In Bitcoin Africa’s Weekly News Roundup, we look at the most trending blockchain and cryptocurrency stories from Africa this week. Here are our top picks!
KuCoin Adds Nigerian Naira to P2P Platform
KuCoin, one of the big cryptocurrency exchange building a P2P platform, has added the Nigerian naira (NGN).
Nigerian users of KuCoin can now buy BTC and USDT directly with the naira (NGN) directly. What’s more, Nigerians can buy bitcoin with their credit/debit card.
KuCoin is set to add more African currencies to its P2P platform soon.
Crypto.com Adds KES and ZAR
Another major cryptocurrency exchange making moves in the African market is Crypto.com. The exchange added Kenya Shillings (KES) and the South African Rand (ZAR) this week.
This update will allow Kenyans and South Africans to buy cryptocurrencies on Crypto.com. The major advantage Crypto.com gives users is billing users in local currencies.
Buying crypto with credit/debit cards in your local currency removes cost charged by card issuers for transactions denominated in foreign currencies.
Luno Partners With Genesis Prime Brokerage to Enable Interest For Users
Luno is partnering with Genesis, a leading digital currency prime brokerage service, to provide customers with simple, accessible ways to earn interest on their crypto holdings. With this new partnership, Luno will provide an option for getting savings accounts with institutional-level interest rates, especially for users in developing markets.
Further, these savings accounts will give unbanked customers access to banking services like interest receiving accounts. This presents another option for crypto users to generate income via yield on crypto holdings.
Speaking to the press, CEO of Genesis, Micheal Moro said:
“We share Luno’s passion for making it safe and easy – across all segments of the market – to learn about, buy and store cryptocurrencies. By combining Genesis’s infrastructure with Luno’s footprint in more than 40 countries, we’re creating a fairer, more inclusive financial system by providing access to interest-bearing products to historically underbanked and unbanked populations.”
Luno also introduced instant buy with PayU in Nigeria and South Africa this week. The PayU addition allows users to buy crypto without having to deposit funds first.
Luno continues to be a leading exchange in Africa with plans to enter new markets like Ghana and Kenya.
Binance added Ugandan Shilling (UGX)
Binance.com added Ugandan Shilling (UGX) deposits and withdrawals. UGX joins the Nigerian naira (NGN) and South Africa rand (ZAR) as African currencies that are directly supported on Binance.com.
Ugandans can buy BTC, ETH, BNB, XRP, BUSD, and USDT directly with UGX. Deposits can be made via mobile money, while withdrawals can be done via bank transfer and mobile money payments.
Binance users in Uganda could only buy cryptocurrencies on the Binance Uganda standalone platform before this update. It is uncertain if that platform will still run side by side with Binance.com allowing direct trade from Uganda.
Coins App launched in Nigeria
Dan Holdings, a blockchain, and fintech firm launched Coin Apps this week. The app joins the growing list of crypto social payment applications in Nigeria. According to a press release, the app is available in Cameroon, Ghana, Ivory Coast, Mali, Nigeria, and Senegal.
The application allows users to make payments across the globe and exchange cryptocurrencies. Further, Dan Holdings plans to add Middle East, Egypt, South Africa, Mexico, and the USA by the end of August.