Cape Town has emerged as a crypto hub in Africa, hosting several annual conferences and boasting a growing number of crypto projects and companies. The city is home to three major crypto exchanges: OVEX, Luno, and Circle-backed VALR. Local businesses have also started accepting cryptocurrency, with over 2,000 stores allowing purchases with BTC. Despite strict regulatory controls around international money transfers, cryptocurrencies, particularly stablecoins, are providing alternative solutions for non-citizens and migrants sending money to their home countries.