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The CEO of Wapi Pay, one of the leading fintechs in Kenya, has confirmed that its Singapore entity is leveraging stablecoins for transactions.

While speaking on the sidelines of the Africa Tech Summit 2026 at an event organized by Chainalysis, the leading blockchain analytics company, Eddie Ndichu spoke on how the company is evolving into leveraging stablecoins.

 

In a snippet, Eddie said:

“All our transactions sit in our core platform and what is interesting and unique is we’re able, as the Singapore entity, to use stablecoins or virtual assets, and the ability to trace and track a transaction is far better than the way you track a transaction on the SWIFT network. 

Being able to track a transaction is very powerful on a blockchain. Its far more powerful than chasing a transaction between core banking systems.

Remember, fintech is an API between two ledgers. We’re evolving away from an API between two ledgers into a blockchain where you can access all transactions and permissions are done by all participants into that one ledger. 

And that’s differentiation here.”

 

According to a February 2025 report, Wapi Pay had over one million registered suppliers and beneficiaries in Asia with over one million registered merchants, traders and businesses in Africa. The company reported impressive growth in 2024 by processing ~KES 50 billion (~$400 million) in diaspora remittances.

MILESTONE | Kenyan Fintech, WapiPay, Processed ~KES 50 Billion (~$400 Million) in Diaspora Remittances in 2024 Alone

 

African Fintechs Move Toward Stablecoins

The shift toward the use of stablecoins is hardly surprising as an increasing number of fintechs, particularly across Africa, openly talk about how they’re building stablecoin infrastructure in-house.

 

Olugbenga ‘GB’ Agboola, the of Flutterwave, one of the leading fintechs in Africa, 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.

 

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.

STABLECOINS | ‘We’re Building Using Fiat Infrastructure Powered by Stablecoins,’ Says CEO, Flutterwave

PayStack, another successful Nigerian fintech, has also likewise revealed that its next decade will focus on stablecoins as a major theme. The company said it is finalizing a stablecoin license in a key market as looks at how the next 10 years will look like for the fintech.

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

 

NALA, an East-African fintech, has also revealed a partnership to enable stablecoin collections while leveraging its regulated on-and-off-ramp. NALA will allow businesses to receive stablecoins and its partner, Noah, handles the onboarding, KYC/AML compliance, and transaction monitoring, providing a regulated gateway into the stablecoin ecosystem.

Once funds are converted into stablecoins, they will pass into NALA’s Rafiki payments infrastructure API which is designed specifically to enable stablecoin transactions which terminate directly with local banks and mobile money networks across the markets it operates in.

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

 

 

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A Ruble-linked stablecoin that was barely known outside Russia a year ago saw the fastest growth of any stablecoin over the past 12 months, exceeding the expansion of both Tether’s USDT and Circle’s USDC. Despite Western sanctions targeting Russia and related crypto infrastructure, the token – known as A7A5 – added roughly $90 billion to its supply in 2025, outpacing the dollar-pegged market leaders.

A7A5 was created to support cross-border payments at a time when traditional banking access has been restricted, and it has grown rapidly even as international pressure has mounted.

While USDT and USDC dominate the global stablecoin market with dollar pegs and deep liquidity, A7A5’s rapid issuance and adoption within its niche segment meant its net supply growth in 2025 outstripped both even though its total market size remains smaller. This sharp rise was driven by strong use in payments and settlement flows that bypass traditional bank rails, where sanctions have cut off many Russian entities from international finance.

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

A7A5’s Origins and Purpose

A7A5 was launched in early 2025 by a payment-oriented company called A7 LLC. It’s pegged one-to-one with the Russian ruble and backed by ruble deposits held at traditional banks, including Russia’s Promsvyazbank, a state-linked lender. The coin was initially marketed as a digital settlement tool for cross-border trade, particularly for Russian firms that faced growing restrictions accessing the global banking system.

The token operates on public blockchains such as Ethereum and TRON and quickly attracted activity from tens of thousands of addresses, with nearly 250,000 transfers recorded in under a year.

As of January 2026, over 35, 500 accounts held A7A5, up from 14, 000 accounts in July 2025 with just over 42.5 billion A7A5 in circulation with a dolla value of $547 million.

Sanctions and Regulatory Pushback

Growth hasn’t occurred in a vacuum. Western governments have singled out A7A5 and related infrastructure as part of broader sanctions pressure on Russia’s financial system. In August 2025, U.S. authorities imposed sanctions on entities linked to the coin’s ecosystem, and the European Union later blacklisted the token itself, describing it as a vehicle used to skirt international financial restrictions tied to geopolitical conflicts.

The sanctions have had a tangible impact: issuance of new A7A5 tokens has stalled since mid-2025, and daily transaction volumes have fallen sharply from peaks of about $1.5 billion to levels closer to $500 million. Some decentralized exchanges have even blocked the token from trading interfaces, and users trying to bridge A7A5 into mainstream stablecoins have reported freezes on their dollar-linked assets.

However, transaction numbers increased significantly in late September 2025, due to the introduction of the ability to purchase A7A5 with PSB bank cards.

Despite these headwinds, cumulative on-chain activity for A7A5 has still exceeded $100 billion in total transactions less than one year since its debut, according to blockchain analytics firm, Elliptic.

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

Broader Ecosystem Implications

Analysts say A7A5’s rise illustrates a key challenge in global finance: when traditional banking access is restricted, actors may turn to blockchain-based rails to move value. Regulators worry this could weaken the effectiveness of sanctions and complicate oversight, because stablecoins like A7A5 can facilitate rapid cross-border flows outside established compliance frameworks.

At the same time, sanctions and exchange controls have demonstrated that enforcement can constrain such systems slowing growth, reducing liquidity, and limiting access to major stablecoin networks.

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

 

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In 2025, tokenized gold assets played a major role in the expansion of real-world asset (RWA) tokenization on blockchains, contributing roughly 25% of total net growth for the year after experiencing a 177% increase in market capitalization.

According to data compiled by CEX.IO from on-chain sources, the value of tokenized gold climbed from about $1.6 billion to $4.4 billion in 2025. That near-$2.8 billion gain alone accounted for a significant portion of the RWA market’s net inflows, outpacing growth in tokenized stocks, corporate bonds, and non-U.S. Treasuries.

MILESTONE | Onchain Gold Trading Surges to Record High as Market Eyes Tokenized Stocks

While the broader gold market also performed well, with physical gold’s total market value increasing over the year, tokenized gold far outgrew traditional bullion and most major spot gold exchange-traded funds (ETFs) on a relative basis.

Trading activity for tokenized gold also surged in 2025, with overall trading volumes reaching approximately $178 billion. In the fourth quarter alone, quarterly volumes exceeded $126 billion positioning tokenized gold as the second-largest gold investment vehicle globally by volume, trailing only the SPDR Gold Shares ETF in total throughput.

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

The lion’s share of this on-chain trading came from Tether Gold (XAUT), which spiked in popularity late in the year and accounted for roughly 75% of tokenized gold trading volume in Q4, a substantial jump from its share in Q3 2025.

These trends reflect a broader shift in where gold liquidity is forming: increasingly on blockchain rails instead of through traditional financial channels, highlighting the growing appeal of tokenized commodities as part of the evolving RWA ecosystem.

MILESTONE | Tether is Now One of the Largest Holders of Gold Globally

 

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South African financial markets are witnessing a notable shift in corporate treasury strategy as Africa Bitcoin Corporation (ABC) continues building its Bitcoin reserve. The Johannesburg-listed firm recently added an additional 1.35 BTC to its balance sheet, bringing its total holdings to 4.55 BTC, a modest but strategically symbolic step in its long-term Bitcoin acquisition programme.

The coins were purchased at an average price of about R1.14 million (~$71, 400 as of this writing) each, slightly above contemporary market levels. While this holding remains small relative to global Bitcoin treasury players, ABC says it plans to scale its acquisitions over time in a manner similar to major corporate holders such as Michael Saylor’s Strategy (formerly MicroStrategy), which has amassed hundreds of thousands of BTC on its balance sheet.

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

A Strategic Pivot

ABC didn’t start life as a Bitcoin treasury company. Earlier in 2025, the firm was known as Altvest Capital, a Johannesburg-based investment company focused on credit, advisory services and funding for small and medium-sized enterprises (SMEs). In February 2025, Altvest made headlines by becoming the first publicly-listed African firm to add Bitcoin to its treasury reserves, signalling a shift towards a more resilient balance sheet strategy anchored in BTC.

MILESTONE | Altvest Becomes First Publicly-Listed Firm in Africa to Add Bitcoin to Treasury Reserves

By September 2025, this strategic emphasis culminated in a formal rebranding: Altvest Capital officially became Africa Bitcoin Corporation, reflecting a renewed corporate identity built around Bitcoin as its primary long-term reserve asset.

The transition was part of a broader plan to raise capital (approximately R210 million) to fund ongoing Bitcoin purchases, targeting both retail and regulated institutional investors who may have previously lacked direct access to BTC exposure.

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

This rebranding also positions ABC among a growing number of global companies using Bitcoin to strengthen corporate balance sheets, a strategy that has gained traction among firms seeking to protect wealth against inflation and currency depreciation.

 

Varying Corporate Bitcoin Strategies in South Africa

ABC’s moves come against a backdrop of contrasting approaches to Bitcoin within South Africa’s broader financial ecosystem.

While ABC doubles down on Bitcoin accumulation as a reserve asset, other financial players are urging caution. Major asset manager Sygnia Ltd., which manages roughly $20 billion, has publicly advised clients to limit Bitcoin exposure to no more than 5 % of discretionary assets due to the cryptocurrency’s volatility, even as demand grows for its Bitcoin-linked funds.

BITCOIN | South Africa’s Largest Independent Asset Manager Urges Clients to Limit Bitcoin Exposure to Under 5% of Their Portfolio

This juxtaposition highlights a broader debate among institutional actors: should firms embrace Bitcoin aggressively as a wealth reserve, or position it as a modest, diversified component of broader investment strategies?

 

For investors and market observers, ABC represents a pioneering case of regulated Bitcoin exposure within Africa’s capital markets. By combining traditional financial services with a Bitcoin treasury strategy, the firm provides an accessible channel for investors including those in retirement vehicles or funds restricted from direct crypto ownership to gain indirect regulated exposure to BTC through equity ownership.

As Africa’s first listed Bitcoin treasury company, ABC may not only shape perceptions of Bitcoin’s role in corporate financial planning but also spur wider adoption of digital asset strategies across emerging markets.

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

 

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Authorities in Israel have arrested and charged two people, a military reservist and a civilian, for allegedly using classified information to place bets on the prediction market, Polymarket, about Israel’s military operations against Iran.

Prosecutors say the reservist obtained secret information during service and used it to inform trades, triggering charges that include security offences, bribery and obstruction of justice. Officials described such trading as a “real security risk,” and vowed to pursue further cases of misuse.

 

According to the official report from the Israel Ministry of Defense:

In a joint operation by the Shin Bet, Lt. Col. Arazim of the Malmab, and the Israel Police, several suspects were recently arrested, including a civilian and reservists, on suspicion of gambling on the “Polymarket” website regarding the occurrence of military operations, based on classified information to which the reservists were exposed by virtue of their role in the army.

The defense establishment emphasizes that making such bets, based on secret and classified information, poses a real security risk to IDF operations and state security.

The Israel Anti-Corruption Bureau, Shin Bet, Israel Police, and the IDF view the acts attributed to the defendants with great seriousness and will act decisively to thwart and bring to justice any person involved in the illegal use of classified information.

 

 

This dramatic intervention marks one of the first criminal prosecutions tied directly to insider use of private or classified intelligence on prediction platforms, highlighting the glaring regulatory and ethical gaps in these markets.

 

Prediction markets like Polymarket and Kalshi let traders bet on future events, ranging from election results to geopolitical outcomes. Ideally, they aggregate public sentiment to create ‘market forecasts.’ But when someone with non-public, material information trades ahead of the crowd, it isn’t just unfair, it can erode trust and distort prices that others rely on.

Unlike traditional securities markets where insider trading laws and surveillance systems are well-established, prediction markets operate in legal and regulatory gray zones, especially those outside U.S. regulatory perimeters.

Understanding DeFi Prediction Markets and Why they are Always Right

 

Other Significant Cases Highlighting the Problem

1.) The Maduro Capture Wager 

In early 2026, a trader made a high-stakes bet on Venezuelan President Nicolás Maduro’s removal from power just hours before news broke of his capture, turning roughly $32,000 into over $400,000 in profit. The timing and account behavior raised immediate insider trading suspicions.

The episode triggered a U.S. legislative response: Representative Ritchie Torres introduced the Public Integrity in Financial Prediction Markets Act of 2026 to explicitly ban federal officials from wagering on outcomes tied to confidential government decisions – a direct sign of regulators grappling with prediction-market abuse.

 

2.) Suspicious Timing on Venezuela Bet Raises Questions

Blockchain analytics highlighted unusual wallet activity clustering around the same Venezuelan event, with fresh accounts placing large concentrated positions well before public information emerged, underscoring structural vulnerabilities when insiders or well-informed traders can act ahead of others.

 

3.) Accusations Around Tech and Search Data

There have been unverified allegations beyond strictly geopolitical bets of traders using early access to internal data leaks (for example, on Google’s product plans or search rankings) to profit on prediction markets. One crypto community discussion even cited cases where a trader allegedly netted over $1 million through such suspicious activity.

 

4.) Betting on Unethical Topics Like Greenland Takeover

In late 2025, the Danish Tax Minister expressed strong dissatisfaction with the betting of topics on death and destruction around the Russian-Ukraine war, which she said involves national sovereignty and the safety of others. She said that the government has a responsibility to act on such matters when about $5.2 million was wagered on whether ‘Trump would take over Greenland.’

 

 

Unlike regulated stock exchanges, many prediction markets do not collect detailed trader identities or operate under securities law, making traditional surveillance and enforcement tools harder to apply. Some platforms prohibit misuse in their terms, but without robust monitoring and legal teeth, exploiting non-public information can go undetected or unpunished.

Even in the U.S., market regulators such as the Commodity Futures Trading Commission (CFTC) which oversees regulated markets like Kalshi have seen enforcement staffing declines, raising concerns about their capacity to police emerging abuse on prediction markets as trading volumes rise.

PARTNERSHIP | Social Media Platform, X, Partners with Decentralized Prediction Markets, PolyMarket, to Help Audiences Contextualize Information

 

 

Prediction market platforms and regulators are pushing back:

Kalshi’s CEO publicly backed a ban on insider trading, calling it a financial crime and supporting legislative efforts to tighten rules.

Some jurisdictions like Singapore have taken enforcement steps, blocking platforms they consider unlicensed or illegal, partly due to concerns over insider abuse and gambling law compliance.

Broader calls are growing for enhanced monitoring tools, blockchain analytics, and clearer legal frameworks especially as markets expand into political and national security outcomes.

MARKET ANALYSIS | Why Solana’s ‘Crypto Casino’ Shifted from Memecoins to Prediction Markets

The Israeli arrests illustrate that prediction markets are no longer fringe experiments, they now intersect with national security, regulatory gaps and financial integrity.

With suspicious trades involving geopolitical events, heavyweight legislative proposals, and enforcement actions underway, authorities and industry stakeholders are increasingly focused on plugging the insider trading loopholes that threaten the credibility and fairness of these rapidly growing platforms.

REGULATION | PGI CEO Sentenced to 20 Years as Global Crypto Fraud Case Highlights Cross-Border Enforcement

 

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The Federal Government of Nigeria has reportedly released a draft white paper titled “Future-Proofing Nigeria’s Digital Economy: A White Paper on Virtual Asset Regulation” – a bold, forward-looking blueprint aimed at bringing clarity, trust, and global alignment to Nigeria’s fast-growing virtual asset market.

This draft, produced as part of a coordinated government effort, blends strategic economic vision with practical frameworks for supervising digital assets, positioning Nigeria as a pioneer in African crypto policy design.

At its core, the VARA Nigeria White Paper recognizes a simple truth: virtual assets are no longer fringe technologies. They’re deeply woven into how Nigerians send money, transact online, protect savings, and participate in global commerce. Rather than suppressing this growth, the government now seeks to harness it responsibly.

President Bola Ahmed Tinubu emphasizes in his foreword the need for modern financial architecture that balances innovation with stability, one capable of supporting a $1 trillion economy and empowering millions of entrepreneurs.

Over $50 Billion Worth of Crypto Flowed Through Nigeria in Just One Year, Says SEC Nigeria

Previous regulatory frameworks were stretched thin. With virtual assets operating largely outside a clear legal perimeter, challenges sprang up:

Fragmented oversight across agencies

Uneven enforcement

Lack of consumer protections

Opaque compliance expectations

The white paper responds to these gaps with a cohesive supervisory architecture, designed to be proportionate, collaborative, and forward-compatible with global norms.

 

The VARA Framework Explained

Instead of creating a standalone regulator, Nigeria’s approach is distributed and cooperative:

Virtual Asset Regulatory Council (VARC) – A strategic coordination body co-chaired by the Central Bank of Nigeria (CBN) and the Nigeria Revenue Service (NRS) ensuring key government institutions work in concert.

Virtual Asset Regulatory Office (VARO) – The operational “front door” for non-security virtual assets offering visibility and consistency in supervisory oversight.

Agency-Based Regulatory Teams – Supervisory units within participating government agencies that regulate specific activities within their mandates.

This distributed model preserves institutional strengths (e.g., banking for CBN; taxation for NRS; securities supervision for SEC) while ensuring digital assets don’t slip through the cracks.

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

The white paper charts out a three-track implementation pathway:

Foundations – defining the regulated perimeter, launching pilot programmes, and establishing governance mechanisms like VARC and VARO.

Market Protections – introducing rules, proportionate controls, and consumer protection standards.

Supervisory Infrastructure – building telemetry systems that let regulators monitor activity in real time.

This layered approach embeds risk-based supervision, meaning requirements scale with the potential impact of a firm’s operations — from simple wallets to complex exchanges.

Unlike top-down edicts of the past, the paper highlights stakeholder engagement as a key pillar:

Industry innovators

Fintech entrepreneurs

Academia

Civil society

This collaborative framing isn’t just rhetorical – it reflects a broader shift in how Nigeria imagines shaping digital finance policy: inclusive, transparent, and grounded in expertise.

 

The VARA Nigeria White Paper doesn’t exist in a vacuum. Nigeria’s crypto policy has undergone major shifts:

The Investment and Securities Act (ISA) 2024 formally recognizes digital assets and brings Virtual Asset Service Providers (VASPs) under SEC oversight.

However, regulatory roles between CBN, SEC, and other agencies have sometimes been unclear, leading to uncertainty for banks and fintechs.

Legislators and policymakers continue to debate frameworks that protect users while enabling innovation.

In this turbulent but exciting environment, VARA represents an effort to articulate a clear, coordinated framework that preserves Nigeria’s competitive edge.

If implemented thoughtfully, the VARA framework could:

Build regulatory clarity for operators and investors

Support financial inclusion and innovation

Attract global capital and partnerships

Strengthen consumer protections

Enable integrated financial systems, from remittances to decentralized finance

Most importantly, it signals a philosophical shift: Nigeria is no longer reacting to crypto but seeking to lead responsibly.

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

 

 

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Changpeng ‘CZ’ Zhao, the Co-Founder of Binance, says that the absence of meaningful privacy on blockchain networks remains one of the biggest barriers preventing cryptocurrencies from becoming a true medium of exchange particularly for business and institutional payments.

In a recent discussion, CZ argued that the transparency inherent to most public blockchains, often praised as a core feature of crypto, can also be a practical liability when it comes to everyday payments. He highlighted that without privacy, companies might hesitate to adopt crypto for payroll or expense payments because transaction histories can be easily traced.

 

Corporate Risks

Giving a hypothetical scenario, CZ said:

“Imagine a company pays employees in crypto on-chain.

With the current state of crypto, you can pretty much see how much everyone in the company is paid by clicking the ‘from’ address.” 

Transaction data often reveals sensitive details about:

Internal corporate workflows,

Proprietary strategies,

Supplier and client relationships, and

Can even signal a company’s broader financial position to competitors

Such exposure can heighten the risk of

Corporate espionage

Weaken a firm’s leverage during negotiations, and

Make institutions more vulnerable to fraudsters and targeted scams.

EDITORIAL | Stablecoin Startup Hack Highlights Emerging Markets’ Customer Funds Security Risks Compared With Traditional Banks

Blockchain transactions are broadcasted to the entire network. In addition, a transaction identifier, commonly referred to as a TxID, serves as a unique identifier associated with a particular transaction. Each transaction conducted on the blockchain, whether it involves on-chain activities or transfers to and from external addresses, is assigned a distinct TxID.

Thus, tracking a single payment means you can easily track all payments made to and from an address, and by extension, extrapolate other payments associated with an address, providing a wealth of data about a company’s payment patterns. Using AI, this data can be mined and further analyzed to provide a picture of a company’s business transactions and financial health.

[EXPLAINER] How to Check the Status of an Ethereum Transaction

The rapid advancement of artificial intelligence (AI) is expected to intensify these risks, according to Eran Barak, former CEO of privacy firm, Shielded Technologies.

Barak noted that centralized servers holding sensitive or high-value data are likely to become prime targets for AI-enabled cybercriminals.

As AI systems grow more sophisticated and capable of piecing together behavioral patterns, extracting heuristic signals, and statistically modeling likely outcomes, he argued that onchain privacy solutions will become essential to safeguarding critical digital information.

CZ and Barak’s remarks echo a broader debate in the industry about striking the right balance between transparency and confidentiality. While transparency supports auditability and regulatory oversight, insufficient privacy may discourage corporate participation and real-world use cases.

EDITORIAL | Why Circle, Stripe, and the Next Wave of Fintech Giants Want Their Own Blockchains

Physical Risk Concerns

CZ referenced a conversation with investor, Chamath Palihapitiya, on the All-In Podcast, during which he also pointed to physical security concerns tied to on-chain transparency. With personal and corporate wallets exposed to public view, users can be more easily targeted for theft, coercion, or other forms of attack.

These risks are not hypothetical.

According to a recent security report covering 2025, crypto-related wrench attacks, defined as physically forcing holders to surrender keys or funds, surged dramatically in 2025, becoming a structural threat rather than an edge case.

2025 RECAP | Physical Wrench Attacks on Crypto Holders Surge 75% in 2025 Causing Millions in Losses, Says CertiK Report

The report documented 72 verified wrench attacks worldwide in 2025, a roughly 75% increase compared with 2024, and confirmed financial losses exceeding $40.9 million. Kidnappings and physical assaults were among the most common vectors that accounted for a significant share of incidents in 2025.

Security analysts have noted that the psychological and reputational fallout from these violent attacks is already influencing behavior across the industry pushing founders and crypto holders toward greater anonymity, alternative custody solutions, and more cautious operational practices.

Industry observers argue that for crypto to be adopted at scale by businesses, institutions, and everyday users, networks will need privacy-preserving technologies that protect transactional data without compromising regulatory compliance. Solutions such as zero-knowledge proofs and shielded transactions are increasingly discussed as part of the next evolution of blockchain infrastructure.

Without advancements in privacy, the argument goes, the dual challenges of corporate adoption barriers and rising physical security threats could continue to slow crypto’s growth as a practical payments system.

EXPERT OPINION | Why Purpose-Built Blockchains Are on the Rise

 

 

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The social media platform, X (formerly Twitter), has just unveiled a major expansion of its financial feature set, with Smart Cashtags taking centre stage in its effort to become a full-blown financial and social hub.

At its core, Smart Cashtags upgrade the traditional ‘$TICKER’ tagging system by making financial symbols like $BTC (Bitcoin) and $ETH (Ethereum) interactive within the timeline. Instead of linking to static search results, these tags will deliver live price data, real-time charts, and market insights instantly all without leaving the X app.

But the upgrade doesn’t stop at data.

According to recent product announcements, X is preparing to let users execute crypto and stock trades directly from their feed through Smart Cashtags meaning users may soon be able to buy and sell assets right from X posts and conversations.

This capability is expected to roll out within the next few weeks.

REGULATION | X (Twitter) Acquires 7 Currency Transmitter Licences in the United States

What This Means for Crypto Adoption

Massive exposure for digital assets: With hundreds of millions of users globally using X every day, embedding live crypto data and trading functionality into everyday conversation could significantly reduce friction for retail participation.

Social + markets in one place: The convergence of social engagement and financial activity positions X not just as a place for crypto talk, but as a potential entry point for market participation.

Innovation vs. caution: While the feature promises easier access, industry watchers are also pointing out the importance of education and safeguards — especially in markets with limited investor protections.

This pivot aligns with broader trends in the crypto space, where platforms increasingly blend community engagement, financial data, and transactional capabilities similar to how WeChat in China mixes messaging and payments.

Stay tuned as this feature rolls out and potentially reshapes retail crypto engagement worldwide.

PARTNERSHIP | Social Media Platform, X, Partners with Decentralized Prediction Markets, PolyMarket, to Help Audiences Contextualize Information

 

 

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The federal sentencing this week of Praetorian Group International (PGI) founder, Ramil Ventura Palafox, to 20 years in prison underscores intensifying international scrutiny of crypto-related fraud and the willingness of authorities to pursue cross-border enforcement against schemes that offer promised returns without legitimate trading operations.

U.S. prosecutors in the Eastern District of Virginia convicted the dual U.S.–Philippine citizen on wire fraud and money-laundering charges tied to a Bitcoin investment operation that raised more than $200 million from investors worldwide. Tens of thousands of participants from around the globe trusted PGI with funds between 2019 and 2021 after being lured by claims of consistent daily returns generated through large-scale cryptocurrency trading.

 

However, authorities found that PGI did not conduct trading at a level capable of producing those returns, and instead used new investor capital to pay earlier participants.

 

The press release from the Department of Justice website reads:

“From December 2019 to October 2021, at least 90,000 investors worldwide invested more than $201,000,000 in PGI, including at least $30,295,289 in fiat currency and at least 8,198 bitcoin worth $171,498,528. As a result of Palafox’s actions, investors suffered losses totaling at least $62,692,007.

Palafox created a PGI website for investors to review their purported investment performance. From 2020 through 2021, Palafox caused the online portal to consistently and fraudulently misrepresent that victims’ investments were gaining value, misleading them to believe that their investments were profitable and secure.

Palafox spent money on expenses that served both personal purposes and to promote the fraudulent scheme.

He transferred at least $800,000 in fiat currency, plus an additional 100 bitcoin, then valued at approximately $3.3 million, to one of his family members.”

CEO of FTX Crypto Exchange, Sam Bankman-Fried, Sentenced to 25 Years in Prison

The report goes on to list the various personal items that Palafox had purchased over the years including homes, luxury cars, clothing, jewelry, watches, and home furnishings.

The ponzi scheme case also illustrates how enforcement actions in digital assets increasingly cross national borders. Regulators seized PGI’s website as far back as 2021, and associated operations were shut down in the United Kingdom under separate orders, signaling early signs of global cooperation before charges were unsealed in the U.S. civil and criminal proceedings.

In April 2025, the U.S. Securities and Exchange Commission (SEC) filed parallel civil charges, alleging widespread misrepresentation of PGI’s trading activity and its use of an AI-powered platform to project false earnings while promising guaranteed returns. Despite these claims, investigators determined that the company’s actual trading activity was minimal and could not support the yield levels it advertised.

The dual civil and criminal enforcement actions reflect a broader regulatory focus on protecting investors from high-risk crypto products that rely on recruiting new funds rather than legitimate market operations. As authorities expand cooperation across jurisdictions, this case is likely to serve as a reference point in how international reach and coordinated scrutiny can challenge fraudulent digital asset schemes.

REGULATION | United States CFTC Concludes Case Against MTI, a South-African Bitcoin Scam, Imposes $1.7 Billion Restitution to Victims

 

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Physical attacks targeting cryptocurrency users, known in the industry as wrench attacks, have seen a sharp rise in 2025, resulting in significant financial losses and heightened safety concerns across the global crypto ecosystem, according to a new security report.

The blockchain security auditor behind the report said that violent coercion, including kidnappings and forced transfers, is no longer an isolated problem but has become a core risk factor for digital asset holders. In 2025, there were 72 verified wrench attack incidents worldwide, representing roughly a 75% increase compared to 2024. Confirmed losses due to these attacks exceeded $40.9 million, although the true figure could be higher due to

under-reporting,

silent settlements and

untraceable ransoms.

According to the data, Europe accounted for around 40% of the global incidents, with France recording the largest number of attacks. Africa accounted for the least number despite a notable increase YoY.

While kidnappings and physical assaults were the most common vectors, the psychological impact of these threats, including stress, reputational fallout, and changes in personal behavior, is now reshaping how some founders and wealthy crypto holders manage their lives and operations.

Among the high-profile incidents documented in 2025 were violent abductions and extortion attempts against individuals involved in crypto projects and wallets.

REGULATION | South African Crypto Firm, NTC Global Trade, Linked to ~$27 Million Investor Losses Faces Liquidation After Probe

The case also took a tragic turn in September 2025 when attorney investigating NTC was assassinated https://t.co/LlCmRjm4Tf @fscasouthafrica pic.twitter.com/v5hXJn1Gct

— BitKE (@BitcoinKE) September 16, 2025

Case Study: Abduction of a Crypto Founder in Uganda

The rise of physical coercion against crypto users isn’t limited to Europe.

In May 2025, Festo Ivaibi, founder of Mitroplus Labs and the Afro Token project, was abducted near his home in Kampala, Uganda, by armed individuals impersonating national security personnel.

How a Ugandan Crypto Founder Was Abducted by Armed Impostors Stealing $500,000 in Shocking Heist

The attackers, clad in military-style uniforms and brandishing firearms, forced Ivaibi under duress to transfer approximately $500,000 worth of cryptocurrency from his wallets to addresses controlled by the assailants, including moving funds off Binance and selling small amounts of Afro Token under threat.

In the aftermath, Mitroplus Labs confirmed that no community or project funds beyond the coerced transactions were compromised, and its security team moved quickly to secure affected devices and wallets. Authorities were reported to have opened a formal investigation, with suspects arrested in connection to the incident.

The attack in Uganda illustrates how wrench-style coercion can occur in emerging markets, particularly where regulatory protections and law enforcement safeguards for digital asset holders are limited or uneven. It also highlights the importance of robust security practices, such as multi-factor authentication and not storing large balances on devices or wallets that can be physically accessed.

How a Ugandan Crypto Founder Was Abducted by Armed Impostors Stealing $500,000 in Shocking Heist @AfroTokenSUN alleges the involvement of a syndicate comprising informants, rogue security operatives, police, and Chinese businessmen. https://t.co/fVUItzvwoP @IvaibiFesto pic.twitter.com/XbxSuPZoma

— BitKE (@BitcoinKE) June 7, 2025

In an unrelated incidence in South Africa, an attorney was assassinated in 2025 after his work was linked to ongoing probes into a crypto investment company that was undergoing provisional liquidation after questions about the company’s operations were raised. Death threats had also been issued resulting in resignations at the company which had raised ~$27.5 million from South African investors.

REGULATION | South African Crypto Firm, NTC Global Trade, Linked to ~$27 Million Investor Losses Faces Liquidation After Probe

Industry Response and Mitigation Strategies

To counter the growing threat of wrench attacks, security experts suggest a range of defensive measures. These include:

Using ‘panic wallets’ that can wipe balances or trigger alerts under duress.

Maintaining decoy wallets to surrender small amounts without exposing significant holdings.

Keeping sensitive credentials and seed phrases separated from hardware wallets.

Avoiding public discussion of crypto wealth and not revealing personal financial information.

Despite these recommendations, industry observers warn that the rise in physical threats underscores broader challenges for the crypto ecosystem, especially in regions where legal protections and personal safety infrastructure remain underdeveloped.

REGULATION | Morocco Nabs Alleged Mastermind Behind French Crypto Kidnappings

 

 

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The XRP Ledger (XRPL) has recently surpassed Solana on a key metric in the real-world asset (RWA) tokenization market, marking a notable shift in institutional activity within the crypto ecosystem.

According to on-chain data from RWA.xyz, XRPL now shows higher total RWA value, excluding stablecoins, than Solana over the past month.

 

What the Data Shows

Total RWA Value: XRPL logged about $1.756 billion in total on-chain real-world assets (excluding stablecoins), compared with roughly $1.682 billion on Solana.

Surge Over 30 Days: The XRPL’s represented asset value jumped more than 270% in one month, while Solana’s RWA value grew by around 40% over the same period.

 

This ‘flip’ in value, even if the gap is relatively narrow, is notable because XRPL has traditionally operated in Solana’s shadow on metrics tied to retail activity, speed, and network throughput.

EXPERT OPINION | Emerging Market Economies to Drive RWA Tokenization in 2026, Says Head of Operations at BitFinex

The way RWA value is measured matters:

XRPL’s strength right now lies in represented assets, which are tokenized holdings recorded on-chain but not freely transferable outside controlled issuer frameworks. These often reflect institutional engagements and high-value asset holdings.

Solana, by contrast, leads in distributed asset value, holder count, and transfer activity, signalling broader participation and utility among a larger user base.

 

This difference highlights two distinct tokenization dynamics:

Value concentration on XRPL (bigger blocks of assets under tight controls), and

Network activity and distribution on Solana (more wallets, transfers, and decentralized liquidity).

 

The XRPL’s edge in RWA value, even if driven by concentrated issuances rather than widespread retail transfers, suggests that institutional players are increasingly embedding large-scale tokenized assets on the network. This could reflect demand for ledger features like compliance tooling and deterministic settlement, especially for regulated asset tokenization.

However, broader adoption still depends on wider participation, deeper secondary market activity, and sustained issuance across diverse asset classes. Solana’s ecosystem continues to demonstrate strong engagement on those fronts, making the competition between chains less about a single headline and more about differentiated use cases in the evolving RWA landscape.

PRESS RELEASE | Ripple Brings Institutional Digital Asset Custody to South Africa in Partnership with One of Africa’s Leading Financial Institutions

 

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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.

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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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