In recent days, we have informed you several times about the great progressive and friendly attitude towards cryptocurrencies, especially in the United States of America and Japan, but today we have more great news, this time concerning Africa. The adoption of cryptocurrencies in several African countries is growing thanks to various new projects and residents who are willing to educate themselves in the sector, with African blockchain projects constantly attracting large amounts of funding.
“The lack of common legacy financial systems and an enormous population, primarily unbanked, all contribute to the popularity and growth of cryptocurrencies on the continent.”
In the first three months of this year, venture capital (VC) investors poured $91 million into blockchain companies, a number that rose to $213 million in the second quarter. We can see that the adoption rate of cryptocurrencies in Africa continues to break records, much to the delight of many crypto enthusiasts. However, despite the rise of crypto investors in Africa, the regulatory approach of most countries remains unclear. Countries like South Africa have therefore announced a plan to regulate and integrate the sector into the mainstream financial system.