{"id":12052,"date":"2025-02-08T12:48:07","date_gmt":"2025-02-08T12:48:07","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12052"},"modified":"2025-02-08T12:48:07","modified_gmt":"2025-02-08T12:48:07","slug":"africa-crypto-week-in-review-south-africa-startup-introduces-crypto-payments-for-car-purchases-nigerian-stablecoin-debuts-to-mixed-reviews","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12052","title":{"rendered":"Africa Crypto Week in Review:  South Africa Startup Introduces Crypto Payments For Car Purchases, Nigerian Stablecoin Debuts To Mixed Reviews"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Bitcoin, Ethereum, and other top coins are slowing down in early February. Of note, BTC is struggling for momentum below $100,000. Amid this choppy price action, startups in Africa are making moves as regulators and entrepreneurs scramble to benefit from the crypto boom in countries like Nigeria and South Africa. These, and more, make the Africa crypto news roundup for the week.<\/span><\/p>\n<h2><b>South Africa Crypto News: Startup Introduces Car Purchases Through Crypto<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Crypto payments startup 6DOT50 has <\/span><a href=\"https:\/\/www.mariblock.com\/south-african-startup-6dot50-introduces-crypto-payment-option-for-car-purchases\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\">partnered<\/span><\/a><span style=\"font-weight: 400\"> with car financing platforms Seriti Solutions and BTS to allow crypto car purchases in South Africa. This solution will be available in about 1,400 motor vehicle dealerships across South Africa.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">6DOT50 ensures that crypto owners can <\/span><a href=\"https:\/\/www.6dot50.com\/press\/6dot50-partners-with-seriti-and-bts-to-enable-crypto-car-purchases?ref=mariblock.com\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\">seamlessly purchase cars<\/span><\/a><span style=\"font-weight: 400\"> through instant fiat voucher conversions to the car dealers. Buyers can then redeem their vouchers. This effectively means the dealers get fiat payments while the crypto owner does not need to convert crypto first themselves.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Regulatory clarity has allowed platforms like these to thrive. 6DOT50 supports eight major cryptocurrencies for this utility, including Bitcoin. South Africa already boasts a high crypto ownership rate and such convenience should allow more of its citizens to participate in the modern crypto economy.\u00a0<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/cryptocurrency\/what-is-worldcoin\/\">What is Worldcoin? A Beginner\u2019s Guide to WLD Tokens<\/a><\/strong><\/p>\n<h2><b>Nigeria Crypto News: Stablecoin Debuts To Mixed Reviews\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The Compliant NGN stablecoin (cNGN) has <\/span><a href=\"https:\/\/www.dlnews.com\/articles\/regulation\/how-nigeria-push-to-get-past-fight-with-binance-hit-snag\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\">obtained<\/span><\/a><span style=\"font-weight: 400\"> regulatory approval in Nigeria, marking a significant turning of the tide in the country.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the main concern for analysts is that the Naira, Nigeria\u2019s national currency, is one the most unstable globally. Stablecoins like the USDT and USDC rely on the USD, which has global use and relative stability.<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"Naira Pegged Stable Coin Lists, XRP Ledger Down Time + More\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/2XFjaXoos10?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><span style=\"font-weight: 400\">Nonetheless, this is a milestone from the perspective of Nigeria\u2019s regulatory shift. In 2024, Nigeria was in the headlines for its fight with mega-exchange <a class=\"general-link\" title=\"Coinbase Becomes UK\u2019s Largest VASP, Binance Reworks Crypto Payments Framework For Europe\" href=\"https:\/\/99bitcoins.com\/news\/coinbase-becomes-uks-largest-vasp-binance-reworks-crypto-payments-framework-for-europe\/\" rel=\"\">Binance<\/a>, which exited the Nigerian market for months following the arrest of one of its senior executives.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The approval for African Blockchain Consortium is a turnaround from this deadlock and crypto enthusiasts in the country are hopeful that this development will unlock more progress.<\/span><\/p>\n<h2><b>Africa Crypto news : How The Blockchain Could Transform Mining In Africa\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Absa Bank\u2019s Vice President product (digital assets), Nkahiseng Ralepeli, has proposed that blockchain technology be used to improve the efficiency of the mining sector. In an online <\/span><a href=\"https:\/\/www.finextra.com\/blogposting\/27797\/from-rock-to-ledger-how-blockchain-could-reshape-mining-in-south-africa\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\">publication<\/span><\/a><span style=\"font-weight: 400\">, he proposed that the blockchain can be used for tracking the li<\/span><span style=\"font-weight: 400\">censing, tracking, compliance, payments, and logistics in the sector.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Mining is a strong sector in South Africa, and the country is the world\u2019s largest producer of gold and diamonds. Ralepeli believes the blockchain can both bring transparency and efficiency to licensing and supply chain tracking. Minerals usually have additional scrutiny especially considering that some mineral rich regions in the continent have conflict and child labour concerns.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This usage could transform the sector by effectively tracking every mined mineral from its extraction to eventual sale. Such input means the blockchain can go over and above its usage in cryptocurrencies to more real-world benefits.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This comes as StarkWare, an Ethereum layer-2 developer, <\/span><a href=\"https:\/\/techafricanews.com\/2025\/02\/06\/starkware-unveils-4m-fund-to-boost-blockchain-startups-in-africa\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\">launched<\/span><\/a><span style=\"font-weight: 400\"> a $4 million fund to support startups in Africa. <\/span><span style=\"font-weight: 400\">Eli Ben-Sasson, the CEO, believes Africa is an \u201cexciting market\u201d that will drive innovation in the coming years.<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/wallets\/best-nft-wallets\/\">Best NFT Wallets in 2025 for Safe and Easy Storage<\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/africa-crypto-week-in-review-south-africa-startup-introduces-crypto-payments-for-car-purchases-nigerian-stablecoin-debuts-to-mixed-reviews\/\">Africa Crypto Week in Review:  South Africa Startup Introduces Crypto Payments For Car Purchases, Nigerian Stablecoin Debuts To Mixed Reviews<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin, Ethereum, and other top coins are slowing down in early February. Of note, BTC is struggling for momentum below $100,000. Amid this choppy price action, startups in Africa are making moves as regulators and entrepreneurs scramble to benefit from the crypto boom in countries like Nigeria and South Africa. These, and more, make the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12052","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12052"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12052\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}