORT | Stablecoins Now Account for the Majority of Illicit Transactions in Crypto, Says Chainalysis

How Crypto is Used in Trafficking Operations

The report highlights several disturbing operational trends:

Stablecoins dominate payments: Many trafficking operations – especially international escort and prostitution services – used stablecoins like USDT and USDC for cross-border payments.

Telegram as a marketplace: Telegram-based channels acted as hubs where traffickers and criminal networks advertised services, handled escrow payments, and coordinated transactions.

Use of privacy coins: Some CSAM-linked platforms were discovered using privacy-focused cryptocurrencies such as Monero (XMR) to launder proceeds and obscure transaction trails.

CSAM operations on dark and surface web: One major CSAM site analyzed by Chainalysis used over 5,800 cryptocurrency addresses and generated more than $530,000 in revenue since mid-2022 – reflecting the industrial scale of some of these abuses.

2025 RECAP | Stablecoin Transactions Hit Record $33 Trillion in 2025, Led by USDC

Although Southeast Asia was a central hub for many trafficking-related crypto flows, Chainalysis noted that operations have global reach with users from the Americas, Europe, and Australia sending funds. CSAM services, in particular, were often hosted on infrastructure with a substantial footprint in the United States, showing how traffickers use global digital infrastructure to mask illicit activity.

Chainalysis’ broader 2026 Crypto Crime Report also sheds light on wider trends in illicit crypto use.

In 2025, criminal networks routed at least $154 billion in funds through illicit addresses, a 162% increase from the previous year, with stablecoins representing the vast majority of that activity.

These figures show that while human trafficking represents a smaller slice of overall crypto crime, it is part of a larger ecosystem of financially motivated abuse, money laundering, scams, and state-linked illicit activity.

2025 RECAP | Sanctions Fuel Over 160% YoY Record Flow Increase to Illicit Crypto Addresses in 2025

 

 

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On February 12, 2026, the U.S. Commodity Futures Trading Commission (CFTC) formally announced the members of its newly constituted Innovation Advisory Committee (IAC), a 35-person body that brings together leaders from both emerging technology sectors and traditional finance to advise the regulator on innovation in markets.

 

A Strategic Shift in Advisory Engagement

The IAC, sponsored by CFTC Chairman, Michael S. Selig, replaces the agency’s previous Technology Advisory Committee.

Its mandate is to provide the Commission with insight into how breakthrough technological advancements, including blockchain, digital assets, and artificial intelligence, are reshaping financial markets. The committee’s role is practical and forward-looking: its members will help ensure that CFTC policy keeps pace with market evolution and reflects real-world commercial and technological developments.

Chairman Selig described the launch as an “important and energizing moment,” emphasizing that the IAC’s guidance will help the CFTC “future-proof its markets” and create clear and adaptive regulatory frameworks for what he termed a “Golden Age of American Financial Markets.”

REGULATION | Are Cryptocurrencies Securities or Commodities? Examining the Regulatory Overlap and Its Impact

Crypto Representation at the Forefront

Of the 35 appointed members, a significant portion are executives from the cryptocurrency and digital asset ecosystem. According to industry reporting, 20 of the members have direct ties to crypto firms or platforms, highlighting the CFTC’s intent to incorporate deep industry expertise as it develops its regulatory approach.

Notable figures include:

Brian Armstrong, CEO of Coinbase

Brad Garlinghouse, CEO of Ripple

Hayden Adams, CEO of Uniswap Labs

Shayne Coplan, CEO, Polymarket

Tyler Winklevoss, CEO of Gemini

Kris Marszalek, CEO of Crypto.com

Arjun Sethi, Co-CEO, Kraken

Anatoly Yakovenko, CEO of Solana Labs

Vlad Tenev, CEO of Robinhood

Nathan McCauley, CEO of Anchorage Digital

Peter Smith, CEO of Blockchain.com

Chris Dixon, Managing Partner, a16z Crypto

Tom Farley, CEO, Bullish

Luke Hoersten, CEO, Bitnomial

Tarek Mansour, CEO, Kalshi

Peter Mintzberg, CEO, Grayscale

Sergey Nazarov, CEO, Chainlink Labs

Alana Palmedo, Managing Partner, Paradigm

Vivek Raman, CEO, Etherealize

These leaders join counterparts from major traditional exchanges and financial infrastructure firms including CME Group, Nasdaq, CBOE Global Markets, Intercontinental Exchange (ICE), and more.

REGULATION | The United States SEC Declares Most Meme Coins Are Not Securities in Landmark Guidance

Broader Industry and Regulatory Context

The expanded Innovation Advisory Committee comes amid a broader push by the CFTC to engage with digital asset markets and emerging technologies. This follows earlier CFTC initiatives aimed at fostering dialogue with industry participants, including CEO forums and pilot programs for digital asset market structures, and reflects a shifting regulatory landscape in which U.S. agencies are increasingly seeking industry input.

Industry observers see the IAC as part of a more receptive regulatory posture toward crypto, particularly compared to other U.S. financial regulators historically seen as more cautious. The inclusion of prominent crypto executives signals that those building digital markets have a formal channel to inform policymakers about the economic and practical impacts of new products, platforms, and models.

 

“America is home to the most transparent and well-regulated financial markets in the world, but we cannot assume that this will always be the case,” Chairman Selig said.

“By bringing together participants from every corner of the marketplace, the IAC will be a major asset for the Commission as we work to modernize our rules and regulations for the innovations of today and tomorrow.”

 

As the CFTC navigates complex issues from decentralized finance (DeFi) to AI-enabled trading and 24/7 digital asset markets, the Innovation Advisory Committee’s work could influence how the U.S. crafts regulations that balance innovation with market integrity.

With a blend of crypto pioneers and traditional market leaders at the table, the IAC is positioned to bridge perspectives and help shape policy that addresses both emerging opportunities and risks in modern financial markets.

EDITORIAL | The GENIUS Act Could Redefine Stablecoins – And Trigger a New Wave of Players

 

 

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Onafriq, a pan-African fintech operating in more than 40 countries, has entered into a strategic partnership with Conduit, a cross-border payments firm that uses dollar-pegged tokens, aiming to transform how the company manages liquidity and executes payments abroad.

Announced at the Africa Tech Summit 2026, the agreement will enable Onafriq to leverage the USDC stablecoin to

fund accounts,

rebalance its treasury, and

make payouts

in markets where conventional bank transfers often take several days to clear.

STABLECOINS | Conduit Raises $36 Million Series A to Scale Real-Time Cross-Border Stablecoin Payments Across Latam, Africa, Asia

The initiative is designed to reduce both the time and cost of moving funds across currencies and jurisdictions. Onafriq, which supports cross-border volumes for banks, mobile money operators and merchants, did not disclose its annual transaction figures.

This deal adds to a growing number of African fintechs adopting stablecoin rails for backend settlement. These dollar-pegged digital tokens are being used to speed up cross-border flows, improve liquidity management, and lessen reliance on traditional correspondent banking networks.

“Onafriq is a global poster child for the impact a fintech can have in a developing market, offering fast, reliable and accessible money movement in Africa, which has not been served well by traditional banking options,” said Kirill Gertman, founder and CEO of Conduit.

Stablecoins, which are designed to maintain parity with the U.S dollar, are gaining traction in regions of Africa with limited foreign exchange access and few correspondent bank links. In most cases, payment firms are using them as settlement tools rather than consumer products.

The first phase of the collaboration will focus on treasury operations, with Conduit helping Onafriq convert USDC into U.S dollars through off-ramp channels as both companies assess how stablecoins can support global liquidity needs.

Conduit noted that demand from African clients has surged, with its customer base on the continent growing by 80% between the third and fourth quarters of 2025. The company’s stablecoin-powered cross-border product first launched in 2023.

 

“Conduit’s infrastructure will help us move toward streamlining our global treasury management through stablecoins and drive faster payouts for our customers,” said Luke Khohere, Group Chief Product and Innovation Officer at Onafriq.

PARTNERSHIP | South African Fintech, Onafriq (Formerly MFS Africa), to Leverage Ripple Blockchain Across Africa via 3 Fintech Partners

Founded in 2010, Onafriq already provides services including

cross-border transfers,

collections,

card services,

agent banking and

foreign exchange,

acting as a key intermediary between local payment systems across the continent.

Both companies argue that their model offers cost advantages over traditional correspondent banking, which usually involves multiple intermediaries each charging fees and adding latency. In contrast, stablecoin transactions typically incur a single fee and offer clearer tracking throughout processing.

This partnership comes as payment providers worldwide look for alternatives to SWIFT-based transfers, which can face delays and multiple compliance checks. Stablecoin networks promise near-real-time settlement, though they still require local banking partners for fiat on-and off-ramping which players like Onafriq are able to provide.

FINTECH AFRICA | NALA, One of Africa’s Leading Fintechs with Over 1 Million Active Users, is Building an On-Off-Ramp for Stablecoins

 

 

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MoonPay, a leading provider of global crypto payments and stablecoin infrastructure, has announced a strategic partnership with Deel, the comprehensive global payroll and HR platform. The collaboration will expand stablecoin salary payout options for workers around the world, giving employees a faster and more flexible way to receive their pay.

LATEST |@deel and @moonpay partner to enable #stablecoin payments for over 40,000 businesses

‘Getting paid should be the easiest part of the job.’ pic.twitter.com/mJziKMqlkQ

— BitKE (@BitcoinKE) February 12, 2026

Deel, an AI-powered platform for payroll, HR, mobility, performance, benefits, and device management across 150+ countries and trusted by over 40,000 customers and supported by thousands of local experts, and helping companies hire, manage, pay, and support workers anywhere in the world, is furthering its expansion into crypto-enabled payroll through this partnership.

MoonPay’s stablecoin conversion and payout capabilities will be integrated into Deel’s platform to support compliant salary payments directly to users’ non-custodial crypto wallets.

The rollout will begin next month, first supporting workers in the United Kingdom and European Union, with plans to expand to the United States in a later phase.

 

“Deel is transforming global payroll for the modern workforce, and MoonPay is proud to support their mission with enterprise-grade stablecoin payouts,” said Ivan Soto-Wright, CEO and Founder of MoonPay.

“This partnership represents a major step forward in bringing digital assets into real-world financial use cases like salary payments.” 

 

Thierry Edde, Head of Crypto at Deel, added:

“At Deel, we are committed to giving the global workforce ultimate flexibility in how they receive their earnings. By integrating MoonPay’s infrastructure, we’re expanding our suite of payment options, making it even easier for workers to access their pay instantly and securely via stablecoins.” 

 

Under the partnership, Deel users will be able to opt in to receive salary payments in stablecoins, a modern alternative to traditional cross-border transfers. MoonPay will handle the

conversion,

wallet delivery, and

off-ramp flexibility

necessary to make stablecoin payroll a usable end-to-end option.

Leading South African Exchange, VALR, and MoonPay Announce Integration to Enhance Global Crypto Access

Stablecoin salary payments are designed to offer several benefits for Deel’s global workforce, including

faster payouts through near-instant settlement,

value protection from volatility in high-inflation regions, and

secure access for workers who lack reliable banking options.

This is not the first time that Deel has dabbled in alternative payments.

In a 2022 report, Deel revealed that almost 10% of its payroll withdrawals from African contracts were in crypto. The report also showed that Latin America has experienced 52% of crypto withdrawals out of overall salary withdrawals, while Africa’s figure stands at 34%.

“Almost 10 percent of payroll withdrawals from contracts in Africa are in cryptocurrency while top countries in #Africa where hiring is growing include Nigeria, South Africa, and Kenya.”

– @deel Report

https://t.co/u4nDXY5ZiN #remotejobs #remotework #remoteworking

— BitKE (@BitcoinKE) March 18, 2022

The African play is noteworthy when you consider that the continent is one of the most expensive regions for sending remittances and payments globally with traditional money transfer services costing around $6 for every $100 sent.

REPORT | Sub-Saharan Africa Remains the Most Expensive Region for Sending Remittances, Says Latest World Bank Research

At the same time, over 43% of all crypto transactions across Africa are now happening via stablecoins overtaking Bitcoin in transaction volume across most regions. Nigeria alone received more than 40% of SSA stablecoin inflows last year, with Ethiopia and Zambia seeing annual growth rates above 100%.

REPORT | Stablecoins Now Account for 43% of All Sub-Saharan Africa Crypto Transactions, Says Quidax

Stablecoins are also increasingly being adopted across Africa as a faster and cheaper method for sending money, with remittances now seen as ‘more important than aid’ for many people on the continent, according to economist Vera Songwe, a former United Nations under-secretary-general speaking at the World Economic Forum in Davos, Switzerland.

STABLECOINS | Stablecoins Becoming Vital Financial Tools in Africa as Remittances Surpass Aid, Says Former UN Under-Secretary General

While the report attributed this statistic to an almost 800% YoY rise in remote hiring due to the after-effects of Covid-19, it revealed the potential and possibly helped prepare the current trajectory in stablecoin payouts.

REPORT | Almost 10% of Payroll Withdrawals from African Contracts are in Crypto, Says Latest Deel Report

 

 

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New data from payments infrastructure provider, Borderless.xyz, reveals that Africa had the highest median stablecoin-to-fiat conversion spreads among global regions in January 2026 based on nearly 94,000 rate observations across 66 currency corridors.

The regional median spread on stablecoin conversions in Africa was 299 basis points (about 3%), far above Latin America’s roughly 1.3% and Asia’s 0.07%. Within the continent, conversion costs varied widely roughly 1.5% in South Africa up to nearly 19.5% in Botswana.

 

In this context, ‘spreads’ describe the gap between what providers will buy and sell stablecoins for relative to local fiat similar to bid-ask spreads in traditional FX markets. This spread reflects the actual execution cost users pay when converting stablecoins into local currency.

According to the Borderless.xyz report, competition among providers appears to be a key driver of pricing differences.

Markets with multiple active providers generally showed conversion fees between about 1.5% and 4%, while

those with only a single provider often saw costs exceed 13%.

A look at specific countries reveals that,

Botswana recorded the highest median conversion cost in January at 19.4%, though costs eased later in the month, and

Congo also posted spreads above 13%.

By contrast, South Africa’s more competitive FX market corresponded with lower conversion costs near 1.5%.

The pattern across the continent is consistent: more providers in a corridor means tighter spreads.

The report also compared stablecoin exchange rates with traditional interbank FX mid-market rates to measure a so-called ‘TradFi premium.’ Globally, stablecoin mid-rates were generally in line, or marginally cheaper, with traditional FX, with a median difference of about 5 basis points (0.05%). In Africa, the gap was noticeably wider, at around 119 basis points (1.2%), though this varied significantly by country.

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

A few things stand out.

Congo’s +3,436 bps isn’t really ‘market pricing’ – it’s a single provider quoting one static rate all month, reflecting parallel market dynamics rather than competitive FX.

Botswana’s -342 bps is the opposite story – stablecoin rails are genuinely cheaper than the traditional alternative there.

And for the five currencies near parity (Kenya through Uganda), the premium is so small that the real cost difference comes from the execution spread, not the mid-rate.

CURRENCY

STABLECOIN MID

TRADFI RATE

PREMIUM (BPS)

CDF (Congo)

3,050.00

2,270.07

+3,436

XAF (CFA-CEMAC)

585.00

560.94

+429

NGN (Nigeria)

1,467.95

1,422.92

+317

MWK (Malawi)

1,760.44

1,734.94

+147

GHS (Ghana)

10.97

10.81

+146

ZMW (Zambia)

20.15

19.90

+126

XOF (CFA-WAEMU)

567.60

560.94

+119

UGX (Uganda)

3,582.32

3,561.08

+60

ZAR (South Africa)

16.48

16.39

+54

RWF (Rwanda)

1,460.09

1,456.20

+27

KES (Kenya)

129.13

129.01

+9

TZS (Tanzania)

2,509.10

2,507.86

+5

BWP (Botswana)

13.19

13.65

-342

Economist Vera Songwe noted at the World Economic Forum in WEF Davos 2026 that stablecoins are helping lower remittance costs across Africa where traditional money transfer services can charge roughly $6 per $100 sent. The new data suggests stablecoins can offer faster settlement and potential savings over legacy services, but actual conversion costs within individual corridors remain relatively high.

She also pointed to high inflation above 20% in roughly 12 to 15 African countries since the COVID-19 pandemic and explained that stablecoins offer a way to store value in currencies that are less affected by inflation, effectively acting as a financial safety net. Songwe noted that about 650 million people in Africa lack access to a bank account, but with a smartphone, they can use stablecoins to preserve value in a more stable currency.

STABLECOINS | Stablecoins Becoming Vital Financial Tools in Africa as Remittances Surpass Aid, Says Former UN Under-Secretary General

 

 

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Nigeria’s external foreign exchange reserves have risen to around $49 billion as of February 5 2026, according to Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso.

The increase, a roughly 4.9% gain from prior levels, highlights a broader strengthening in Nigeria’s external position and renewed confidence in the economy.

 

A Reserves Rebound Amid Policy Reforms

Governor Cardoso announced the figures during the National Economic Council (NEC) Conference in Abuja, Nigeria. He noted that when the current leadership assumed control at the apex bank, Nigeria’s net foreign reserves were ‘about $3 billion,’ underscoring the scale of the build-up over the past months.

This growth coincides with policy shifts at the CBN aimed at increasing market-driven foreign exchange flows. Under the revised approach, the bank allows the FX market to largely determine prices, intervening only to buy foreign currency when necessary, a move that has helped narrow the gap between official and parallel market exchange rates to under 2%.

REGULATION | Nigerian Central Bank Forms Task-Force to Double Remittances, Lower Transaction Costs, and Standardize Compliance

Recall that in early 2025, the Nigeria government blamed Binance, the world’s largest cryptocurrency exchange, for the country’s currency challenges, slapping a $81.5 billion lawsuit on the exchange for economic losses. Nigeria has claimed Binance had a ‘significant economic presence’ in the country and influenced the exchange rates for the Naira.

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

Binance has exited the market since with speculation on whether that departure has helped fuel the rise in Naira valuation.

Diaspora Remittances, FX Market Reforms Fuel Gains

Cardoso emphasized the role of remittances from Nigerians abroad in supporting reserve accretion, describing them as a crucial source of foreign exchange. According to CBN commentary, engaging with the diaspora and facilitating easier cross-border flows has driven inflows that now make up a meaningful share of reserve accumulation.

These inflows arrive alongside broader trends in Nigeria’s external sector, with data from independent trackers showing reserves pushing above $47 billion, the highest in nearly eight years, as recent macro-economic adjustments take effect.

‘Those Who Feel They Have to Look for Other Means to Send Money Back Home No Longer Have To,’ Says Governor, Central Bank of Nigeria

Why Foreign Reserves Matter

Foreign exchange reserves serve as a buffer for countries, helping to stabilise their currency, meet external obligations, and cushion the economy against external shocks. In a country like Nigeria where oil exports dominate FX earnings and currency volatility has historically been a challenge, robust reserves are seen as an anchor for credibility and monetary stability.

A stronger reserve position also underpins investor confidence and provides the CBN with greater firepower to manage exchange rate pressures and liquidity, particularly important given ongoing efforts to normalise FX markets.

Economists and analysts now point to a continued build-up in reserves through 2026, with optimistic projections suggesting Nigeria could surpass $50 billion if current inflows persist and reforms continue to gain traction.

REGULATION | The Central Bank of Nigeria (CBN) Sets Up a Dedicated Working Group to Study Stablecoin Adoption in the Country

 

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The CEO of Flutterwave, Olugbenga ‘GB’ Agboola, has spoken about the company’s latest move to build stablecoin rails on top of its existing and compliant fiat rails.

Speaking at the 2026 World Economic Forum in Davos, GB said stablecoins speed up settlement times and in turn enables more turnaround and trade opportunity across the entire sales cycle.

 

Explaining how stablecoins work, GB said:

“Money doesn’t actually move, instruction moves, and when you use blockchain to move that instruction, you are creating a transparent way to move money without sacrificing the fiat guard rails. 

What it literally does is make it easier and quicker to move money especially in emerging markets where money movement is very very key dependent for growth in the economy.”

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

Being the most licensed non-bank fiat company in Africa and operational over the last 10 years, GB explained that the introduction of stablecoins does not change the company’s operations.

“When it comes to stablecoins, nothing is changing in our customer experience. You want to send money from Nigeria to South Africa or the United States, nothing is changing. 

What is changing is under the hood. We’re making it quicker and faster to move that money from the send to the business via stablecoin rails, via USDC, which is regulated, backed by the dollar, and just makes its quicker and faster.

Unlike most FIs [financial institutions] in the world, in Africa, you need a correspond bank first in order to move money via SWIFT rails. This takes away all that complexity and makes it simpler for money to move quicker yet with the entire infrastructure that guards money movement globally right now.”

ICYMI: Last week, Africa’s largest start-up and payments giant @theflutterwave – valued at $3bn – showcased their $USDC merchant settlement solution built on #Hedera with support from @The_Hashgraph Association’s #Hashgraph Enterprise Program.@BitcoinKE:https://t.co/FsNoYQHCpS

— Hedera (@hedera) October 9, 2023

The Send App Stablecoin Play

Giving an example of PayDay, GB said the company is enabling Nigerian engineers to be paid via stablecoins on Flutterwave.

GB also talked about the Send App consumer app and how the company is building the stablecoin backend infrastructure enabling the money to move in seconds.

STABLECOINS | Leading African Fintech, Flutterwave, Selects TurnKey to Power Verifiable Stablecoin Wallets Across Africa

Speaking on the costs, GB said:

“If you’re doing B2B payments, you can pay as low as 0.5% for example, compared to before through maybe a different rail which could be as high as 1.5%.

So there’s a lot of cost savings in there and yet a lot more efficiency as an entire infrastructure.”

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

When asked about the broader fintech space in Africa, GB highlighted products like PiggyVest and Bamboo for savings and investment which are solving real problems in Africa.

2025 RECAP | Nigerian Fintech, PiggyVest, Reports Highest-Ever Annual Payouts and Surpasses 6 Million Users in 2025

When it comes to VC investments, GB provided some valuable insights for anyone looking at Africa.

“I think being able to understand emerging markets is very key. You have to also have an interest in emerging markets, not just deploying dollars and stepping back. 

Startups need growth partners and investors, not just checks. Check are key, but beyond the checks, how do you help us to growth from Series A to Series B? How do we grow go-to market? How do you elp us to scale compliance? 

All of tht skill set helps a lot to actually help to grow to the next level as well.”

 

Speaking on the next 5 years, GB said:

“I think in the next five years, stablecoins will become so entrenched in the entire global financial infrastructure. We will see stablecoins that are even backed by non-US currencies over time.

For example, if you want to tokenize the Naira, it doesn’t have to leave Nigeria for that to happen. It can happen in Nigeria for Nigeria.

So, we will start seeing a lot of local stablecoins plays happening across each country and you will see a lot of companies issues their own stablecoins because now its democratized and bring the entire infra on-chain helping them become more efficient, save more money and also create more efficient treasury plays which were not possible before.

So in five years there will be a lot more companies having their own stablecoins and they can use that to meet at some point for acceptance.”

INTRODUCING | Africa’s First Regulated Stablecoin, the Nigerian Naira-Pegged Stablecoin, $cNGN, Goes Live on Local Nigerian Exchanges

When it comes to consumer usage, GB opined:

“I think the apps we use will still remain the apps we use. The underlying hood will change. So you like Venmo, you like PayPal, you like Cash App, that’s fine, but behind the scene you’ll start seeing money moving via stable rails.

The apps are not gonna change in my opinion. They might evolve yes, but the risks are going to keep changing, but the behavior o the consumer will not change.”

FINTECH AFRICA | Acquisition of Mono is a ‘Critical’ Part of the Stablecoin Strategy, Says Flutterwave

 

 

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Ghanaian crypto startup, Bitsika, has so-called ‘no-KYC’ crypto virtual cards – marketed as easy, anonymous ways for users in Africa to convert crypto into spendable fiat through VISA networks – are now attracting serious scrutiny from compliance experts and regulators.

We Processed about $40 Million and Registered Over 95K Users in 2020, Says BitSika CEO

What’s at stake isn’t just a fintech gimmick, it’s a potential breach of global anti-money-laundering (AML) and counter-terror finance (CTF) standards that could undermine the legitimacy of crypto services across the continent.

At the core of the controversy is how these cards claim to operate without Know-Your-Customer (KYC) identity checks, a foundational requirement under international AML/CTF rules. While Bitsika promotes its cards as a way to bypass traditional identity verification, even in jurisdictions with strict banking requirements, independent reviews highlight that ‘no-KYC’ card models in 2026 rely on legal loopholes and ambiguous issuing arrangements rather than true regulatory compliance.

This matters because financial regulators and global standard-setters, especially the Financial Action Task Force (FATF), make clear that virtual asset service providers (VASPs) and payment issuers must implement robust customer identification and verification to prevent misuse of digital financial tools for illicit finance. FATF’s Travel Rule and associated recommendations require crypto platforms and financial services to collect, verify, and share accurate user information whenever assets move across borders, just as traditional banks do.

REGULATION | FATF Crypto Compliance Checklist Raises Red Flags – Which African Countries Are Next?

Why Bitsika’s Model is Problematic

Claims of ‘no KYC’ raise red flags for AML/CTF compliance: In regulated markets, card issuance tied to traditional payment networks like Visa or Mastercard must meet strict identity verification standards — something no-KYC models can’t legally satisfy at scale.

Compliance loopholes are unstable: Industry compliance professionals have publicly warned that services promoting anonymity in financial products often leverage gaps or fraud-prone pathways, and can be shut down abruptly when legal scrutiny catches up.

FATF has specifically identified that many jurisdictions, including across Africa, struggle with implementing crypto compliance, leaving gaps that bad actors can exploit if products aren’t held to global AML/CTF standards.

The broader implication is significant: if crypto products marketed to Africans evade KYC and other safeguards, they risk being labelled as illegal financial instruments in key markets. Regulators may treat these services as unlicensed or non-compliant financial actors, exposing users and providers to enforcement actions. This dynamic could damage trust in the crypto industry already under pressure from global regulators pushing for higher transparency and accountability.

For African crypto markets, which regulators and investors are watching closely as part of efforts to enhance financial infrastructure and retreat from global grey-list status, the emergence of non-compliant services could be a setback. It undermines efforts to legitimise digital assets as safe, transparent parts of the financial system rather than shadows acting outside regulatory norms.

REGULATION | Kenyan CEOs Now Risk 7-Year Jail Term, Employment Ban, Under Tougher Anti-Terrorism & AML Laws – What This Means for Crypto

 

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Over the past week, one of the most unheralded yet impactful moves in crypto unfolded within Binance, the largest crypto exchange globally.

Binance’s Secure Asset Fund for Users (SAFU), the exchange’s insurance-style reserve for covering extreme losses, hacks, or system failures, has been aggressively converting its holdings from stablecoins into Bitcoin (BTC).

 

Binance announced a 30-day strategic shift of its SAFU fund, originally dominated by stablecoins, into Bitcoin. The goal is to convert $1 billion of SAFU reserves into BTC to strengthen long-term protection and reduce counterparty risk tied to stablecoins.

This isn’t Binance ‘buying the dip,‘ but rather systematic reserve rebalancing designed to allocate roughly ~$33 million daily into BTC to avoid market shocks.

2025 RECAP | 2025 Was the Deadliest Year on Record for Crypto Projects – Over Half Died Fueled By MemeCoins

Thanks to transparent on-chain disclosures and multiple independent news reports, here’s how the conversion has played out:

1,315 BTC (~$100 million) – first tranche completed early in February as part of the rollout.

Another 1,315 BTC (~$100 million) – boosting holdings to ~2,630 BTC.

3,600 BTC (~$233 million) – mid-week addition that brought total to about 6,230 BTC.

4,225 BTC (~$300 million) – latest transfer reported on February 9, pushing SAFU’s BTC stash past 10,000 BTC for the first time.

That puts the SAFU Bitcoin reserve at ~10,455 BTC, with a current notional value approaching three-quarters of a billion dollars and roughly 73% of Binance’s original $1 billion conversion target completed.

While large BTC acquisitions don’t dictate price direction on their own, they do reflect a broader shift: major exchanges treating Bitcoin not just as a tradable asset but as a cornerstone of financial resilience. If other platforms follow suit, institutional demand narratives could strengthen.

At the very least, Binance’s SAFU conversion is now one of the largest centralized Bitcoin accumulations outside of typical treasury strategies, and a story worth watching as the 30-day conversion window plays out.

MILESTONE | The World’s Largest Public Bitcoin Holder Now Owns Over 700,000 Bitcoins

 

 

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According to Bloomberg, Chinese financial authorities have advised domestic banks to limit new purchases of U.S government bonds and reduce positions where exposure is high citing concerns about market volatility and concentration risk.

This guidance has sparked speculation that China may be cutting back on U.S. government bonds, but that doesn’t amount to an aggressive sell-off or a new strategic weapon. Analysts on Bloomberg note this is not a sudden ‘sell America’ trade but part of a longer-term shift.

DOLLARISATION | Leading Global Bank Warns of Potential Dollar Crisis Amid Trade Tensions

Data Reveals China’s Share is Falling, But Slowly

Official U.S. Treasury data and multiple financial sources show that:

China’s holdings of U.S. Treasuries have been on a multi-year downward trend, declining from over $1.3 trillion a decade ago to levels below $700–800 billion in recent reporting.

As a result, China is no longer the largest foreign holder of U.S. government debt. Japan has overtaken Beijing, with Tokyo’s holdings near or above $1 trillion, while China lags behind Japan and even the United Kingdom in some datasets.

Despite the decline, China still ranks among the top foreign holders, just no longer first. Foreign holdings overall remain substantial, with global investors and central banks holding a record amount of U.S. Treasuries even as China pulls back in relative terms.

EXPERT ANALYSIS | ‘In Emerging Markets, High Penetration of USD-Linked Stablecoins in Particular, Weaken Monetary Transmission,’ Warns Moody’s Ratings

Why China Has Been Reducing its Position

The reasons are less about geopolitics alone and more about risk management and reserve diversification:

China has deliberately reduced its exposure to U.S. debt to mitigate concentration risk and to promote broader diversification of its foreign reserves.

Beijing has been accumulating other assets such as gold and overseas equities, part of a longer-term strategy to rebalance reserve portfolios and lessen reliance on U.S. dollar assets.

The reduction has happened gradually over many quarters and years – it’s a continuation of a trend that started as far back as the early 2010s.

 

Despite headlines suggesting a “major dump” of U.S. Treasuries:

Markets have not seen dramatic or destabilizing sell-offs attributable to China. Moves in yields and the dollar reflect broader global factors – including inflation expectations, U.S. fiscal policy, and global demand from a wide array of investors.

Commentators on Bloomberg have emphasized that periodic trimming of holdings is normal and part of reserve management rather than an outright strategy to weaponize U.S. debt.

REGULATION | ‘Forced De-Dollarization Measures Are Likely to Prove In-Effective,’ IMF Official Says to Zambia

China isn’t suddenly dumping U.S. Treasuries in a tit-for-tat geopolitical move. Instead:

Beijing is reducing its exposure gradually, part of a longer-term rebalancing of reserves.

Japan has surpassed China as the largest foreign holder of U.S. government debt.

Global foreign holdings of Treasuries remain elevated, even as China’s share shrinks.

REGULATION | ‘We Are on a De-Dollarisation Journey,’ Says Zimbabwe Reserve Bank Governor as Gold Reserves Rise By 30% in 100 Days

 

 

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A new report from Wall Street investment bank Jefferies says Tether’s physical gold holdings have climbed to at least roughly 148 tonnes, giving the stablecoin issuer a bullion stash valued at more than $23 billion, a total that places it among the top 30 gold holders worldwide.

According to Jefferies’ analysis, Tether’s quarterly gold purchases have outpaced most sovereign buyers such as:

Australia

United Arab Emirates (UAE)

Qatar

South Korea

Greece

with only a few central banks, including:

Poland and

Brazil

reporting higher net additions.

The gold is held as part of reserves to back both Tether’s flagship dollar-pegged token USDT and its gold-linked token XAU₮. Interestingly, the report notes that, because Tether is a private company, the estimated 148 tonnes likely represents a floor rather than a precise total.

The move towards diversifying its stablecoin reserves comes after the stablecoins crossed $300 billion in market cap (58% growth YoY) for the first time in October 2025 with analysts predicting the market could hit $500 billion and possibly $1 trillion by the end of the decade.

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

Stablecoin companies, with Tether leading in the pack, are already among the top 20 holders of U.S debt and the only non-sovereign debt holders in the list.

A look at the XAU₮ supply reveals that there were 712,000 tokens worth ~$3.2 billion by end of January 2026. This is an increase of 6 tonnes of token back. Interestingly, Tether CEO, Paolo Ardoino, recently revealed that the gold-back is being driven by a strong retail demand mainly from emerging markets.

The accumulation comes at a time when gold has seen a record-breaking high crossing $5,000 per ounce for the first time in history – a 50% rise since September 2025.

MILESTONE | Gold Hits Historic High and Nearly Adds Bitcoin’s Entire Market Cap in a Single Day

Jefferies also pointed out that by the end of 2025, Tether’s audited USDT reserves included approximately $17 billion worth of gold, underscoring how significant physical gold has become in the company’s asset mix.

2025 RECAP | Tether (USD₮) Reports Over 500 Million Users and Over $10 Billion in Profit for 2025

 

 

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The Governor of the South African Reserve Bank, Lesetja Kganyago, has warned that the rising popularity of stablecoins poses a significant risk, saying there is a danger these cryptocurrency assets could ‘break apart.’ 

Addressing the 2026 Warwick Economics Summit, Kganyago stressed the responsibility of central banks to ‘protect the oneness of money and the affordability of money to the public.’ He said stablecoins, which are digital tokens typically backed by assets that aim to maintain a fixed value, have gained traction around the world, including in South Africa, as users seek alternatives to traditional currencies.

 

“The truth of the matter is that these things could break apart,” Kganyago said, highlighting concerns about the structural soundness of stablecoins and the potential implications for financial systems if they fail or fragment.

 

His remarks underline the broader unease among policymakers in emerging markets about the rapid expansion of digital assets that operate outside existing regulatory frameworks, even as adoption grows among investors and everyday users.

Kganyago’s remarks come against a broader backdrop of caution from the South African Reserve Bank (SARB), which in late 2025 flagged both crypto assets and stablecoins as emerging financial stability risks in its annual Financial Stability Report.

REGULATION | South African Central Bank Warns ‘Crypto & Stablecoins Pose Financial Stability Risk’

The 2025 report noted a sharp increase in adoption: combined users on the country’s three largest crypto exchanges climbed to nearly 7.8 million by mid-2025, with trading volumes in USD-pegged stablecoins surging as their lower volatility made them the preferred trading pair on local platforms.

SARB warned that the borderless nature of stablecoins and other digital assets could be used to sidestep South Africa’s exchange control regulations, potentially facilitating unmonitored capital flows and complicating oversight.

REGULATION | South African Reserve Bank Moves Quickly to Block Crypto Loophole, Files Appeal Against High Court Ruling on Exchange Controls

Unlike regulated financial instruments, many stablecoins currently operate without a comprehensive legal framework leaving regulators with limited data on their adoption and systemic interlinkages and creating conditions where risks could build up undetected and spread into the broader financial system.

REGULATION | South Africa Reserve Bank to Publish Regulatory Framework in 2025 to Cover Business Activities for CASPs, Says Finance Minister

The central bank highlighted that without stronger regulatory guardrails, particularly for global stablecoins and the custodial entities that issue them, the country’s financial system could be more vulnerable to shocks.

This stance contrasts with other regulatory initiatives in South Africa, such as the Financial Sector Conduct Authority’s classification of certain crypto assets as financial products and the licensing of exchanges, but SARB’s warnings underscore a persistent unease about digital assets’ capacity to compromise monetary control and financial stability.

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

 

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The Nigeria financial technology industry expanded by an impressive 70 per cent in 2025, even as global economic conditions remained tough, the Central Bank of Nigeria (CBN) has reported.

The growth figures are part of the CBN’s latest report titled “Shaping the Future of Fintech in Nigeria: Innovation, Inclusion, and Integrity”, which highlights Nigeria’s rising position as a major digital finance hub in Africa.

According to the banking regulator, the surge in fintech activity reflects stronger domestic economic stability and a renewed focus on digital transformation, which has helped evolve the sector from a group of emerging startups to one of the continent’s most dynamic innovation ecosystems.

2025 RECAP | Nigerian Fintech, PiggyVest, Reports Highest-Ever Annual Payouts and Surpasses 6 Million Users in 2025

CBN Governor, Olayemi Cardoso, said that despite global headwinds, Nigerian fintech companies continued to attract investment and drive industry change.

He noted:

“With improved stability of our currency and domestic economy, it is clearer than ever that financial innovation can advance inclusion at scale.”

 

However, the report also warned of obstacles that could slow future growth.

These include:

Increased compliance costs related to fraud prevention

Anti-money-laundering requirements and

Regulatory delays that are slowing the rollout of new products.

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

Industry stakeholders also flagged technical challenges that could hamper expansion. About half of those surveyed described the fintech ecosystem’s interoperability as weak, citing fragmented API standards and data protocols. Meanwhile, 37.5 per cent pointed to limitations in digital identity systems and a lack of solid credit histories as barriers to broader financial service delivery.

The report referenced the strain on payments infrastructure during peak periods, such as the busy “Detty December” season, illustrating how spikes in travel, remittances, and wage disbursements put pressure on systems.

To sustain the momentum, the CBN outlined policy measures aimed at balancing innovation with financial stability. These include a proposed shared fraud-intelligence model, regulatory passporting to support cross-border expansion in Africa, and the use of open banking and tiered KYC frameworks to broaden access to financial services.

The central bank said that by strengthening collaboration between regulators and innovators, Nigeria’s fintech sector can continue to be a driver of economic growth and a model for financial inclusion across the continent.

FINTECH AFRICA | PayPal is Back in Nigeria – This Time Through Paga, and Crypto Is the Quiet Catalyst

 

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Bitcoin has endured one of its sharpest downturns in recent weeks, sliding over 40% in a month to a 2026 low of about $60,000, and is now more than 50% below its October 2025 all-time high near $126,200.

Analysts are debating what triggered this steep sell-off, with a few key theories gaining traction.

 

_______________

Key takeaways:

Leveraged options bets by Hong Kong hedge funds may have sparked the initial sell-off.

Structured finance hedging by large banks could have compounded the decline.

Miner strategy shifts and hash rate stress are also being cited as contributing factors.

 

1.) Hong Kong Hedge Funds’ Leveraged Bets

One of the leading explanations points to hedge funds in Hong Kong that heavily leveraged positions on Bitcoin, particularly through options tied to spot Bitcoin ETFs such as BlackRock’s IBIT. According to market insiders, these funds borrowed cheap Japanese Yen, converted it into other currencies, and deployed it into risky crypto bets.

When Bitcoin’s price stopped rising and borrowing costs on yen climbed, these leveraged positions began to deteriorate. Lenders then demanded additional margin, forcing positions to be unwound and assets, including Bitcoin, to be sold quickly, intensifying downward pressure on prices.

05.02.2026 pic.twitter.com/IC18tSBjGr

— BitKE (@BitcoinKE) February 5, 2026

2.) Structured Products and Bank Hedging – The Morgan Stanley Angle

Former BitMEX CEO, Arthur Hayes, has suggested that U.S. banks, including Morgan Stanley, may have been compelled to sell Bitcoin or related instruments to hedge exposure tied to structured products linked to spot BTC ETFs.

Such products often require dealers to routinely hedge their risk by selling underlying Bitcoin or futures. When key price thresholds are breached, for example near $78,700, the hedging becomes more aggressive, forcing dealers from net liquidity providers into sudden sellers, which can amplify downward moves in BTC’s price.

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

3.) Miner Shifts and Hash Rate Declines

A third theory, though less widely discussed, centers on moves by some Bitcoin miners toward AI data center businesses. This miner ‘pivot’ has reportedly contributed to a drop in the Bitcoin network’s hash rate by as much as 10-40% which some analysts view as a negative signal for miner profitability and confidence.

For instance, several mining firms announced plans to diversify into AI infrastructure, selling portions of their Bitcoin holdings.

At the same time, metrics like the Hash Ribbons indicator have flashed warnings, reflecting miner stress. With production cost estimates rising and miners’ break-even figures approaching current price levels, any further drop below $60,000 could increase selling pressure from this group.

MILESTONE | Gold Hits Historic High and Nearly Adds Bitcoin’s Entire Market Cap in a Single Day

 

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On February 6, 2026, the People’s Bank of China (PBOC) together with seven major Chinese regulatory bodies issued a sweeping regulatory directive tightening controls on cryptocurrency-related activity, specifically targeting Yuan-pegged stablecoins and the tokenization of real-world assets (RWAs).

The notice, jointly released by,

the PBOC,

the China Securities Regulatory Commission (CSRC),

Ministry of Industry and Information Technology, and

other financial agencies

reaffirmed China’s long-standing prohibition on crypto while adding new layers of control over digital financial products that have proliferated in global markets.

The Central Bank of China Officially Bans Banks and Payment Institutions from Accepting Crypto Transactions

What the New Directive Actually Says

At its core, the directive states:

Unapproved issuance of stablecoins pegged to the Chinese Renminbi (RMB) is strictly forbidden, whether issued inside China or by offshore firms targeting Chinese users.

Tokenized real-world assets (RWAs) such as blockchain-represented equities, bonds, or property cannot be issued or traded in China without explicit regulatory approval.

Overseas entities owned or controlled by Chinese firms may not issue virtual currencies or RWA tokens to mainland users, effectively extending China’s regulatory reach beyond its borders.

The six other government ministries joined the PBOC in denouncing all virtual-currency activities as ‘illegal financial activities,‘ echoing previous pronouncements that classify crypto trading and issuance as unlawful within China.

Chinese state media described the move as intended to ‘safeguard economic and financial order’, with regulators citing risks from speculation, capital flight, fraud, money-laundering, and damage to household financial security.

TOKENIZATION | ~10,000 Luno Users Purchase Tokenised U.S. Stocks in First Month

 

Why China Is Doubling Down Now

This latest directive is widely seen as both a continuation and an escalation of China’s multi-year policy pivot away from decentralized cryptocurrencies and private stablecoins toward a state-managed digital ecosystem:

In September 2025, Beijing ordered private stablecoin pilots to pause amid regulatory uncertainty, even as discussions had earlier circulated about legalizing Yuan-pegged tokens.

In January 2026, the PBOC approved interest-bearing wallets for China’s central bank digital currency (CBDC), the e-CNY, signaling a strategic preference for state-issued digital money over privately issued alternatives.

This new ban explicitly brings tokenized RWAs into the prohibited category for the first time, marking China’s most comprehensive crypto crackdown since the 2021 mining ban that drove most global Bitcoin hashrate out of the country.

Analysts and industry observers note that regulators fear stablecoins and tokenized assets could be used to circumvent China’s strict capital controls, undermine monetary sovereignty, and create off-balance-sheet financial risks outside traditional oversight frameworks.

 

The Chinese approach starkly contrasts with regulatory developments in many other major economies:

The United States, through pending stablecoin legislation like the Stablecoin TRUST Act and GENIUS Act, is moving toward a regulated framework that integrates stablecoins into the financial system with consumer protections.

The European Union’s MiCA regulation has established clear rules for stablecoin issuers under EU law, aiming to balance innovation with financial stability.

Hong Kong recently passed a stablecoin regime requiring licensing and reserve standards, positioning itself as a regulated alternative to mainland restrictions.

In this global landscape, China’s policy effectively de-prioritizes private stablecoin and RWA innovation, instead channeling digital asset advancement into the state CBDC (e-CNY) and tightly supervised financial markets.

‘If You Go to Africa, You Don’t See U.S There But China . . . We’re the Last Stronghold of U.S. Dollar Hegemony,’ Says CEO of Tether

Market and Industry Reaction

Crypto markets reacted to reporting of the ban with short-term volatility, particularly affecting assets tied to stablecoin liquidity and tokenized products, though global sentiment remains mixed given China’s already long-standing hostility toward decentralized crypto activities.

Industry participants outside China view the move as a regulatory redrawing of the innovation map, pushing stablecoin and RWA development toward jurisdictions with clearer, more permissive frameworks.

 

China’s latest regulatory notice doesn’t just reaffirm its anti-crypto stance, it formalizes a wider ban on stablecoins and real-world asset tokenization with extraterritorial reach.

The message is clear: any digital financial activity that masquerades as or functions like money outside strict state control is unwelcome, and China’s digital future will be built on its own terms centered on the digital Yuan and tightly regulated financial infrastructure.

BANKING | Standard Bank Becomes First African Bank to Connect Directly to China’s Cross-Border Payment System (CIPS)

 

 

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________________________________________________

 Tether, the company behind USDT, the largest stablecoin, has announced a strategic investment in t-0 Network, a USD₮-powered settlement platform for licensed financial institutions, to enable instant, cost-effective cross-border payments.

Positioned as a competitor to the Circle Payments Network, the Tether network uses USDT exclusively as the settlement layer to enable near-instant, low-cost cross-border payments between licensed financial institutions.

t-0 network is a proprietary payments solution that connects financial institutions worldwide, enabling banks and fintechs to coordinate cross-border fiat-to-fiat payments with near-instant settlement and minimal fees by leveraging stablecoins as the core settlement infrastructure. This innovative approach

reduces foreign exchange (FX) exposure,

lowers capital requirements,

creates new revenue opportunities for members worldwide, and

eliminates the complexity of traditional banking.

INTRODUCING | The Circle Payments Network Mainnet Is Now Live!

t-0 network enables international payments to function like local transactions. Each side of a transaction pays or receives funds in their local currencies, while t-0 network’s global ledger records and matches transactions across financial institutions before settling balances, ensuring transparency and accuracy.  The network operates as a trusted, non-custodial infrastructure that enables secure, on-chain movement of funds between licensed partners. It connects licensed institutions through a single API and settles only the net balance at each partner’s chosen currency, delivering a more reliable and transparent model for international payments. 

USD₮ is a widely used digital dollar with deep global liquidity, making it accessible to businesses and individuals worldwide. t-0 network builds on this foundation to deliver regulated, programmable settlement between financial institutions, transforming USD₮’s global liquidity into an institutional-grade network for near instant, compliant cross-border value transfers.

 

“At Tether, we believe financial freedom should be easily accessible to everyone, and we are committed to delivering this through infrastructure that is fast, transparent, and globally scalable. The t-0 network directly addresses the complexity of international payments by combining real-time settlement, cost efficiency, FX transparency, and global reach.

We are excited to support a platform that is transforming cross-border payments into a seamless, trusted experience for institutions worldwide,” said Paolo Ardoino, CEO of Tether.

STABLECOINS | Yellow Card Joins the Circle Payments Network to Expand $USDC Access Across Africa

 

“We built t-0 network to make borderless economic connection a reality,” said James Brownlee, CEO of t-0 network.

“Our goal is to make global payments feel local, whether you’re a fintech in London or a bank in Buenos Aires. With Tether’s support, we’ve developed the infrastructure to remove friction between developed and emerging markets, enabling institutions everywhere to connect, transact, and grow on equal terms.”

 

This initiative underscores Tether’s commitment to supporting innovative financial infrastructure that enables real-world use cases for USD₮ and promotes global financial inclusion.  

 

 

______________

About t-0 Network Network 

t-0 network Network is rebuilding the infrastructure of global payments for the stablecoin era. Designed for banks, fintechs, and payment institutions, t-0 network connects licensed partners through a single API, enabling instant, programmable settlement across borders. Its patented net-settlement mechanism dramatically reduces FX and capital costs while unlocking new volume and revenue opportunities for members.

Supported by Tether, the world’s largest stablecoin issuer, t-0 network is powered by USD₮, the most liquid and widely used digital dollar. By leveraging this liquidity, the t-0 network provides financial institutions with a compliant, stable, and instantly accessible settlement layer.

2025 RECAP | Tether (USD₮) Reports Over 500 Million Users and Over $10 Billion in Profit for 2025

 

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Zimbabwe’s Financial Securities Exchange (FINSEC Zim) has received regulatory approval to operate the country’s first asset tokenisation market, a ground-breaking development for digital finance and capital markets in the region.

The Securities and Exchange Commission of Zimbabwe (SEC Zim) granted the licence under its regulatory sandbox framework, enabling FINSEC to pilot tokenised trading of real-world assets in a controlled, supervised environment.

 

A Milestone for Digital Finance and Market Modernisation

The approval marks a significant shift in Zimbabwe’s financial landscape, introducing a regulated structure for converting ownership interests in physical assets, starting with property, into digital tokens that can be issued, traded, and settled on a blockchain-enabled platform.

Under the sandbox framework, SEC Zim allows innovations to operate with real users while closely monitoring risks and regulatory compliance ahead of broader market rollout. This approach balances innovation with investor protection and risk oversight.

FINSEC Zimbabwe, established in 2016 as a licensed Alternative Trading Platform (ATP) and part of the Escrow Group, operates an automated electronic exchange for securities, including equities and derivatives. The addition of an asset tokenisation market expands its remit into digital asset infrastructure.

REGULATION | Zimbabwe Officials Announce Steps to Evaluate Local Crypto Sector And Introduce a Regulatory Framework

What Asset Tokenisation Means

Asset tokenisation involves digitising economic rights in real-world assets – such as property, livestock, or agribusiness equipment – into digital tokens on a blockchain or distributed ledger. Unlike traditional cryptocurrencies, these tokens are fully backed by identifiable underlying assets and issued within existing legal, custodial, and regulatory frameworks.

This legal and technological fusion is designed to unlock liquidity from traditionally illiquid assets, enable fractional ownership, and broaden access to investment opportunities for retail, institutional, and diaspora investors. Fractionalisation allows investors to buy smaller portions of high-value assets, lowering barriers to entry and democratising investment.

LAUNCH | Zimbabwe Introduces the ZiG Gold-Backed Digital Currency for Use as a ‘Means of Payment for Domestic Transactions’

Platform Design and Regulatory Safeguards

According to FINSEC Zimbabwe, the approved market infrastructure will support the full lifecycle of tokenised assets from origination, due diligence, issuance, and trading, to settlement, custody, and reporting.

The platform will be built on a secure, blockchain-enabled system that provides immutable audit trails, programmable compliance via smart contracts, and real-time regulatory oversight.

Key compliance and investor protection features include:

Escrow-based settlement and segregation of investor funds

Independent asset valuations and insurance coverage where applicable

Full KYC (Know Your Customer), AML (Anti-Money Laundering), and investor suitability controls

Regulated secondary trading to enhance liquidity

These safeguards aim to provide confidence for both issuers and investors operating within the nascent tokenised asset market, ensuring transparency and risk mitigation under regulatory supervision.

OPINION | Africa’s Capital Market Opportunity: Is Tokenization the Secret Key to Unlock Africa’s Economic Potential? – By CEO, Nairobi Securities Exchange (NSE)

The first asset classes approved for tokenisation include income-generating and development property. Each tokenised offering must be backed by verifiable assets, subject to independent valuation, and supported by custodial oversight.

For asset owners such as property developers, farmers, and agribusiness operators, the tokenisation market represents a new capital-raising channel that complements traditional bank financing. For investors, particularly those previously excluded due to high minimum investment thresholds or illiquidity, it opens access to a broader array of asset-backed opportunities.

Market Reception and Future Outlook

Market analysts view FINSEC Zimbabwe’s approval as a major step toward deepening Zimbabwe’s capital markets and integrating digital finance into the broader economy. By channeling savings into productive sectors and lowering entry barriers for investment, the initiative could spur both financial inclusion and economic growth.

FINSEC plans to launch its first pilot tokenised asset offerings once issuer onboarding and investor education initiatives are finalised under SEC Zim’s sandbox regime.

INTRODUCING | Zimbabwe Launches Blockchain-Based Carbon Credit Registry to Boost Transparency and Investor Confidence

 

 

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___________________________________________

United States Treasury Secretary, Scott Bessent, told lawmakers that traditional banks and the crypto industry could eventually provide products and services that resemble one another.

Speaking before the Senate Banking Committee, Bessent was asked by Republican Senator, Cynthia Lummis, whether there might come a point when traditional banks and crypto firms are offering the same kinds of financial products. He replied that he believes that could happen over time, adding that the Treasury has been engaging with small and community banks on how they might participate in the digital asset space.

Bessent also pressed for clearer regulations around crypto, saying it’s ‘impossible to proceed’ without defined rules. He urged support for the CLARITY Act, a major crypto market structure bill currently stalled in Congress. Bessent went so far as to suggest that those opposed to the legislation ‘should move to El Salvador.‘

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

On the legislative front, the crypto market structure bill has hit a standstill in the Senate Banking Committee. Lawmakers from both parties have been at odds over provisions, including proposed limits on stablecoin yields that some crypto firms, such as Coinbase, have opposed.

Bessent emphasized that avoiding volatility in deposits, whether at banks or within stablecoin systems, is critical, since deposit stability underpins the ability of banks to lend to households and businesses. He said the Treasury would continue working to ensure that deposit outflows do not destabilize the financial system.

Several crypto companies have offered potential compromises, including expanding the role of community banks in the stablecoin ecosystem, in an effort to help advance the stalled legislation.

REGULATION | The Office of the Comptroller of the Currency (OCC) Clears National Banks to Act as Intermediaries in Crypto Transactions

 

 

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___________________________________________

Flutterwave’s latest engineering update offers a rare behind-the-scenes look at how the company is building what it calls Africa’s largest stablecoin infrastructure – a blockchain-based payments backbone designed to place digital value directly into the hands of businesses and consumers across the continent.

At its core, the project is about taking stablecoins – USDT, USDC, and others – beyond speculation and into everyday value movement: low-cost transfers, reliable conversions, and predictable settlement behaviour across fiat and digital rails. The team has already validated live end-to-end flows for inbound and outbound stablecoin transfers and conversions between NGN, USD and major token standards.

The effort is far more than a product sprint – it reflects a deep pivot in Flutterwave’s technology stack toward blockchain-native infrastructure that is predictable, explainable, and intentionally designed to behave exactly as users expect, even in edge cases.

STABLECOINS | Leading African Fintech, Flutterwave, Selects TurnKey to Power Verifiable Stablecoin Wallets Across Africa

Engineering Meets Real-World Value

What distinguishes this initiative from earlier blockchain experiments is the focus on operational realism:

Robust bookkeeping for transparent value movement

Stablecoin flows that behave consistently in diverse network conditions

Support for millions of users from launch day

This isn’t about proving that blockchain works in theory – it’s about deploying it at scale in a payments ecosystem that already moves billions of dollars annually.

ICYMI: Last week, Africa’s largest start-up and payments giant @theflutterwave – valued at $3bn – showcased their $USDC merchant settlement solution built on #Hedera with support from @The_Hashgraph Association’s #Hashgraph Enterprise Program.@BitcoinKE:https://t.co/FsNoYQHCpS

— Hedera (@hedera) October 9, 2023

Why Flutterwave’s Acquisition of Mono Matters

A key element in this puzzle is Flutterwave’s January 2026 acquisition of Nigerian open-banking API provider Mono, a move that has largely flown under the radar outside finance circles.

FINTECH AFRICA | Flutterwave Acquires Nigerian Open Banking Startup, Mono – A Strategic Leap Toward Tokenized Financial Infrastructure

Mono, often dubbed ‘Africa’s Plaid,’ brings capabilities that go far beyond account connectivity:

Bank account linking and identity verification at scale

Direct bank transfer capabilities

Data-driven risk scoring and richer customer profiles

By integrating these functions into its core stack, Flutterwave isn’t just adding open-banking, it’s deepening its infrastructure layer to power customer onboarding, compliance, and fiat-to-stablecoin workflows under one roof. That matters because stablecoin rails depend on seamless interaction with traditional banking systems. Without reliable bank connectivity and risk controls, tokenised value can’t flow safely into and out of fiat systems.

Put simply: Mono’s capabilities help bridge the world of regulated financial data with blockchain-native value settlement. That’s essential when you’re talking about holding and moving customer funds at scale.

 

From Partnerships to Product Activation

This engineering push also complements Flutterwave’s ongoing blockchain strategy. In late 2025, the company announced a multi-year partnership with Polygon Labs to make Polygon’s layer-2 blockchain the default network for stablecoin payment rails – supporting low-cost, near-instant settlements across more than 30 African markets.

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

Together, these moves signal that Flutterwave isn’t experimenting with crypto on the side – it is architecting a hybrid payments stack where:

Open banking ensures trusted bank connectivity

Blockchain rails enable instant, low-fee settlement

Stablecoins serve as the bridge between fiat and tokenised value

 

If Flutterwave delivers on this engineering vision:

Businesses will be able to settle cross-border transactions faster and more affordably

Consumers could enjoy more predictable and transparent payment flows

Developers and partners will have a data-rich, blockchain-enabled stack to build on

It’s a bold bet moves beyond payments gateways and into financial infrastructure and it looks like Flutterwave is betting on this to work.

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

 

 

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