In this week’s Mariblock Weekly, we highlight the launch of Nigeria’s first regulated stablecoin, cNGN, which aims to gain traction in the local Market. This innovative digital currency, pegged to the naira, is already available on the Busha exchange. We also discuss StarkWare’s new $4 million fund dedicated to supporting African blockchain startups, focusing on early-stage projects, particularly in Francophone regions. Additionally, the South African startup 6DOT50 has made waves by allowing car purchases using cryptocurrency at 1,400 dealerships. With these developments, African blockchain and crypto adoption is poised for significant growth. Stay tuned for more updates and insights!
Welcome to Mariblock Weekly, your go-to source for the latest in blockchain developments across Africa. This week, Nigeria has made headlines with the launch of its first regulated stablecoin, cNGN. This innovative digital currency is officially approved by the authorities and is set to redefine transactions in the region.
The cNGN, pegged to the Nigerian naira, debuted last week and is already featured on the licensed exchange, Busha. As of February 9, a significant 66.1 million cNGN tokens are circulating, primarily held by just 18 users. Unlike the central bank’s eNaira, which has faced challenges in adoption, cNGN aims to target various use cases, including payments and remittances.
In other exciting news, StarkWare has launched a $4 million venture fund dedicated to supporting blockchain startups across Africa, especially those in early stages. Applications are open for small teams aiming to build on the Starknet platform, focusing on fostering innovation in the region.
South African startup 6DOT50 has introduced a groundbreaking system allowing consumers to buy cars using cryptocurrency. By converting crypto into fiat vouchers through their platform, customers can make purchases at approximately 1,400 dealerships nationwide.
Moreover, stay connected with our founder, Oluwaseun Adeyanju, who will represent Mariblock at the Africa Tech Summit in Nairobi this week. He welcomes the opportunity to meet with fellow blockchain builders, so don’t hesitate to arrange a chat.
As we explore the potential of local stablecoins across the continent, it’s crucial to keep an eye on how cNGN’s adoption unfolds. With ongoing advances and a focus on homegrown innovations, Africa’s blockchain landscape continues to evolve.
Catch up on more developments, and remember to stay informed as we navigate this exciting space together.
Keywords: Nigeria, cNGN, blockchain, stablecoin, Africa Tech Summit
Secondary Keywords: StarkWare, 6DOT50, cryptocurrency payments, digital currency
FAQ for Mariblock Weekly: Crypto’s Double Edge: Regulation and Rising Crimes
What is the main issue with crypto regulation?
The main issue with crypto regulation is that rules can help protect users but may also limit freedom. Finding a balance between safety and innovation is challenging.
How are crimes related to cryptocurrency increasing?
Crimes related to cryptocurrency are increasing because criminals use it for scams, hacks, and money laundering. The anonymity of crypto makes it attractive for illegal activities.
What are governments doing about crypto crime?
Governments are trying to combat crypto crime by creating stricter laws and regulations. They want to make it harder for criminals to use digital currencies for illegal purposes.
Can regulation help protect investors in cryptocurrency?
Yes, regulation can help protect investors by ensuring that exchanges are secure and that companies follow fair practices. This can make the crypto Market safer for everyone.
What should investors know about crypto and crime?
Investors should be aware that while crypto can be risky, understanding the rules and staying informed can help them make safer choices. Always do your research before investing.
